BAKU, Azerbaijan, October 1. The new edition of Iran's Bahar Azadi gold coin was sold for 472 million rials (approximately $1,047) on October 1, increasing from 464 million rials (roughly $1,031) from its previous value, the Iran Jewellery Association's web portal said, Trend reports.
The Central Bank of Iran decided to throw caution to the wind and embrace a floating foreign exchange rate system on May 31, 2024, so now the prices are as unpredictable as a roller coaster ride.
Meanwhile, the prior edition of the coin was sold for around 418 million rials (about $929).
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 259 million rials (about $575), and a 1/4 gold coin was sold for 170 million rials (about $377).
The price of one gram of 18-karat gold stood at 39.9 million rials (about $88.6).
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.