Newsroom
The Central Bank of Cyprus’ commemorative coins celebrating 20 years since Cyprus joined the European Union have proven to be a hot commodity among collectors. Limited-edition €5 silver and €2 commemorative coins are generating a buzz, with eager buyers queuing at the bank’s counters and driving up demand on resale platforms.
Limited Editions Driving Demand
The €5 silver coin, priced at €52, features Cyprus depicted as a force of creation and development in the EU, symbolized by the European flag, along with doves representing peace. Only 2,000 pieces were minted in proof condition, designed by artist Giorgos Stamatopoulos and minted by the Bank of Greece.
The €2 coin, priced at €20, highlights Cyprus’ geopolitical importance with an image of the Earth and the European Commission building in Brussels. A total of 7,000 of these coins, encased for protection, were produced.
Resale Frenzy
While the coins are officially sold by the Central Bank at modest prices, collectors are reselling them for as much as €500 on secondary market platforms. The Central Bank has distanced itself from these resales, focusing instead on ensuring fair distribution of the coins to the public.
Priority Purchase System Hits a Snag
To manage demand, the Central Bank introduced a strict purchase system, allowing buyers to acquire a limited number of coins either at its counters or through its e-shop. However, on November 27, the launch of online sales was marred by an unexpected technical issue that temporarily shut down the e-shop, adding to the frustration of eager collectors.
Sales to professional numismatists ran from November 18 to November 24, with public sales beginning on November 27 and set to continue until December 20, depending on availability. As of December 21, unsold inventory will be offered to customers on a first-come, first-served basis.
A Celebration in Coins
The coins not only mark two decades of Cyprus’ EU membership but also highlight the island’s contributions to peace and development within the European community. With their unique designs and limited availability, these collectibles have become a must-have for enthusiasts, cementing their place as a standout tribute to this milestone anniversary.
