Getting 5 euro pieces to circulate

[BC Numismatics]

Getting a bit off topic: it seems like Slovenia does want their 3 euro commemorative coins to circulate.  They are minting thousand of those coins with circulation quality next year as well.  This year, maybe because it was the first ever 3 euro coin, it finished in hands of collectors and normal people that do not want to let it go (I have two for example), but if the Slovenian government continues minting those coins at those numbers, I think sooner or later they will circulate.

Actually I was told by a person living in Slovenia that the current 3 euro coin does circulate, rarely, but can be seen.  I think it is cool that all countries do that, regardless the fact that can only be used within that country; some how it gives a unique character to that country.

Thanks,
Miguel

Miguel,
  Have you been informed about what the Slovenian 2009 3 Euros will commemorate,as seen as the 2008 issue commemorates the Slovenian Presidency of the European Union?

Aidan.

[Miguel.mateo]

From another forum, but no official source yet (it seems like an insider):

100th Anniversary of the first airplain flight in Slovenia

- bimetalic coin 3 €, mintage up to 300.000 pcs,
- silver coin 30 €, mintage up to 8.000 pcs,
- gold coin 100 € mintage up to 6.000 pcs
   

100th Anniversary of birth of the painter Zoran Mušič

- silver coin 30 €, mintage up to 8.000 pcs,
- gold coin 100 €, mintage up to 6.000 pcs

As you can see 300,000 3 euro coins for circulation ...

Thanks,
Miguel

[BC Numismatics]

Miguel,
  That's very interesting.A plane-related coin in circulation will prove to be very popular.

Aidan.

[chrisild]

As a coin collector I don't mind the regionalization of our money of course. But apart from that ... Maybe Germany should then start issuing a €5 circulation coin. Guess that many people here will prefer it over those paper fivers. Sure, the coins would not be legal tender anywhere else in the currency union, but apparently these days such considerations do not matter much any more.

Christian

[Miguel.mateo]

If I am not mistake again, 10 euro German coins can be bought at face value, but their mintage is low and they do not circulate.  We had a similar case with France, you could go to a post office and ask your change in the latest commemorative coin (a 5 euro and 15 euro coins commemorating EU presidency, silver coins). 

So, if practice is telling us that countries are indeed trying to have a stronger coins to circulate, I do not see why the ECB does not want to make a stronger EU legal tender coin.  I do believe that sooner or later will happen, so I will not be surprised to see a bimetallic 5 euro coin.  Again, counterfitting may be the only problem ...

Thanks,
Miguel

[BC Numismatics]

Miguel,
  South Africa changed the composition of its 5 Rand coin in 2004 from nickel-plated steel to a bimetallic coin as a way of combatting forgery.The bimetal 5 Rand has a security edge with a groove.Inside the groove,it is inscribed.

Some countries that are part of the Eurozone could take a few pages from South Africa's book,& issue bimetal 5 Euro coins,& allow them to circulate along with the current 5 Euro notes.

Aidan.

[a3v1]

Some countries that are part of the Eurozone could take a few pages from South Africa's book,& issue bimetal 5 Euro coins,& allow them to circulate along with the current 5 Euro notes.

@ Aidan,
Only the European Union as a whole (all 27 member states should agree) can decide on a 5 € coin intended to circulate in all Euro countries.
Regards,
a3v1

[BC Numismatics]

@ Aidan,
Only the European Union as a whole (all 27 member states should agree) can decide on a 5 € coin intended to circulate in all Euro countries.
Regards,
a3v1

A3v1,
  I thought that it was a matter for individual member states of the Eurozone to make that decision,not the whole E.U..If a country wants to issue a 5 Euro coin to circulate within its own borders,then they should be free to issue a coin of that denomination,& to choose what design(s) to put on them.

Aidan.

[a3v1]

Aidan,
Many Euro countries already are doing that, and have done so for several years. After all, in fact there's nothing new in your remark

Some countries that are part of the Eurozone could take a few pages from South Africa's book,& issue bimetal 5 Euro coins,& allow them to circulate along with the current 5 Euro notes.

So I took it that you meant that a single country could decide for a 5 € coin for general circulation in all of the Eurozone.
Regards,
a3v1

[BC Numismatics]

Aidan,
Many Euro countries already are doing that, and have done so for several years. After all, in fact there's nothing new in your remark So I took it that you meant that a single country could decide for a 5 € coin for general circulation in all of the Eurozone.
Regards,
a3v1

A3v1,
   I did not say that.It would be good if each individual member state of the Eurozone decided to strike 5 Euro coins in quantities of millions instead of hundreds of thousands,& allow them to generally circulate as money within the issuing country's borders.Nothing could affect the legal tender status of the 5 Euro note.Papua New Guinea has recently issued a bimetallic 2 Kina coin for the very first time as a circulating coin,but the 2 Kina notes will still be issued,& remain legal tender.

Aidan.

[chrisild]

It would be good if each individual member state of the Eurozone decided to strike 5 Euro coins in quantities of millions instead of hundreds of thousands,& allow them to generally circulate as money within the issuing country's borders.

I agree. Of course such issues would defeat the purpose of having the same currency and the same cash throughout the euro area. But if that is what people want ... I just wonder whether it is primarily the disintegrationist trend in the EU, or the supporters of cashless payments, that endorse such developments.

Christian

[tonyclayton]

I agree. Of course such issues would defeat the purpose of having the same currency and the same cash throughout the euro area.

We have different coins and notes in the United Kingdom.  They circulate perfectly happily, and although not legal tender, matching coins of the Channel Islands and others are often found in change.  I have even spent a Scottish one pound note in Surrey not so long ago.

If a country finds that 5 euro coins become popular, then they will surely start to be accepted elsewhere, provided that they have the same weight, size and alloy combination.

[Miguel.mateo]

Guys,

If I am not mistaken, any euro coin, even collectors' coins, are mandated by the ECB.  So if a country wants to mint "millions" of coins just to circulate within the country, they should get approval from ECB for that (please correct me if I am wrong). 

As I said, Germany tried and did not work (they have been minting 10 euro coins at face value, they do not circulate), Austria is trying (with the 5 euro coins, but they have done it for years already) but is not there yet, France is trying (they just did for the first time with the 5 and 15 euro coins, but France have another problem, their collectors' coins business is popular and profitable, so it may be difficult to give coins at face value) ... I think it is only "succesful" so far in Slovenia because it seems like they are minting more in "circulation" quality, than UNC, BU or Proof.  For a relative small country like Slovenia, minting 300,000 3-euro coins is a lot of minting, and a lot of money, I think they will do finish circulating freely, not rarely, there. Now I will not be surprised if the ECB approves more coins for Slovenia, or restrict them from doing so in 2010. 

I do believe though that a 5 euro coin, across the whole Eurzone (18 different coins, one per country) will be a really cool idea and the ROI of it should justify such an investment.  I still think that the only concern to go for that idea is counterfiting, and how many "new technoliges" need to be done to mint them and avoid the problem.  The Southafrican sample is good (very good actually), but that means that the minting of those coins is more expensive, then may not be worth the try.  The moment some one find a technology, that is good and cheap, I do not see why not this conversation should not be taken seriously.

Just my two yen worth opinion...

Thanks,
Miguel

[BC Numismatics]

Miguel,
  Did you read earlier about the South African bimetallic 5 Rand coin? The 5 Euro coin could be a bimetallic one like the 5 Rand.

Aidan.

[Miguel.mateo]

Aidan,

I read it, I just do not know how expensive is that technology.  If it is cheap to implement, I do not see why not a €5 coin should circulate across all of the Eurozone.  But anyway, this is not for us to decide

Thanks,
Miguel