Hello, I'm new to the forums but not new to coin collecting, having been active for 5 years now. I have multiple silver Euro's in my collection. The question is, what will happen to the value of silver euro coins should the Euro fail? Will they be affected at all? Will they go up as they get rarer?
In my opinion it will still be linked to the price of silver because the mintages do not change. Now whether the collapse of the Euro makes the price of silver skyrocket or plummet is another question which I'm afraid I cannot answer.
Maybe rise for a bit while the minting of silver coins goes from the euro to the individual coountries of which it is comprised. Less silver going into the market might raise the price as the member states will start gearing mint production towards their individual currrencies, whatever those might be. Thoughts?
Last time I checked, the euro was still around, and I hope that those in the Anglo-Saxon world who are eagerly waiting for it to collapse will have to wait for a long time. Also, the minting of coins does not "go from the euro" to the single member states. You may know that silver and gold euro coins are made for collectors only. They are issued by the individual countries and are not even legal tender outside the issuing member state. Now the circulation coins and commemorative €2 coins are legal tender in the entire euro area. But even those are issued by the single member states; the European Central bank merely checks the issue volume. And of course such pieces are not made from silver, gold or platinum ... Christian
Who, us??? Time is a relative thing ... I do hope that the €urocrats will see sense some time soon and kick those banker types out ... hope those in the EU remain safe, regardless of what happens. Merry Christmas to you - and home Sintaklaas brings you goodies! (There was an article on Sinterklaas in the UK's Daily Telegraph just today!)
Not all of you, of course. But there are quite a few who seem to believe that we will have a "euro crisis" as long as the euro exists. In other words, the only way to make them happy is to do away with the common currency. Now when it comes to the values of coins, well, the intrinsic value of a silver or gold piece would not be affected if the euro ceased to exist. But some people may stop collecting them, or even try and sell them, and that may affect prices ... The face value would not change either, at least in those countries that have an long term or unlimited redemption policy. Over here for example all coins (with one exception) and notes issued by the Federal Republic of Germany can still be redeemed, even 60+ year old pieces that were take out of circulation many years ago. That would, unless we get into some major economic disaster, most probably be done again. "PS": Sinterklaas comes to our Dutch neighbors, in early December (5-6 Dec). Originally that was it, but these days he is busy around Christmas too. I'm in NW, Western Germany, and here it's either the Weihnachtsmann or the Christkind who come on the evening of the 24th or on the 25th. Merry Christmas! Christian
I was in Germany a few years and got some 10 euro Silver Albert Einstein wiht EMC2. The silver value is now greater then 10 Euro. So my question Christian is the coin is not legal tender in other countries, but only in Germany?
Right. The "regular" coins (eight denominations from 1 cent to 2 euro) are legal tender in the entire currency union, and so are the notes. Those other pieces are, well, regional money. A German €10 coin (these days they are Cu-Ni; the silver version is surcharged) is legal tender in Germany only, an Austrian one is "good" in Austria only, and so on. Does not really matter as those pieces do not actually occur in circulation anyway. Christian
Little off topic but from what i am hearing economic slow down is happening in Euro zone and if this turns into a recession and affects Germany. That blows all the economic models out of the water since debt burden will greatly increase even among the non PIIGS. How is Germany going to bail out the Euro when they themselves are facing a recession?
Personally, I always thought the €uro was doomed to failure. Disparate economies in Europe made the Euro a good deal for the weaker nations, not so much for the stronger nations like Germany and France. The Germans are already grousing about the weak sisters like Greece et al. Don't expect them to keep bailing out the spendthrift nations that refuse to put their fiscal houses in order. Just my 2¢
Personally, I think several smaller nations will exit (either voluntarily, or be pushed). If that happens, what will the legal tender status of those countries' coins [by looking at the national side] and notes [prefix letter] be?
Ask those US agencies that play with the credit ratings. Poor and moody, right? Yes, of course a currency union cannot work without further economic and fiscal integration. But many here, myself included, hoped that - as with various other prior issues in the European Union - this would be dealt with. (As in, "hmm, now that we have this common currency, let's do a little more about the framework".) Well, in the first couple of years that did not happen. Whether it can be done now, we'll see. And sure, we do have or are facing economic problems. I just don't quite see why breaking the currency union apart would actually solve them. Those who now advocate to do away with it are probably those who will then "play" with the 17 single currencies. May be easier for them ... Christian
But if they break the union apart and lets say Greece goes back to Drachma. Their currency can devalue against the dollar attracting more tourists, it allows them to follow their own monetary policy best fit for their nations' economy.
Well from my point of view the Euro was just a little too ambitious. I feel sorry for Germany and northern European countries as your economies are being pulled down by your less frugal southern neighbors. Europe, in my view, is divided north and south, and the southern economies simply not great partners unless there is thorough integration and real restrictions on budgets. Maybe Europeans view the Anglo Saxon world wishing for a failed Euro, but I do not think we are. Personally I think a retrenched Euro of just northerly countries would be much stronger than the Euro is today, and I am ok with that. If they try to stick to the current countries, I think you will either: 1. Continue to have bailouts forever, or 2. Simply tax the more prosperous countries directly to pay for southern ones Either way I think its simply unfair to half the Eurozone, and if I were in the north I would be pretty dang upset about it. Best of luck with it sir, and Merry Christmas. Chris P.S. Jjack is right by the way, many of these countries have spend themselves so far into a hole that without a currency revaluation I don't see much of a potential rebound to their economies. Greese is dependent on tourism , and a very high Euro affects them much worst that countries like Germany, (though exporters of course are hurt in Germany).
Not that this has anything with the value of silver coins but if Greece wants to leave the European Union (which would be the only "legal" way of leaving the euro are), the country can of course do that. We all know that there are some structural problems, particularly but not only in Greece. However, the current problems are fueled by various factors, and if Greece left the EU and introduced its own currency, would that do away with CDS or hedge fund bets for example? Maybe different targets will be picked, maybe not ... Christian
no one in the uk wants to see the euro fail, that is just anti british propaganda from mertels and sarkozy, what cameron asked for was a guarantee to safeguard british jobs, which those two did not want to agree to, it is the spiel fed to the press that cameron wanted to see the down fall of the euro but nothing is further from the truth, what is really sickening is the amount of anti british bile being spewed forth from the french government, probably to hide their own incompetence. that said i cannot see the euro continuing in it's present form as the rush to introduce it was almost obscene, there was never any hope of weak economies such as greece and spain being able to operate at the same level as the likes of germany and the uk, i have heard from a friend in ireland that they are considering abandoning the euro to return to a pound linked economy because of the adverse effect it has had on cross border trade with the uk.
It all depends on demand for these coins by collectors and the supply of the coins. If the euro currency is discontinued, I could see there being increased interest in collecting them for their historical value. There are probably so many of them that it would be a while before the value increased a lot. Then there's the intrinsic value of the coin based on its metal content as well. Anyway, my 0.02.
Oh well, the British-French love-hate relationship has worked fine for many years, the Germans just use the euro in order to set up some Fourth Reich, and the European Union is some evil empire. So what else is new? And I don't think that Cameron's No was merely about British jobs - it was about the regulation of financial markets. In my opinion we won't come to a European Union of "26 vs 1" due to his decision, but if the existing treaties cannot be modified, one alternative would be to set up some kind of separate legal framework for the euro countries. Whether that could work in the long run ... don't ask me. By the way, in about a week all euro area member states will issue another common €2 commem - about Ten Years of Euro Cash. Value per piece: 2 euro. And I hope it stays that way. Christian
