Last week we taught you a new trick to self initiate your own collection by buying and selling 2 euro commemorative coins, today we will talk about how some of the smallest euro coin can get their collector value increased. These two coins have a very low value almost insignificant… in fact, as we will see, some countries of the eurozone have decided minting these coin for circulation purposes, decision that have incremented its price for coin collectors. We are talking about the 1 cent and 2 cents euro coins, which have a higher cost of minting than their facial one and due to their low value have been taken out of circulation in some countries.
Initially, when the euro was introduced, the coins of one and two cents of euro were created with the idea of making sure that the transition to the euro was not used as an excuse by the retailers to round the prices up.
The coins of 1, 2 and 5 cents make approximately the 80% of all the new minted coins in the eurozone. Their minting price exceeds their facial value, therefore its mintage is not even worth it. Some of the countries have even proposed to have a common model on both sides of the coin for all the countries in order to reduce costs.
Due to the low value of these coins and the high cost for business and minting houses of maintaining them in circulation, Belgium, Finland, Ireland and the Netherlands round the prices to the nearest 5 cents. This is known as the swedish rounding, since was in this country when it was first introduced back in 1972. These countries only mint a very small amount of these coins and are meant for collectors. Even though the 1 and 2 euro cent coins are still legal in those countries most of the shops will reject to accept them.
Not all these countries stopped minting these coins at the same point, therefore is is very likely that you might find some of them circulating. Remember that these circulated coins will not have any value for collectors. For your information this is the year in which each of the countries stopped minting the cent coins.
2018 Italy (They have passed a resolution to stop minting this year)
For the coin collectors, this means that the 1 and 2 cent euro coins from these countries are only minted for collection and in very few of them are issued. This makes them only available in the market as uncirculated and with a much higher value that the rest of the cents from other countries. As they are issued in limited quantities and they are not minted for circulation they will alse increase their value more than other coins, therefore it might be a good future investment to buy a few of them. What are you waiting to get them all?
Do you have any of these cents? Leave us your comments!