Islamic State dinar

{{about|the Islamic State currency|the medieval Islamic currency|Gold dinar}}

{{Infobox currency

| name = Gold dinar

| local_name1 = {{lang|ar|{{Script/Arabic|دينار ذهبي}}|rtl=yes}}

| replaced_by_currency = Iraqi dinar and Syrian pound

| obsolete = 2019

| local_name_lang1 = ar

| image_1 =

| image_title_1 = Dinar coins from an ISIL propaganda video, 2015

| using_countries = {{flag|Islamic State}}

| symbol =

| used_coins = 1, 5 dinars
1, 5, 10 dirhams
10, 20 fulûs

| used_banknotes = None

| issuing_authority = Diwan Bayt al-Mal{{Cite web|last=Sabah, Alexander|first=Zaid, Caroline|date=2015-08-29|title=Islamic State Flips Gold Coins to Break Fed 'Enslavement|url=https://www.bloomberg.com/news/articles/2015-08-29/islamic-state-finds-gold-coins-are-a-steal-as-throwback-currency|access-date=2021-11-11|website=www.bloomberg.com}}

}}

The Islamic State dinar ({{langx|ar|دينار الدولة الإسلامية}}), or simply the gold dinar,{{Cite web|url=https://archive.org/details/TheRiseOfTheKhilafahAndTheReturnOfTheGoldDinar_201509|title=The Rise of the Khilafah and the Return of the Gold Dinar|publisher=Islamic State|year=2015}} was the official currency of the Islamic State from 2014 to 2019. Subdivided into dirhams and fulûs, it was modelled after the historical gold dinar that was first introduced in the Muslim world during the time of the Umayyad Caliphate. In 2016, one Islamic State dinar had an effective exchange rate of {{USD|190}} or {{GBP|91}}, though it did not gain traction outside of the Middle East due to the Islamic State conflict, as the international community did not recognize the Islamic State's sovereignty and designated it as a terrorist organization.{{Cite news|title=El Estado Islámico ya tiene su propia moneda oficial|url=https://www.minutouno.com/mundo/estado-islamico/el-ya-tiene-su-propia-moneda-oficial-n1496995|date=2016-07-09|work=Minuto Uno}}{{Cite news|title=Isis shows off currency with gold dinar coins worth £91 each - in quest for 'world domination'|url=https://www.independent.co.uk/news/world/middle-east/isis-shows-new-currency-gold-dinar-coins-worth-ps91-each-quest-world-domination-10480121.html|last=Staufenberg|first=Jess|date=2015-09-02|work=The Independent}}

Background

The Islamic State of Iraq (ISI) establishing itself in 2013 as the Islamic State of Iraq and Syria (or the Levant), and then simply as the Islamic State in June 2014.{{Cite news|title=Isis vs Islamic State vs Isil vs Daesh: What do the different names mean – and why does it matter?|url=https://www.independent.co.uk/news/world/middle-east/isis-vs-islamic-state-vs-isil-vs-daesh-what-do-different-names-mean-9750629.html|last=Dearden|first=Lizzie|date=2016-09-27|work=The Independent}} By 2015, it controlled a large amount of territory in both countries, declaring itself as a caliphate and planning to absorb other territories of the Muslim world. However, none of the United Nations member states recognized the Islamic State's sovereignty; it was instead widely designated as a terrorist organization by the international community.

Minting and distribution

In a 2014 issue of the online IS magazine Dabiq, the organization announced that it was preparing to mint an independent currency based on the one used in the historical caliphates.{{Cite book|title=Dabiq|publisher=Islamic State of Iraq and the Levant|year=2014|pages=19}} A design of coins made of gold, silver, and copper was subsequently published. In the 2015 video The Rise of the Khilafah and the Return of the Gold Dinar, IS announced that these coins were set for release.{{Cite web|url=https://english.religion.info/2018/12/23/the-return-of-the-gold-dinar-an-analysis-of-the-islamic-state-coin-production/|title=The Return of the Gold Dinar – An analysis of the Islamic State coin production|date=2018-12-23|website=Religioscope|last=Moos|first=Olivier}} The planned exchange rate to the United States dollar was approximately {{USD|139}}. A number of analysts stated that the organization was motivated to produce such a currency for pan-Islamic propaganda purposes or for emphasizing the sovereign statehood of the so-called IS caliphate, or both.{{Cite web|url=https://www.coinworld.com/news/world-coins/2014/11/can-isis-issues-its-own-coins--.html|title=Can ISIS issues [sic] its own coins?|date=2014-11-17|website=Coin World|last=Starck|first=Jeff}} According to IS media, however, the organization's intent behind the coinage was to allow the Muslim world to be economically independent, particularly with regard to the financial influence of the Western world.{{Cite web|url=https://www.coinworld.com/voices/bill-gibbs/2015/12/some_coins_shouldbe.html|title=Some coins should be off-limits to collectors|website=Coin World}} In 2015, Turkish authorities discovered an underground IS minting facility in Şahinbey, a town near Gaziantep, close to the Syrian border.{{Cite news|title=Secret printing presses making Isis currency seized by Turkish police|url=https://www.independent.co.uk/news/world/middle-east/isis-currency-six-arrested-after-secret-printing-presses-making-coins-found-after-raid-turkish-police-a6685681.html|last=Mortimer|first=Caroline|date=2015-10-08|work=The Independent}}{{Cite news|title=Turkish police raid illicit mint making Isis currency|url=https://www.thetimes.com/travel/destinations/europe-travel/turkey/turkish-police-raid-illicit-mint-making-isis-currency-htwx99q3sv5|last=Smith|first=Hannah Lucinda|date=2015-10-08|work=The Times}}{{Cite news|title=Turkey arrests six over 'minting coins for ISIS'|url=https://www.straitstimes.com/world/middle-east/turkey-arrests-six-over-minting-coins-for-isis|date=2015-10-07|work=The Straits Times}}

Despite the extensive promotion of the IS gold dinar, the currency saw limited circulation. It was almost exclusively used in those parts of IS-controlled territory where it was forbidden to use other currencies.{{cite AV media|url=https://archive.org/details/143124|title=1NS1DE: Inside the Khilafah|lang=ar|publisher=Al-Hayat Media Center|year=2017}} By 2019, as the IS quasi-state collapsed, the gold dinar was replaced by the Iraqi dinar and the Syrian pound.{{cite web|url=http://www.foreigndesknews.com/world/middle-east/isis-introduces-golden-dinar-currency-hopes-will-collapse-u-s-dollar/|title=ISIS introduces 'Golden Dinar' currency, Hopes it will collapse U.S. dollar|website=The Foreign Desk|date=6 July 2016|access-date=15 October 2016|archive-url=https://web.archive.org/web/20180807093307/http://www.foreigndesknews.com/world/middle-east/isis-introduces-golden-dinar-currency-hopes-will-collapse-u-s-dollar/|archive-date=7 August 2018|url-status=dead}}

Coinage

A series of coins divided between gold dinars, silver dirhams, and copper fulûs were released, seeing limited circulation in Syria, with locals' Syrian pounds being taken away and replaced with the dinar in some regions.{{cite web|url=http://www.foreigndesknews.com/world/middle-east/isis-introduces-golden-dinar-currency-hopes-will-collapse-u-s-dollar/|title=ISIS introduces 'Golden Dinar' currency, Hopes it will collapse U.S. dollar|website=The Foreign Desk|date=6 July 2016|access-date=15 October 2016|archive-url=https://web.archive.org/web/20180807093307/http://www.foreigndesknews.com/world/middle-east/isis-introduces-golden-dinar-currency-hopes-will-collapse-u-s-dollar/|archive-date=7 August 2018|url-status=dead}}

There have also been reports that indicate that the coinage publicized by the group has differed greatly in terms of actual circulation.{{Cite web|url=https://www.coinbooks.org/v21/esylum_v21n05a24.html|title=NEW IMAGES OF ISIS COINAGE|date=2018-02-04|website=Numismatic Bibliomania Society}}{{Cite web|url=https://www.coinbooks.org/v21/esylum_v21n52a10.html|title=AN ANALYSIS OF ISIS COIN PRODUCTION|date=2018-12-30|website=Numismatic Bibliomania Society}}

= Characteristics =

class="wikitable"
Image ! Value ! Diameter (mm) ! Thickness (mm) ! Mass (g) ! Composition ! Edge !Obverse !Reverse
align="center" \| File:5 динарів, золото.jpg \| 5 dinars \| 39 \| 2.3 \| style="text-align:right;" \| 21.25 \| Gold \| Reeded \|Inscription and issuer \|World map; value; year of minting
align="center" \| File:1 динар, золото.jpg \| 1 dinar \| 19 \| 1.15 \| style="text-align:right;" \| 4.25 \| Gold \| Reeded \|Inscription and issuer \|7 ears of wheat; value; year of minting
align="center" \| File:10 дірхамів, срібло.jpg \| 10 dirhams \| 38 \| 2.4 \| style="text-align:right;" \| 20 \| Silver \| Reeded \|Inscription and issuer \|Al-Aqsa Mosque of Jerusalem; value; year of minting
align="center" \| File:5 дірхамів, срібло.jpg \| 5 dirhams \| 26 \| 1 \| style="text-align:right;" \| 10 \| Silver \| Reeded \|Inscription and issuer \|Umayyad Mosque of Damascus; value; year of minting
align="center" \| File:1 дірхам, срібло.jpg \| 1 dirhams \| 18 \| 1 \| style="text-align:right;" \| 2 \| Silver \| Reeded \|Inscription and issuer \|Spear and shield; value; year of minting
align="center" \| File:20 філсів, мідь.jpg \| 20 fulûs \| 37 \| 2.6 \| style="text-align:right;" \| 20 \| Copper \| Smooth \|Inscription and issuer \|3 date palms; value; year of minting
align="center" \| File:10 філсів, мідь.jpg \| 10 fulûs \| 29 \| 3 \| style="text-align:right;" \| 10 \| Copper \| Smooth \|Inscription and issuer \|Islamic crescent; value; year of minting

class="wikitable"

Image

! Value

! Diameter (mm)

! Thickness (mm)

! Mass (g)

! Composition

! Edge

!Obverse

!Reverse

align="center" | File:5 динарів, золото.jpg

| 5 dinars