$1 M of Suez Canal commemorative gold sold so far: Treasury
Suez Canal gold plates

CAIRO: Some 8 million EGP ($1.08 million) worth of Suez Canal gold plates have been sold five days after being put on sale, announced Egypt’s public treasury Chairman, Mohammed Fathi Tuesday.

“The gold plates were of four weight categories: quarter ounce for 4,100 EGP ($523,) half ounce for 8,200 EGP ($1,046,) one ounce for 16,400 EGP ($2,093) and two ounces for 32,800 EGP ($4,185,) Fathi told Youm7.

He added that the gold plates were put up for sale at the headquarters through the Ministry of Finance’s public treasury in downtown Cairo and not through banks.

In July, Egypt’s Cabinet approved the Suez Canal Authority’s proposal to issue commemorative coins for the upcoming inauguration of the “New Suez Canal” on Aug. 6.

“The Egyptian Mint Authority, an affiliate of the Finance Ministry, will issue the commemorative 21-carat gold coin in different weights; including quarter and half ounce as well as two-five ounces and put it up for sale,” Finance Minister Qadri stated.

One face of the coin shows the New Suez Canal logo and the phrase “The New Suez Canal from Egypt to the entire world,” while the other side holds an image of two ships crossing the canal in two opposite directions, along with its inauguration date of Aug. 6, he added.

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