Circulation coins with polymer ring?

[chrisild]

Right, this is being posted in the "news and basics" section, but only because there is no "euro rumor mill" forum.

When the first German €5 collector coins with a polymer ring were issued in 2016, quite a few argued that this would be a nice idea for a new circulation coin. Problem is that in the euro area the coins are issued by the member states while the notes are issued by the ECB. Would be difficult to move that dividing line. Also, several euro area countries have issued €5 collector coins, and collector coin denominations have to be different from those of circulation coins ...

But there have been rumors for a while that a few things are going to change, in 2018 and also in 2019. Well, one change will definitely (or has already) come but is hardly noticeable. In order to make production of the low denominations more "cost efficient" (doing away with the 1 and 2 cent coins is still a country specific decision; the euro area as a whole will not change anything in that regard), the 2018 "copper" coins come with minor modifications. For example, the serifs of the C in the word CENT will be a little rounder than before. Seems that this way more coins can be made with the same working die, but I am not sure.

And then, well, a week ago the Baden-Württemberg mint started the production of next year's €5 coin. The press release in German with several images is here. Interestingly, one of the ceremony participants was Klaus Meyer-Steffens (Crane PI) representing the European Vending Association. He talked about the advantages of such polymer coins in the vending business. Now I wonder whether the mint just invited him in order to "push" the technology, or whether there actually is anything in the pipeline that we mere mortals do not know about yet.

Christian

[chrisild]

Despite the attempts of several member states at reducing the volume of 1 and 2 cent coins, we have more and more of them. Of course they do not actually circulate, but in most euro countries the retailers seem to believe that their customers want them. The consumers, on the other hand, tend to not use them: They get those pieces and stash or trash them ...

Earlier this year, Die Welt (German) wrote that, when the euro cash started circulating in 2002, the share of 1 and 2 cent coins in the euro area was 31.2 percent. Now it is 48.1 percent - thus almost every second coin issued for circulation is such a low value piece.

Now the coins with the polymer ring, since there is no official information about this, all we have is wild guesses. I have read, as in who knows, that introducing a €5 circulation coin is quite unlikely, and that the €2 piece may be modified instead. Again, rumors only - if any of you has more info from a reliable source, post it here. Will do so too.

Christian

[Figleaf]

I suspect that the underlying problem is that the coin producing stakeholders multiplied by five (!) mints will not give up the 1 and 2 cent unless they can have a €5 coin, except that the €5 coin involves a power shift from Brussels to the member states, however small. The EU 'crats will not give up the €5 banknote without a quid pro quo. Giving up the 1 and 2 cent is no quid pro quo for the EU 'crats.

I would offer as quid pro quo an agreement that the member-states promote the €100 note. That would be just a question of pressuring ATM and perhaps post office operators.

Peter

[<k>]

What is the meaning of "Klimpergeld" in that article - "small change" ?

[Figleaf]

Jinglers, janglers, rattlers, tinklers...

Peter

[<k>]

Thanks, Figleaf.

[chrisild]

The EU 'crats will not give up the €5 banknote without a quid pro quo. Giving up the 1 and 2 cent is no quid pro quo for the EU 'crats.

Well, those "EU 'crats" cannot make such decisions without the consent of the francocrats, the italocrats, the germanocrats etc. etc. anyway. That is also why I do not believe we will see circulating €5 coins. Now a €2 piece with a polymer ring would be neat too, but I just read in a German forum that all this will affect German collector coins only, not money that is actually used. Maybe this topic should be buried then. Bummer ...

As for €100 notes, they are around, but I suppose they are more common in Germany than in the Netherlands for example. I do not use ATMs that much any more, but when I go to one of "my" bank's machines, I can get any denomination from €5 to €100 and combinations thereof.

Christian

[chrisild]

In order to make production of the low denominations more "cost efficient" (doing away with the 1 and 2 cent coins is still a country specific decision; the euro area as a whole will not change anything in that regard), the 2018 "copper" coins come with minor modifications. For example, the serifs of the C in the word CENT will be a little rounder than before. Seems that this way more coins can be made with the same working die, but I am not sure.

Seems that these pieces are already around. Have found a few photos online that show the differences quite nicely - on coins dated 2017.   Two Austrian 2 cent coins: http://www.numismatikforum.de/viewtopic.php?f=10&t=57619  On the left you see the old style reverse, and the new one is on the right. The serifs are a little "rounder" indeed, which also means that the bottom left part of the "2" does not get that close to the edge any more. Europe on the globe looks a little different, and the length of the parallel lines has apparently been changed. Look at the last (bottom) line on the right for example.

And in this post (different forum) a member shows a German 2 cent coin and, next to it, an Italian one, both dated 2017: https://www.emuenzen.de/forum/threads/neue-spezifikationen-fuer-umlaufmuenzen.87573/page-2#post-1039873  The coin from Stuttgart has the "old reverse" while the one from Rome already uses the new one. Would not have noticed that myself; the differences are minimal indeed. But they are there. So I guess that is what eurocoin meant here: "the minting of these low denomination coins should be made more cost effective, something in which many euro area mints will have succeeded by the end of 2017" ...

Christian