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The E-Sylum:  Volume 4, Number 52, December 23, 2001, Article 4

EURO COIN DEBUT

  Ralf W. Böpple writes: "Today, Monday 17, 2001, the new
  euro coins were made available to the public here in Germany.
  The money will be legal tender as of January 1, 2002, and will
  replace the national currencies of the member countries of the
  euro area. Traditional and historic currencies like the French
  franc, the Spanish peseta, the Austrian shilling, the Italian lira,
  and the German deutschmark will thus become a closed
  chapter of numismatic history!

  Of course I was among the first to enter my bank branch this
  morning to trade in 20 deutschmarks for a 'starter kit' (yes,
  the English term is used in Germany) of euro coins worth
  EUR 10.23. These kits are now made available all over the
  euro area, so that the people can get used to the new coins
  before they will be able to spend them from next year on.

  These coins are sold in little transparent plastic bags, and
  due to the different absolute exchange rates in the different
  member countries, each country has a different assortment
  of coins in its starter kit.  It is predicted that these little
  packages will soon become a collectible of its own.

  As you might be aware, the euro coins have the same
  specifications in each member country, as well as the same
  obverse. Only the reverse is different, similar to the US state
  quarters program.  Unlike in the US, where this program has
  already sparked great attention from old and new collectors,
  this has not happened yet in Germany - one will have to wait
  and see what happens when the first coins with 'foreign'
  reverses appear in circulation in Germany (and it will be
  interesting to see where they come from and how frequently
  they will ultimately be seen).

  Also, the numismatic community in Germany has been very
  busy with promoting the collecting of the soon-to-be-gone
  deutschmark. So far I am aware of only one catalog in
  German language that provides possible collectors with
  detailed information about the new euro coins (with minting
  dates, mintmarks, minting figures, etc.).  Cardboard albums
  with holes that can be filled with coins plucked from
  circulation seem to be an American specialty, since I have
  yet to see one on the market for euro coins.

  Euro banknotes are not part of the starter kits and will
  become available to the public only after January 1, 2002.

  Monetary reform usually comes at the end of years of
  economic hardship and generally bad times. With the
  introduction of the euro, this is not the case (at least I
  would not compare the present quasi-recession with,
  e.g., the hyperinflatory times of the early twenties of the
  last century). Let's hope that if I will ever live to see
  another reform, it will be an experience as positive as
  this one!

  A happy holidays season to all of you from Stuttgart,
  Germany!"

  Wayne Homren, Editor

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