This sterling silver was issued in the state of Kelantan, meant to be circulated in the market with value at last peg of RM20.00 for 1 Dirham. Whilst the effort of the the state government is very much applauded, but the real intention has never been achieved because most of the silver and gold (Dinar) was bought for private investment (read for me: collection).
I was amazed that 1 Dirham was the most sought after that every mintage was quickly snapped out.
These dirhams are available in 1, 2, 5, 10, 50 and 100. As the selling price is RM20, one piece of 100 dirhams would easily cost RM2,000. I wonder how are you going to take around 100 dirhams silver in your pocket.
I bought 2 pieces of 2 dirhams for RM20 each and 1 piece of 5 dirham for RM100 at Koperasi Pasar Siti Khadijah, Kota Bharu. (I am still looking to get at least one piece of 1 dirham into my collection)
Update: Recent price for 1 Dirham = RM25.00 (02/Dec/2011)
Dec/2011 - I finally have 2 pcs of 1 Kelantan Dirham.
Dec/2011 - I finally have 2 pcs of 1 Kelantan Dirham.
