Somalia is a federal republic state located in East African peninsula called the Horn of Africa. Despite the rich historical and ancient cultural heritage of the region, current Somalia is quite politically unstable country. Civil war and a long period of failed state existence ruined the Somali economy and infrastructure left from the colonial past. Somali sultanates were changed into Italian and British protectorates during the colonial era. The modern borders of Somalia were stated in 1960. The legal tender bank notes and coins of Somalia are called shillings, while US dollars are widely accepted too. Both circulated and special Somali coins are numismatic rarities due to remoteness of the country and its political situation.
The lands of present-day Somalia have glorious past, it’s the place believed the mythic Land of Punt was located at. The local inhabitants traded spices, frankincense, myrrh, ivory, ebony, gold and other valuable goods with ancient civilizations of Egypt, China, Rome, Babylon etc. Camels had been domesticated in the Horn for the first time and then expand to North Africa and Arabian Peninsula. The state was one of the first Muslim countries also. Current Somali population is almost completely Sunni Muslim. There are a huge number of ancient ruins on the Somali territory; pyramids, fortresses, mausoleums, megaliths, dolmens, abandoned cities and other buildings remained there from previous civilizations. Tourists industry isn’t developed in the country because of lack of safety.
Nowadays, Somalia sustains its economy by export of agricultural commodities, cattle and fish. Up to 80% of its population is still pastoralists, leading nomadic way of life. Somalia remains the largest exporter of frankincense and myrrh, as it was in the ancient times. The state mints special Somali coins and sells them to collectors. The unique commemorative coins of Somalia are very rare items in coin collections. Special collectable Somali coins are made of precious metals of high rate in distinct decorative style and sometimes quite unusual shapes. Local landmarks and popular subjects are usually depicted on the coins of Somalia, produced for collecting. Some beautiful Somali coins are available at Coinsberg.com for ordering online.
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