BAKU, Azerbaijan, October 17. The new edition of Iran's Bahar Azadi gold coin was sold for 520 million rials (approximately $1,168) on October 17, increasing from 512 million rials (roughly $1,150) on October 16, the Iran Jewellery Association's web portal said, Trend reports.
On May 31, 2024, the Central Bank of Iran made the bold decision to adopt a floating foreign exchange rate system, resulting in highly unpredictable prices.
The previous edition of the coin sold for about 458 million rials, or about $1,028, in the meantime.
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 283 million rials (about $636), and a 1/4 gold coin was sold for 183 million rials (about $411).
The price of one gram of 18-karat gold stood at 41.9 million rials (about $94.1).
Notably, the coins appeared in Iran after the victory of the Islamic Revolution in 1979. The Central Bank of Iran took action, issuing the coins for both wholesale and retail sales.
The bank minted the old gold coins between 1979 and 1991 before issuing new ones.