Author Topic: (non-)circulating commemoratives  (Read 259 times)

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Offline Figleaf

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(non-)circulating commemoratives
« on: January 29, 2019, 02:37:34 PM »
It looks like at least these will be brought into circulation. I am irritated by the 2 euro coins sold above par only (like Belgium 2019). That's what the funny values, like 1 and 5 euros are for. Maybe it's time to stop issuing commemorative 2 euros altogether, except for joint issues.

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

Offline eurocoin

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Re: (non-)circulating commemoratives
« Reply #1 on: January 29, 2019, 02:41:00 PM »
I think the denomination used for commemoratives should be changed to one that is actually still being minted in large quantities by a majority of the Eurozone countries.

Alternatively instead of changing the entire obverse, mints should be allowed to add a mark to the standard coins to commemorate certain events like is being done in Australia.

Offline chrisild

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Re: (non-)circulating commemoratives
« Reply #2 on: January 29, 2019, 03:45:43 PM »
Basically I am OK with the "two per year" limit, and of course nobody is forced to collect any coins that cannot be had from circulation. ;)

Then again, it is kind of strange indeed how we have fairly rigid rules in monetary agreements (x percent of the annual volume has to be issued at face) but are extremely "forgiving" when it comes to how euro area member states can make money with 2 commems. So why not keep the 2/yr maximum but allow such issues only if at least 2/3 or 3/4 of the pieces (per issue) are distributed at face value ...

Christian

Offline eurocoin

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Re: (non-)circulating commemoratives
« Reply #3 on: January 29, 2019, 04:34:41 PM »
The monstrosity in Brussels will unlikely solve this problem any time soon.

Offline chrisild

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Re: (non-)circulating commemoratives
« Reply #4 on: January 29, 2019, 04:54:00 PM »
The monstrosity in Brussels will unlikely solve this problem any time soon.

Yes, I know that the issuer of the surcharged Belgian 2 commem which Peter mentioned is located in Brussels ...

(Can we get this topic split/moved maybe?)

Offline eurocoin

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Re: (non-)circulating commemoratives
« Reply #5 on: January 29, 2019, 05:20:50 PM »
I rather meant the European institutions in charge of this.

Offline chrisild

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Re: (non-)circulating commemoratives
« Reply #6 on: January 29, 2019, 06:11:48 PM »
I rather meant the European institutions in charge of this.

Sigh. I did understand the EU bashing of course. My point was that, in the case of the coin that Peter mentioned, it was the Belgian government that made the decision. Quite obviously they are not interested in "special" circulating coins, so I don't really see any option other than a European regulation ... at some point. Unlikely? Maybe, maybe not. :) For the time being, I just don't collect pieces that cannot be had at face. I will still buy them, such as the two Greek ones, but at least I know they could be picked up from circulation.

Offline Pabitra

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Re: (non-)circulating commemoratives
« Reply #7 on: January 29, 2019, 08:07:41 PM »
European Union  institution in Brussels was actively pressing countries like Vatican and Monaco to release a percentage in to circulation.
Now, there is no demand in Belgium for more coins and National Bank as well as mint refused to work hard and do the marketing of these circulation commem 2 coins.

Whereas France and Germany issued the coins at face value in WMF, Belgium never bothered to put a stall.

Now the private owners of Belgian mint have put their stall in WMF and if they have good demand for the 2 Euro coins, they might have combined Belgium and Netherlands stall next year.

Offline chrisild

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Re: (non-)circulating commemoratives
« Reply #8 on: January 29, 2019, 09:06:07 PM »
Yeah, I was surprised about that too: Both the Royal Mint of Belgium and the Royal Dutch Mint have booths at the WMF, but in different locations (BE: B0, NL: D4). Even the US Mint is now there by the way! (Sure, off-topic again ... >:D )

Christian

Offline Bimat

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(non-)circulating commemoratives
« Reply #9 on: January 30, 2019, 03:24:01 PM »
Even the US Mint is now there by the way! (Sure, off-topic again ... >:D )

Trying to sell American stuff to (mostly) European collectors? That's not going to be a profit making business... >:D

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

Offline chrisild

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Re: (non-)circulating commemoratives
« Reply #10 on: January 30, 2019, 07:32:53 PM »
The idea of issuing commemorative 2 coins that are not made for circulation violates the "guidelines" published by the European Commission, see this topic. There is a link to a PDF overview on the EC website which explicitly says "Issued at face value" for both the regular and commemorative coins.

Of course such an overview is not a legal requirement, and of course both the mints (or central banks) and the collectors are interested in "special editions" such as proof pieces, BU sets, or maybe coincards. But 2 commems that cannot be had at face value at all, and can only be purchased like the surcharged like collector coins, defeat the purpose of such issues.

Christian

Offline Big_M

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Re: (non-)circulating commemoratives
« Reply #11 on: February 03, 2019, 12:17:45 PM »
Just to clarify: Royal Belgian Mint is stil a public entity of the SPF (Federal Minstry) Finance, while most of their activities including production and distribution outsourced to the Dutch Mint (in turn, now owner by private Belgian capital). However, at least some of the marketing activity and possibly design (see the topic about Luc Luycx) is still handled by the Royal Belgian Mint. They also kept some roles not related to coin production.

Offline Pabitra

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Re: (non-)circulating commemoratives
« Reply #12 on: February 03, 2019, 01:58:21 PM »
Yeah, I was surprised about that too: Both the Royal Mint of Belgium and the Royal Dutch Mint have booths at the WMF, but in different locations (BE: B0, NL: D4). Even the US Mint is now there by the way! (Sure, off-topic again ... >:D )

Christian

What all were they offering in Berlin?

Offline Bimat

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(non-)circulating commemoratives
« Reply #13 on: February 03, 2019, 02:10:41 PM »
How often you find a Luxembourgish or a Maltese 2 commemorative in circulation? (Or, do you find it at all?) Neither Luxembourg not Malta offer rolls of 2 commemorative coins for face value...

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

Offline Pabitra

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Re: (non-)circulating commemoratives
« Reply #14 on: February 03, 2019, 02:29:42 PM »
At least for Luxembourg, I can verify that they release some percentage in to circulation. I have found a circulating commem coin of Luxembourg in Luxembourg few years back.