Dinar & Dirham Gold & Silver Coins : Global Business : Tamkin

Gold and Silver coins will be used alongside the national currency, the ringgit

Fact of the Day - One of the long-standing myths about modern currency is that it is backed by the U. S. gold supply in Fort Knox. That is, you can trade your greenback dollars to the U. S. government for the equivalent amount of gold bullion at any time.
At one point, this was true of most paper currencies in the world. However, the U. S. took away the government backing of the dollar with an actual gold supply (known as leaving the gold standard) in 1971, and every major international currency has followed suit.
The obvious question is, "Without gold, what does guarantee the value of our money?" The answer is: nothing at all. All the coins which were worth a total of 2. 0 million ringgit (629, 000 dollars) have been sold out at the launch today. "
The dinar measures 4. 25 grams of gold, while the dirham is 3. 0 grams of pure silver.
A golden coin is equivalent to about 582 ringgit (183 dollars) while the silver coin is worth around 13 ringgit but their values fluctuate according to market prices.
Dinar Debate
The dinar and dirham currencies can also be used in dealings with state government agencies, such as paying Zakat.
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