1974 Cambodia (Kambuchea) 50,000 Riels, (KM#64, .11941 oz, .900 Fine Gold) Raw. While the mintage of these fascinating gold coins is usually considered to be 3,250 pieces, it appears to be even lower. Some sources list a mintage of 2,300 pieces. Judging by the overall availability and scarcity of appearances it appears that many of these coins remained unsold, were lost or simply melted for their gold content. As such, it appears that the 2,300 number would be correct or at least close to the real number.
Struck in Proof format, all original papers and packaging come with purchase. One side of the coin shows three female Khmer dancers with the French legend REPUBLIQUE KHMERE. The reverse has the arms of the Khmer Republic with the Cambodian legend for the country's name at the top, the denomination 50.000 RIELS in Arabic and Cambodian numerals. The date in Khmer and Arabic characters is at the bottom.
Issued in a turbulent time of Cambodian history, these were issued by the short-lived Khmer Republic, which existed from 1970 to 1975. It was the right-wing regime led by Lon Nol and Sisowath Sirik Matak and fought against communist forces in the Cambodian civil war. As for the involvement of the United States in the conflict, which had long been present in the area in Vietnam, it is usually believed that there was at least some involvement of United States forces. Up to this point, however, this has never been confirmed.
The packaging that comes with this coin sheds some further light on this issue, with all text in French. These pieces were authorized by the Ministry of Finance, Planning and Economy, and were struck in both gold and silver. They were announced in July 1974 and sold in a limited edition during the latter part of the year. There does not seem to have been a true reason for the issuing of these pieces, and it seems logical that the proceeds would be further invested in the young, and later short-lived, republic. These gold coins have become increasingly popular during the last few years and are destined to rise further in value during the next few years. Whether you are buying or selling, contact us as we are always interested in these fascinating and scarce gold pieces.