What does this "Private Issue" mean? [solved]

Hello,

On this coin:
https://en.numista.com/catalogue/pieces19275.html

It says that it was minted privately in Lebanon the year before it was released into circulation in North Yemen (1956), which is a little confusing- was it minted by a private company on contract with the Yemeni government, or something?

I can't seem to find any other sources on this, any info would be appreciated.

I guess., private is any issue which is not legalized by National Bank.

yours,
d

Sovereign or government-issue bullion is defined as “bullion minted by a government or for a government and denominated in local currency.” Government bullion is designated as legal tender coins and bars that have been minted by a country’s national mint; thus, its purity and value is “backed” by that nation’s government.

In contrast, private bullion refers to bars and/or rounds minted by a private company. Unlike sovereign bullion, private bullion is not backed by any government, which, for some investors, is preferable over government-issued bars and coins. Rounds are what we call private bullion made in the shape of a coin.

Quoted from: https://www.providentmetals.com/knowledge-center/collectible-coins/sovereign-private-bullion.html

a 22mm aluminum common coin worth less than 1c is not a bullion coin.

I don't know what North Yemen was like in 1956 -was there even a government..? I would guess this is something like a notgeld issue.

Yes, I don't think privately struck bullion is going to be relevant to the answer; but thanks anyway, Kipsley.

However, I was wondering initially if that coin was made by contract in the mint of a Lebanese private company? If it's an issue that wasn't legalised by the central bank or government of the country, then why did it circulate in North Yemen?

That, is the question.

Did you ask the referee first?

Quote: "Jarcek"​Did you ask the referee first?

​I just asked him (Amer) to take a look at this thread.

I'm afraid the only source seems to be Krause
I remember back then when I worked on Yemen I couldnt find sources, and I did another round of research now, and everyone seems to be quoting Krause on it, so I'm afraid I have no answer.
The "private issue" name is just to differentiate from the normal issue - again based on krause's info

I'm not sure where exactly did Krause get it from, but the Lebanon attribution appears in a work as serious as Pridmore's The Modern Coins of the Mutawakkilite Kingdom of the Yemen: https://archive.org/details/seabyscoinmedalb1963base_l3a1/page/233

"The coins were ordered in 1955 from the Societé Orientale des Metaux Precioux, P.O. Box 1113, Beirut, Lebanon, and the first shipment reached Yemen, via Aden, early in 1956. Issue to the public took place in May 1956."

Thanks a lot for this!
i will add this info
EDIT: info on both sheets updated - thanks again
​​​​​​
so it seems for some reason they contacted a private mint rather than minting locally

Being struck at a private mint does not necessarily mean that the coins are not an official legal tender issue of that country. All of the Pacific island countries (even New Zealand) are way too small to have their own mint, so they have to outsource their coins, both circulation and non-circulating legal (NCLT) tender, from somewhere. They'll typically go for the lowest bidder, which in the 1970s was the Franklin Mint. These days the Royal Canadian Mint wins most of the contracts from these countries for circulation coins, while Perth Mint and others typically do the NCLT.