Malaysia Kelantanese 1 Gold Dinar

Obverse
Kelantan State Crest.

Reverse
Islamic Wordings

Weight 4.25 grams
Gold
Purity 91.6%
Estimated Bullion value = 4.25 grams x Spot Price x 91.6%

The Kelantanese dinar is a currency issued by the Government of the Malaysian state of Kelantan, which purportedly is in conformance with the concept of the Islamic gold dinar. The Kelantanese dinar is available in the form of coins of several denominations. These coins were first struck in 2006 by Mariwasa Kraftangan of Kuala Kangsar, Perak, a local producer of souvenirs and replicas of objects of art and culture, and launched by the state of Kelantan on 20 September 2006. The Government of Kelantan had suggested that the coins had the status of legal tender, and the state-issued dinar sold out quickly, with many buyers seeing the gold dinar as a better choice than fiat money.

However, the federal Malaysian government in Kuala Lumpur denied that the Kelantanese dinar had a legal-tender status, stating that the buyers had been misled by the Kelantanese government. The only currency that is legal tender in Kelantan is the Malaysian ringgit. According to the Malaysian constitution, ninth schedule, list I sub 7.a, the states of Malaysia do not have the right to issue coins. In fact, the federal government had already declared publicly in 2006, in response to the plan announced by the Kelantanese government and before any of the coins were minted, that state governments could not issue their own currency.

The gold dinar has seen significant use in the country. The creator of the currency, Umar Vadillo, has launched an international campaign to bring the currency beyond the borders of Kelantan. Proponents of the currency describe it as being in accordance with the Quran and also the Sunna of the Prophet Muhammad.

Source: https://en.wikipedia.org/wiki/Kelantanese_dinar

So in short, Malaysian had to used their fiat currency for daily transaction and those who had saved in the gold dinar could have preserved most of their purchasing power. I remember that time the Singapore dollar was exchanged at at ratio of about SGD$1.00 to Rm 2.00 but now it is SGD$1.00 to Rm 3.10

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