The new edition of Iran's Bahar Azadi gold coin was sold for 843 million rials (about $1450) on March 16
The price of the new edition of Iran's Bahar Azadi gold coin rose to 843 million rials (about $1,450) on March 16, increasing from 801 million rials (roughly $1,378) on March 15, the Iran Jewellery Association's web portal reported.
The Central Bank of Iran decided to throw caution to the wind and embrace a floating foreign exchange rate system on May 31, 2024, so now the prices are as unpredictable as a roller coaster ride.
The report noted that the prior edition of the coin went for roughly 776 million rials, which is about $1,335 in the grand scheme of things.
The other versions of the new Bahar Azadi gold coin (different in weight and content) included 1/4 Bahar Azadi gold coins and 1/2 Bahar Azadi gold coins.
A 1/2 gold coin was sold for 538 million rials (about $925), and a 1/4 gold coin - for 278 million rials (about $478).
The price of one gram of 18-karat gold stood at 73.5 million rials (about $126).
The coins appeared in Iran following the Islamic Revolution's victory in 1979. The Central Bank of Iran decided to introduce the coins, putting them up for grabs for both wholesale and retail sales.
The bank minted the old gold coins between 1979 and 1991 before issuing new ones.
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