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Previously, copies of Byzantine coins but without crosses were used. The first silver coins were to follow in about AH80 (699AD) or so we thought until very recently.

The Peus (15% buyer’s premium) sale at Frankfurt on October 31 contained an epigraphic silver dirham and dated AH78. Something not seen before. This is an important coin because it demonstrates that a bi-metallic coinage was envisioned from the beginning. Who knows how to estimate such a coin? Well, Peus opined DM100,000; as good a guess as any. It actually realised DM85,000 (£26,500).