1869, France/Egypt. Matte Proof Silver "Opening of Suez Canal" Medal. NGC UNC+

Description: CoinWorldTV 1869, France/Egypt. Matte Proof Silver "Opening of Suez Canal" Medal. NGC UNC+ Mint Year: 1869 Mint Place: Paris Reference: Lec-1, Divo 606. Condition: Certified and graded by NGC as UNC (Details: Cleaned!) Denominations: Medal - Opening of the Naval Suez Canal in 1869. Weight: ca. 48gm Diameter: 42mm Material: Silver Obverse: Two female allegoric figures representing the French Republic (left) seated on a package of trade goods beneath a cornucopia (horn of plenty), holding symbols of peace (palm-spray), science (torch) and the State of Egypt or the Egyptian People (right), presenting an exotic fruit. Gear-wheel and anvil in background (symbols of industry and crafts). Sketched map of the Suez Canal in center. Legend: L'EPARGNE. FRANCAISE. PREPARE. LA. PAIX. DV. MONDE. Reverse: Inscription in seven lines ("LE.1/17.NOVEMBRE./1869./LE.CANAL.MARITIME./A.ETE.OUVERT./A.LA./GRANDE.NAVIGATION.). Legend: COMPAGNIE . VNIVERSELLE . DV . CANAL . MARITIME . DE . SVEZ . The Suez Company or Suez Canal Company, full initial name Compagnie universelle du canal maritime de Suez (Universal Company of the Maritime Canal of Suez), sometimes colloquially referred to in French as Le Suez ("The Suez"), was a company formed by Ferdinand de Lesseps in 1858 to operate the Egyptian granted concession of the Suez Canal, which the company built between 1859 and 1869. Initially, French investors held half of the Company's stock, with Egypt's ruler Sa'id Pasha holding most of the balance. In 1875, financial distress forced Sa'id's successor Isma'il Pasha to sell the country's shares to the government of the United Kingdom. The Suez Company operated the canal until Egypt's new president Gamal Abdel Nasser revoked its concession in 1956 and transferred canal operation to the state-owned Suez Canal Authority, precipitating the Suez Crisis. Following the loss of the canal concession, the Suez Company received financial compensation from the Egyptian government, the final payment of which was made in 1962, and used this resource to reinvent itself as a major investment and holding company in France. In 1958 it renamed itself the Compagnie financière de Suez ("Suez Financial Company"), and in 1967 changed its name again to Compagnie financière de Suez et de l'Union parisienne, a change that was reversed in 1972. It was nationalized in 1982, then privatized in 1987. It acquired control of the Société Générale de Belgique in 1988, and changed name again to Compagnie de Suez in 1990. In 1997, it merged with water utility and construction conglomerate Lyonnaise des eaux to form Suez-Lyonnaise des eaux. The merged entity renamed itself as Suez in 2001 and underwent several subsequent mergers, spin-offs, and restructurings that led to the creation of the energy company Engie and the water and waste-management utility also named Suez.

Price: 195 USD

Location: Wien

End Time: 2024-10-25T09:28:27.000Z

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