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V4 2001 INDEX       E-SYLUM ARCHIVE

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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