Liquidating another set

This is a set that I purchased and have been randomly replacing the coins with “upgrades” as I find them. Unfortunately, their exchange value exceeds their silver or numismatic value, so it’s one to take this one to the bank. There are 24 coins at 10 DEM, making 240 DEM, or 122.71€, which converts to about $137.79. Fun fact: in 1972, silver was under $1.65/oz for half the year and spiked at around $2.05/oz in December.

Don’t worry, I checked all of them for the rare Arabic design on the edges.

 

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I love that set. Only have a couple designs though. I went on a spree for awhile on ebay buying any German silver 5 and 10 marks I could find for melt value. I was hoping to get one of each of these designs but they consistently went for more than I was willing/able to pay.

 

It is a lovely set. I have an extra box or two if you want the case, I can send it to you for free; I'll even give you the original paperwork that's photographed there if you'd like. I go on buying sprees during ebay Bucks periods but for some reason DEM and Euros are starting to sell for over face value, so slim pickings these days.

 

If I had the case that would force me to finish the set and that might anger the wife lol.

 

Haha! Well, PM me if you want to risk it. I'll be taking the coins to the bank in two days, but will likely just end up tossing the cases in recycling.

 

I have been studying this set!

Olympics coins were a major source of Olympics funding in the twenty-year period 1970~1990. They've been replaced as the major funding source by the plethora of other, better selling, merchandizing articles, and by royalties, sponsoring and television broadcast rights.

However, in the 1970s and 1980s, Olympics commemoratives were king!

These Munich Olympics coins funded the 1972 Olympics through seigniorage funding.

Let me explain: In my examination of the different funding sources from the sale of Olympic coins, two common schemes emerged: Seigniorage funding and surcharge funding. The West German government opted for seigniorage funding when it subsidized the 1972 Munich Olympics by selling its Olympic coins at their face values and renouncing the seigniorage (the face value minus minting and other costs), which was utilized to fund various Olympics and post-Olympics expenses. Essentially, it was a government subsidy of the Olympics.

On the other hand, the 1976 Montreal Olympics coin programme funded its Games via $24 million that it gained in surcharge sales. Surcharges are a sort of sales premium added to the face value of the coins when they are sold. As for the seigniorage, the Canadian government retained its $100 million in seigniorage from this sizable Olympic coin issue. During debates in the United States congress over the marketing scheme of the 1984 LA Olympics coins, the private marketers who sold the 1976 Montreal coins argued that the Canadian government actually used the seigniorage in addition to the surcharges to fund the Olympics, but other disagreed. I still don't know who is right about that. Perhaps a Canadian numismatist here can help?

I also learned:
Because people generally collect these and don't spend/redeem them as money, there is some confidence that the government will not increase the M1 money supply (cash) by issuing Olympics commemorative coins. The silver and gold content of the coins vis-a-vis the coins' denominations generally takes care of that little problem...

 

Very cool, thanks for sharing. You're making it harder to say goodbye to these

 

It's a beautiful set. I sure wouldn't.

 

These all differ by mintmark, right?

 

I can't afford to be any more of a hoarder than I already am...

 

Yes they are. I’ve got them organized by mint mark based on the enclosed diagram:

 

Hoarder? Or collector of the finer things in life?

 

I'll defer to my wife for the answer to that one...

 

I want to look into one of these
My mother lived in Germany as a child and would know about the 72' Olympics.
Thanks for sharing @Seattlite86

 

If you lurk eBay long enough, you can find a set for near exchange value.

 

Dang.
That's what I hate about Olympics commemoratives: They were made to make money for the Olympics, not to maintain their values over time.

I notice that Olympics commems' perceived values are high upon release, and they maintain a re-sale profit margin for a few years, then a few years later they totally tank.

An Olympic proof set that South Korea issued in 1982 was valued at over $300 USD in 1984 in South Korea (in 1984 USD). Today it sells for only around $135 USD ...in 2019 USD!

 

Agreed. I have little faith in any modern commemorative coins holding value.

 

Ah, there is always the Gracia Patricia (Grace Kelly) €2 coin from Monaco issued in 2007. Mintage about 20,000 - and the best price was 110 euro, at a memorial exhibition in Monaco. These days it costs 1,500 to 1,800 euro. Whether it will hold its value over time I don't know of course.

As for these Munich Olympics coins, I have (and will keep ) them too. Well, I do not care about mintmarks, so I have six in my collection. Two interesting details about these: They are not actually dated but simply show the reference to 1972, even though the first one came out in 1970. Also, the GDR government in East Berlin objected to the text "in Deutschland" as officially the Olympics are in a city, not a country. (Maybe it would have been OK for them had the coin said "in the Federal Republic of Germany", who knows ...) So the first type had be issued again, this time saying "in München".

These were the first collector coins from this country that would come from all (then four) mints. And yes, most of the pieces could be had at face value - this is still done today, even with silver coins. But of course the proof version of every Munich Olympics coin was surcharged.

Side note: The coins that show the Olympic Center from above (third column from the right in your image) also have the start and end dates. However, due to the terrorist attack when several athletes from Israel were killed, the last day of the 1972 Summer Olympics was one day later ...

Christian

 

Everything today is popular and hot until the next new and hot thing comes out.

 

Proof versions were sold with surcharges? That makes sense, although I'd like to know where I could cite the source from which that comes. Do you know where I could find the source, Christian?