/biz/ - Business & Finance

>>24085855
Yes.
Back in the late 40s when the US began buying oil from the Saudis, the Saudis demanded payment only in Gold Sovereigns. Sovereigns were getting difficult to find at the time since they hadn't been minted in any quantity in decades. After quickly exhausting all their other options, the US made their own sovereigns (and an identical 4 pound coin). The process by which these coins were spent was so complicated due to the ban on Gold, ARAMCO actually considered lobbying the Government to repeal it to make things easier for them. This all came to a halt when the Royal Mint started making sovereigns again, which the Saudis preferred over the American Replicas.