The Bahraini Dinar was introduced as a currency in 1965, six years before Bahrain gained full independence; it replaced the Gulf Rupee at a rate of 10 rupees = 1 dinar. The Dinar is subdivided into 1,000 Fils (the singular form is also Fils); hence it is usually represented with three decimal places denoting the Fils. The 500 Fils (0.500 Dinar) coin is the largest circulating denomination.
Larger denominations have only been issued as non-circulating legal tender and are struck in precious metals. Given that the Bahraini Dinar is one of the most expensive currencies in the world, 50 Dinars is a very high denomination for a coin and has only been struck in gold.
This coin commemorates the establishment in 1973 of the Bahrain Monetary Agency (fifth anniversary, and not 50th as Krause states). As per Decree No. 64 of 2006 with respect to promulgating the Central Bank of Bahrain and Financial Institutions Law, the Bahrain Monetary Agency is now the Central Bank of Bahrain.
It is struck to proof quality and contains 0.4711 oz. AGW.