BAKU, Azerbaijan, September 18. The new edition of Iran's Bahar Azadi gold coin was sold for nearly 442 million rials (approximately $1,019) on September 18, increasing from 441 million rials (roughly $1,018) on September 17, the Iran Jewellery Association's web portal said, Trend reports.
The Central Bank of Iran switched to a floating foreign exchange rate system on May 31, 2024, and hence the prices change depending on this.
In the meantime, the previous version of the coin changed hands for a whopping 391 million rials (around $902).
The other versions of the new Bahar Azadi gold coin (different in weight and content) include 1/4 Bahar Azadi gold coins and 1/2 Bahar Azadi gold coins.
A 1/2 gold coin was sold for 240 million rials (about $552), and a 1/4 gold coin was sold for 160 million rials (about $367).
The going rate for one gram of 18-karat gold was 37.4 million rials, or around $86.2.
To note, the coins showed up in Iran following the Islamic Revolution's victory in 1979. The Central Bank of Iran made a move and issued the coins, putting them up for grabs for both wholesale and retail sales.
The bank minted the old gold coins between 1979 and 1991 before issuing new ones.