There’s no shortage of interesting, old and rare European coins capable of commanding big money at auction — but are any actually still in circulation and not being handled by private collectors with white gloves?
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“There aren’t a ton of options for valuable, circulating European coinage,” said Ben Wengel, an expert in authentication and the minting process who has handled, authenticated, and graded over a million coins, including many rarities that have brought six and seven figures at auction. “However, there are a few that can certainly be found in circulation. They are all error coins known as ‘mules’ in numismatics. It occurs when the dies used to strike coinage are not properly paired, resulting in an incorrect obverse/reverse combination for all coins struck from that specific pair of dies.”
Meet the Expert
Ben Wengel is a coin expert at Numismatic Guaranty Company (NGC), an independent entity based in Florida. While it’s not a division of the Professional Numismatists Guild (PNG), the PNG has designated NGC as its official authentication and certification service for rare coins.
He has served as an NGC grader for more than 12 years and has been the Senior Grading Finalizer of World Coins since 2020. Wengel is also the author of several articles on the attribution and authentication of coins, one of which won a Numismatic Literary Guild (NLG) award.
He has served as a senior grader at international grading events in Germany, China, and Hong Kong and as an instructor at the American Numismatic Association Summer Seminar on Advanced Study of World Coinage in 2023.
Here are his recommendations for anyone looking for rare and valuable coins that a cashier might hand back to them as change during their next European vacation.
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2008 Portugal 1 Euro First Map Mule
The reverse of this error coin features an “‘old style’ map of Europe used on Euro coinage from 2002-2007,” said Wengel.
The outdated reverse makes this coin special — but not so special that it’s impossible to find.
According to Numista, “The Portuguese Mint struck 107,000 One Euro coins in 2008 with the incorrect reverse. The Old Map was used instead of the New Map. Some of them were recovered and it is believed that around 98,000 are still in circulation.”
20 Euro Cent Struck with Two Reverse Dies
Issued between 1999 and 2007, this Eurozone coin has two reverses and no obverse, meaning that both sides are the same
“This is a very visually striking mule error, and as such, it would be significantly more difficult to pull this coin out of circulation,” said Wengel. “An example sold at auction in 2013 for just under $1,300.”
But don’t be fooled by an imitation.
“It is common to encounter coins that have been manipulated after production by joining two halves of two coins together to create altered, mutilated coins being passed off as mules or as novelty or magician props,” said Wengel. “The presence of a seam or an incorrect weight are usually tell-tale signs that the coin is not a genuine mule.”
1 Euro Cent Struck with Two Reverse Dies
The 20 Euro cent isn’t the only coin with two reverse sides and no obverse — the same mint error was made on a 1 Euro cent.
“It’s a very similar mule to the above example, just a different denomination,” said Wengel. “The same issues apply regarding altered pieces and the ability to find this coin in circulation.”
Wengel noted that one example sold for $384 in 2019.
2008 Great Britain 20 Pence Mule
A 2008 coin from the U.K. paired a mismatched obverse and reverse.
“This coin has the wrong obverse — the Queen side, which should be dated,” said Wengel. “Instead, it was paired with an undated obverse meant to be used with a special commemorative coin for the Tudor Rose.”
According to the Royal Mint, the error affected fewer than 250,000 of the 136 million 20-pence pieces minted in 2008-09.
“This could certainly be found in circulation, and nicer examples are worth about $100,” said Wengel.
2009 Great Britain 10 Pence Mule
With only two or three known examples in circulation, you’re less likely to find an error version of a 10-pence coin with an outdated reverse — but they’re out there somewhere.
“This is a very rare coin, as it has the wrong, older reverse design that was meant to be discontinued in 2008 comprising a single, centrally located crowned lion with the denomination below,” said Wengel. “It was instead accidentally used in 2009 with the correct new 2009 obverse. Examples have sold for $1,000-1,500.”
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This article originally appeared on GOBankingRates.com: 5 Most Valuable European Coins Still in Circulation
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