DEFECTIVE goods caused by factory errors are not always a negative thing – sometimes, they can actually be worth significantly more as a result of their faults.
At least, that's the case with some €2 coins in circulation, according to Onda Cero radio in a recent report.
A Spanish €2 coin commemorating 10 years of the common currency, issued in 2009. This one is up for sale for €540 on Etsy (photo: Etsy)
Collectors will, in fact, pay literally thousands to get their hands on the faulty coins, purely because they are so unique.
Back in 2009, the European Central Bank (BCE) minted a limited-edition series of €2 coins to commemorate a milestone anniversary of the common currency, with different designs for each of the countries in the Eurozone.
These, alone, are collectibles and likely to be worth far more than their face value, given that only around three million of them in total were released.
Onda Cero says they can typically fetch up to about €30 in the collectors' market – which, whilst not enough to be able to retire on the sale proceeds, is still 15 times what the coin is worth if you spend it yourself.
Another Spanish €2 commemorative coin from 2009, on sale on Todocoleccion.com
But a batch of them came out with a design error due to a problem with the minting machine.
Covering coins for several member States, the defective coins had uneven stars on them, the Onda Cero article revealed.
A rare 2002 German €2 on sale on Etsy for €7,999.99
These stars, reflecting the yellow ones in a ring on a blue background on the EU flag, were not all uniform – some were larger than others.
This has now made them highly sought-after, with prices paid for them being in the hundreds or even thousands of euros.
Coin collectors have recently published a list on the site Coleccionistas de Monedas showing which €2 pieces are the most valuable on the specialist market.
Some of them are worth over €2,500.
Onda Cero recommends that if anyone finds a coin in their purse which seems to be a commemorative one or which otherwise looks a little different, they should consult an expert in coin collecting – ideally, more than one expert, to compare and contrast their views and estimates – to find out whether the piece has any market value and, if so, how much collectors would be willing to pay for it.
