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1969 East German 5 Mark 20 Years of GDR
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<p>[QUOTE="cladking, post: 2953013, member: 68"]Many moderns have been recalled over the years and it's difficult to know exact numbers melted and surviving. East German coins were turned in ion much larger numbers than most and this especially applied to high denomination base metal coins. The 5 M was especially redeemed because it had been nearly worthless under the "communists" and was suddenly worth in excess of $3. A very high percentage would have been turned in and this probably even affects some collector specimens since there was no market. Imagine sitting on a roll of worthless BU 5M and suddenly being able to get $3 each!!! The total amount of East German currency was sufficiently small that they could afford to accept it at face value, so they did. </p><p><br /></p><p>Until people collect this sort of stuff there's simply no way to know how difficult it is to find. Krause lists it at $5.50 in MS-65 and the scarcer version at $45, but who knows the relative scarcity? Some of the East German moderns are very tough and some are not. The US had very poor relations with the E Germany in 1969 so most specimens are probably in Russia and Soviet block countries nearby. Cuba was close but there wasn't much travel. </p><p><br /></p><p>I'd guess the common version isn't extremely tough in lower grades or they would have a higher price. They don't all get redeemed and it's possible for redeemed coins to be diverted in some cases. Krause prices (especially for moderns) are not relevant oftimes even in more heavily collected series. I'd be interested in any specific knowledge bout these coins.[/QUOTE]</p><p><br /></p>
[QUOTE="cladking, post: 2953013, member: 68"]Many moderns have been recalled over the years and it's difficult to know exact numbers melted and surviving. East German coins were turned in ion much larger numbers than most and this especially applied to high denomination base metal coins. The 5 M was especially redeemed because it had been nearly worthless under the "communists" and was suddenly worth in excess of $3. A very high percentage would have been turned in and this probably even affects some collector specimens since there was no market. Imagine sitting on a roll of worthless BU 5M and suddenly being able to get $3 each!!! The total amount of East German currency was sufficiently small that they could afford to accept it at face value, so they did. Until people collect this sort of stuff there's simply no way to know how difficult it is to find. Krause lists it at $5.50 in MS-65 and the scarcer version at $45, but who knows the relative scarcity? Some of the East German moderns are very tough and some are not. The US had very poor relations with the E Germany in 1969 so most specimens are probably in Russia and Soviet block countries nearby. Cuba was close but there wasn't much travel. I'd guess the common version isn't extremely tough in lower grades or they would have a higher price. They don't all get redeemed and it's possible for redeemed coins to be diverted in some cases. Krause prices (especially for moderns) are not relevant oftimes even in more heavily collected series. I'd be interested in any specific knowledge bout these coins.[/QUOTE]
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1969 East German 5 Mark 20 Years of GDR
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