By: Henry M. Smith
Obsolete coins are coins no longer in general usage, and not currently available as collector coins from a mint. For circulation coins, they were replaced by new issues, and subsequently they have become so scarce that they cannot normally be found. When a coin no longer appears regularly, its value can increase, and often does.
In modern times two major events caused a multitude of coins to become obsolete. These were not two individual events, rather they were two sets of like events.
One set of events occurred as a reduction of the influence of Great Britton on nations that were part of the might British Empire. Many countries that were part of the British Empire used such coins as the pound and the shilling. Many of these countries now have the freedom to issue their coins in the denominations they wish. Until recently, Australia, New Zealand, and many small island nations followed the British coinage, issuing denominations of coins normally found in Great Britton. Now the decimal coin is favored, and has replaced the British denominations in many countries, including both Australia and New Zealand. Currently, coins in these countries include dollar coins and coins with denominations of decimal parts of a dollar.
An even greater impact on coinage occurred with the establishment of the European Union. One major purpose of the European Union was to allow trade to exist between European countries without the need for monetary conversions. One of the first things the European Union accomplished was the establishment of the Euro, the basis of its common monetary system. The European Union also allows decimal parts of the Euro to be minted in coins. While different countries do produce Euros, to the delight of collectors, with different images, the denominations used are unified, and based on the Euro. This move rendered obsolete a multitude of coin types that were used in Europe. This change occurred over time as various nations joined the European Union. The list of coins rendered obsolete by the Euro is too extensive to include here, but many names used prior to the various countries joining the European Union are now part of history. Among them are the German mark, the French franc, and the Italian lire, to give a few examples.
Does this imply coins from before these sets of events are becoming rare, and therefore valuable? This will be determined at some future time, but the possibility is real and worthy of consideration.
This article is being made available from Black Spaniel Gallery at http://blackspanielgallery.comby the author. Links to major English speaking mints are available at Black Spaniel Gallery.
One major difference should be noted. All Euros are worth one Euro in any country, but dollars of different nations are not equally valued.
