The Dubai Gold Palm Jumeirah coin was released by the Dubai Multi Commodities Centre (DMCC) and is currently available as a second edition. The coin is among the initiatives of the DMCC to celebrate Dubai and establish its City of Gold status. While the first edition showcased the iconic Burj Al Arab 7-star hotel, this second version showcases the iconic manmade archipelago with a palm-like physical look.
Launched in 2010, the Dubai gold Palm Jumeirah coin comes in four denominations with all of them being 24-carat gold coins with a gold fineness of 999.9 and with serrated borders. The first denomination is the 1 oz. It has a gross weight of 31.103 grams and an equal fine gold content. It is 32 millimeters wide and 2.08 millimeters thick. The ½ oz weighs 15.551 grams in gross and actual gold weight, is 25 and 1.75 millimeters wide and thick respectively. The ¼ oz is 1.21 millimeters thick, 21 millimeters wide and has a gold and gross weight of 7.775 grams. Finally, the 1-tenth oz coin has an actual gold weight of 3.110 grams and an equal gross weight. It has 16-millimeter diameter and a thickness of 0.83 millimeters.
The obverse of the 1 oz coin features the image of Sheikh Mohammed bin Rashid Al Maktoum slightly facing right. The inscription, “H.H. SHEIKH MOHAMMED BIN RASHID AL MAKTOUM UAE VICE PRESIDENT. PRIME MINISTER AND RULER OF DUBAI” appears above right his head in two lines while the Arabic version of the text is below the head in two lines as well. The reverse of the Gold Palm Jumeirah coin contains the engraving of the Palm Jumeirah with the inscriptions, “1 oz. Gold 9999” in English and Arabic towards the top-left and top-right respectively. The inscription, “Dubai [Year]” appears on the bottom-left while its Arabic equivalent appears on the right. There are slight variations in the other denominations like the image bust facing left on the 1/2 oz.
Trading in the Dubai Gold Palm Jumeirah coin is duty-free. Argor-Heraeu, a swiss refinery, mints these coins. The refinery is accredited to the DMCC DGD (Dubai Good Delivery) standard.