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new NGC branch in Egypt

10 posts in this topic

On 9/29/2019 at 12:50 AM, Mk123 said:

Elshahed are you saying the Egyptian govt confiscates all pre 1952 egyptian coins? I have noticed a lot of egyptian coins go for a lot of money and there is lots of bidding on them.

Egyptian govt confiscates all pre 1952 egyptian coins on airports please follow those links , https://www.youm7.com/story/2019/4/27/جمارك-مطار-برج-العرب-تحبط-محاولة-تهريب-عملات-معدنية-أثرية/4223009  ,https://www.almasryalyoum.com/news/details/1290658

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Interesting.  They even pose with the coins similar to how our customs agents in the US do with drug seizures.

I'm not familiar with the laws but the article cites these:

Law of Protection of Antiquities No. 117 of 1983, and its amendments by Law No. 3 of 2010

Law No. 94 of 1983 on the Money System in the Arab Republic of Egypt


A while back I made a low cost eBay purchase from a seller in Egypt (like, less than $5).  Primarily for a novelty/counterfeit British Sovereign that was in the mix that I wanted to see in hand. The coins were sent via FedEx and taped to a piece of paper.  Had I been interested in the value I may have been upset but I was definitely curious as to why they were mailed the way they were.

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@Elshahed well that really sucks for Egyptians who want to collect a piece of something from their own country! Turkey is another country that has a similar law, I was told by a turkish person on instagram that there is a law preventing any turkish citizen from owning coins pre 1839. If they find them, they have to turn them over to the government, but I'm sure anyone that finds a cache/hoard of older turkish coins may simply just melt it and get the precious metals value out of them or get them smuggled out.

I will say that older egyptian crowns like the 20 piastres go for big money, simply look at heritage prices or ebay prices, they are hot and sell well

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Egypt has a coin mintage history since the year 330 BC.  It is a history of more than 2300 years.  We have a complete bachelor, Master and PhD academic programs dedicated to study coins.  It is not a hobby in Egypt, it is much more than this.  It is the history of civilization.  The Egyptian laws are not written against coins per se.  The law addresses any ancient artifacts like documents, statues, anything that is older than 100 years even my grandfather own photo falls under the the law.  Any object older than 100 years old needs to be examined and got an authorization from relevant authorities to trade. 

In Egypt, every family own a piece of land that can be in the family heritage for 1000 years.  In every construction site in Egypt, anyone has a good probability to find a treasure.  We are not even allowed to dig deep down in old cities without supervision from certain authorities to make sure not to damage any real ancient sites that may be hidden in your land by mistake.  The law is if you own a land in Egypt, you own the surface but whatever is hidden inside the land itself is beyond expectations so it is a public property.      

Most Egyptian collectors who bid, buy, sell coins before 1952 are dealing with the inventory of coins outside Egypt due to these legal constraints.  The Egyptian collectors community is trying hard to address the government to exclude modern coins from the general law.  When we say MODERN we speak since the Othman empire, the year 1517 or at least since Mohammed Ali reform in 1834.     

Still it will be great to have NGC branch in Egypt where graders can come to grade the coins inside the country.  This needs an invitation from the Collectors society in Egypt in addition to cooperation with the relevant authorities.  

Edited by mmohareb
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