Posts Tagged ‘Euro’
The end of an era for Belgium’s Royal Mint
After 185 years of production, The Royal Mint of Belgium is set to close forever.
The Royal Mint of Belgium struck its first coins in 1832, just two years after the institution was founded, but the long standing mint will cease operations forever on January 1st 2018.
From the end of the 1990’s the Belgian Mint started producing euro coins ready for the switch from the Belgian Franc to the euro at the start of 2002. And the nation considers itself one of the pioneers with regards to the introduction of the euro as it was Belgian chief engraver Luc Luycks who designed the obverse side of all euro coins.
Unfortunately the Federal Government feels it has become too expensive for the Royal Mint to carry on producing coins itself and has decided that a private company should produce Belgian euro coins. And with more and more people paying electronically there is less and less need for coins.
Instead, the task of striking coins is being outsourced to a private company in an effort to save money.
The Royal Belgium Mint caused a stir back in 2015 when they issued a €2.50 coin to commemorate the 200th anniversary of Napoleon’s defeat at Waterloo after France forced it to scrap a €2 coin with the same purpose.
Paris objected to the Belgian coin, commemorating the French emperor’s defeat by British and Prussian forces, branding the commemoration of Waterloo as a “symbol that is negative” which would “undermine the unity of the Eurozone.”
Belgium was forced to get rid of about 180,000 €2 coins that had already been minted after Paris sent a letter saying they could cause an “unfavourable reaction in France”.
But Belgium managed to skirt the French protests by taking advantage of a European rule stating that Eurozone countries are permitted to approve their own coins without approval of other member states, providing the new denomination as an irregular one. In this case the irregular denomination was €2.50.
The Royal Belgium Mint strikes more than 40 million coins a year but the final batch of commemorative coins have now been minted, ready to close its doors in just over a month.
The last coins ever struck at The Royal Belgian Mint – issued to celebrate the 200th Anniversary of Ghent University.
The last coins ever struck at The Royal Belgian Mint were the special €2 coins issued to celebrate the 200th Anniversary of Ghent University.
The special coin features an engraved logo of the University of Ghent with the dates 1817-2017. The Belgian mintmark, a helmeted head of the archangel Michel, as well as the mintmaster mark, the armorial bearings of Herzele city, are located respectively on the right and on the left of issuing country indication ‘BE’ (meaning Belgium). The12 stars of the European flag are represented on the external ring of the coin.
Own the last coin struck at the Royal Mint of Belgium – limited availability
We have been able to secure a very limited number of the last ever coins struck at the Royal Mint of Belgium Mint
They are available now for just £15.95. Click here to reserve yours >>
How Gordon Brown saved the UK from a “Finnish Coin Disaster”
In 2017, The Mint of Finland proposed a set of five €5 coins paying tribute to the nation’s independence. Each coin was intended to honour 1 of 5 periods of time during the 100 years since independence in 1917, however, the designs quickly hit the headlines, and not for a good reason…
The first coin in the series represented the period 1917-1939 and featured a depiction of a Finnish Civil War execution scene with the inscription ‘Civil War’. Within just 24 hours of the design’s reveal, the Mint of Finland announced that they would be scrapping the collection due to uproar about the gruesome scene on this coin and another in the series.
Image credit: Coin World
The coins were due to be put on sale on 4th May 2017, but the Communications Director for the Mint of Finland confirmed that no coins had been struck.
Minister of Finance, Petteri Orpo said: “I did not give sufficient attention to the visual designs and relied instead on the proposals put forward by the Collector Coin Committee. I would like to express my sincere regret over what has occurred. The decree will be overturned and we will start again from the beginning.”
The Mint of Finland said that it “deeply regrets all the bad feeling caused by the images in the collector coin series.”
History repeated
The Finnish Centennial disaster wasn’t the first time that a coin design had caused a commotion…
Back in 2005, two 50p coin designs were put forward to represent 150 years of the Victoria Cross medal, which is the highest honour for gallantry which can be given to British and Commonwealth forces. However, one of the designs was quickly rejected by Gordon Brown (Chancellor of the Exchequer at the time).
The Victoria Cross Heroic Acts 50p was originally reported to feature a British soldier being shot in the back, but Mr Brown ordered it to be redesigned. A letter from Brown’s aides to The Royal Mint read “He (Mr. Brown) appreciates the designer’s attempt to portray the courage and selflessness of the British soldier carrying a wounded comrade while under fire. But he feels that the particular image of a British soldier apparently about to be shot in the back will not seem appropriate to many people.”
The final design on the 2006 Victoria Cross Heroic Acts 50p by sculptor Clive Duncan features a soldier carrying a wounded comrade, in front of the Victoria Cross medal outline. It has a circulating mintage of 10,000,500, making it one of the more common commemorative 50p designs in circulation.
Germany’s first ever 5-euro coin has been released into circulation… and it’s see-through!
Germany’s first ever 5-euro coin was released into circulation yesterday. Dubbed the ‘three material coin‘, it is also see-through!
New 'see-through’ five-Euro coin unveiled in Munich. https://t.co/4UTYBLKHcQ pic.twitter.com/X57uOFIn3t
— The Local Germany (@TheLocalGermany) April 12, 2016
Developed by Dr Peter Huber and Günther Waadt, the coin features a blue plastic ring in the middle and has been named ‘Blue Planet Earth’.
Not only is the blue ring easy to identify and authenticate by the naked eye, it is made of polymer plastic which behaves like a form of insulation between the pieces of two different metals and will be easy for cash machine to recognize whether it is real or fake.
A first in the history of coins
A German Minting Technology team has spent a decade developing this new security feature. In fact, it’s the first coin to be made from a combination of metal and plastic materials.
The plastic ring can be manufactured in any colour – perhaps we’ll see a rainbow of coloured Euro coins in the near future! It is also rumoured that the coin can change colour when exposed to UV light.
A total of 2 million coins have been released and will undoubtedly be snapped up and highly prized by coin collectors… if they haven’t already.
Yesterday it was reported that hundreds of Germans were queuing at the Bundesbank in Frankfurt for a chance to get hold of this new cutting-edge coin.
It’s unlikely that these 5-euro coins will be used in everyday transactions but if you are lucky enough to be heading to Germany any time soon, make sure you keep a look out.