Monday, April 11, 2011

Limited Edition French 1000 Euro Coin Sparks Huge Demand

The demand was so high, a line-up developed to reserve one and the coin has sold well above its issue price in the secondary market:
Hundreds of people lined up Friday as the mint opened reservations. Coins must be reserved by May 7 with delivery expected in mid-June.

By Saturday morning, buyers on line were offering €1,200 for the coin....

What makes this coin unusual is its face value is well above its bullion value. The €1000 coin contains 20 g of gold, worth about 655 euros. Since the bullion value doesn't deter circulation, it might be spent in shops.

The French mint plans to issue only 10,000 of them. More's the pity.

No comments:

Post a Comment