turkeypin

By Coinweek News Staff….

According to an Agence French Press report published on October 7, 2015, Turkish authorities arrested six suspected members of the Islamic State on suspicion of trying to manufacture coins for use in ISIS-controlled territory in Iraq and Syria.

The six men were arrested in Gaziantep, a city in Turkey’s southeastern territory, a mere 60 miles north of Syria.

AFP reported that in the course of the investigation, police seized coin punches, presses, and other equipment. This is corroborated by Turkey’s Cihan News Agency, which uploaded a video to YouTube today that shows police opening two duffle bags filled with mint equipment.

httpvh://youtu.be/S4glwNi8hJs

Dies in the bag resemble coins the Islamic State has showcased in propaganda videos posted online.

In September, CoinWeek’s Mike Markowitz discussed the proposed ISIS coin denominations in detail. You can read that article by clicking here.

It’s unclear how many coins the alleged coiners struck. Turkish media reports that only 56 coins in four denominations were seized during the arrest. Despite ISIS’ ambition to topple the western monetary system, there have been no credible reports so far of widespread circulation of the coins in ISIS-controlled territory.

The identities of the suspects had not been made public at the time of this report.

 

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