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The monetary unit of the State of Libya is the Libyan dinar. 1 dinar is equal to 1000 dirhams. There are coins in denominations of 500, 250, 100, 50, 20, 10, 5 and 1 dirham. Until 1975, old coins in millems (equal to dirhams) were in use. In 1975, coins in denominations of 1, 5, 10, 20, 50, 100 dirhams with images of the coats of arms of the countries of the Federation of Arab Republics, which ceased to exist in 1977, were put into circulation. In 1979, a second series of coins of the same denomination was issued with the image of a horseman instead of coats of arms. In 2004, coins of 250 and 500 dirhams appeared. The minting date on the coins is indicated according to the Islamic calendar.