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Germany stops commemorative coins because of surging silver price

Section: Daily Dispatches

By Olaf Storbeck
Financial Times, London
Wednesday, October 22, 2025

The German finance ministry has stopped the planned sale of two commemorative coins after the cost of their silver content surpassed their face value.

The unusual step, which affects the issuance over the next three months of a E20 and a E25 coin popular with collectors, highlights the extent of the current rally in precious metals. 

... Dispatch continues below ...


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While the surge in the silver price is less pronounced than that of the gold price, the precious metal reached a new all-time high this month at $54.30 per troy ounce and is 60% more expensive than at the start of the year. 

The first casualty is a coin depicting the biblical "Three Wise Men" as part of a Christmas-themed series of E25 coins that started in 2021. They are made from 22 grams of pure silver, which has a current market value of about E29. Previous editions have been sold for as much as E45.95. ...

... For the remainder of the report:

https://www.ft.com/content/04000284-6713-4de6-ae9f-18316c7b8343

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