Author Topic: Cypriot Euro Coins Dated 2016  (Read 908 times)

0 Members and 1 Guest are viewing this topic.

Offline Bimat

  • आदित्य
  • Global Moderator
  • Honorary Member
  • *****
  • Posts: 11 378
  • Mumbai, India.
Cypriot Euro Coins Dated 2016
« on: September 19, 2016, 09:37:42 AM »
Staring October 3, Central Bank of Cyprus will start selling regular Cypriot euro coins dated 2016 through its e-shop. Mintage of each denomination is 100,000, out of which 7000 coins are part of annual BU set (already issued). The coins will be sold in rolls for nominal value + 5% of nominal value as handling charges + Postage + Insurance Costs + VAT wherever applicable. These rolls can also be bought from Central Bank's designated counters in the country.

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline Figleaf

  • Administrator
  • Honorary Member
  • *****
  • Posts: 30 185
Re: Cypriot Euro Coins Dated 2016
« Reply #1 on: September 19, 2016, 10:46:15 AM »
To put that in perspective, Cypriot euro coins are practically impossible to find in circulation outside Cyprus, while they are plentiful on the island. Unless you know someone living in Cyprus, it will be hard to complete a set.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Bimat

  • आदित्य
  • Global Moderator
  • Honorary Member
  • *****
  • Posts: 11 378
  • Mumbai, India.
Cypriot Euro Coins Dated 2016
« Reply #2 on: September 19, 2016, 12:47:47 PM »
Population of Cyprus is little above 1.1 million according to 2011 census. Mintage of 100,000 per denomination (or 93,000 excluding BU coins of each denomination) seems sufficient for the entire population. When ECB approves mintages of coins, does it take into account only the requirement of the particular country, or euro zone as a whole?

(To put things in perspective, population of Mumbai alone is over 15 million. How many coins would Mumbai alone need annually?  ;))

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline Figleaf

  • Administrator
  • Honorary Member
  • *****
  • Posts: 30 185
Re: Cypriot Euro Coins Dated 2016
« Reply #3 on: September 19, 2016, 04:12:31 PM »
From memory (chrisild will know more/better), the EU looks only at population. I hear that this is is how the Belgian mint survived. They struck coins for which there was no domestic demand and somehow circulated them in the Netherlands. Cyprus doesn't have its own mint, though.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.