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Commemorative Coins

Commemorative coins are coins that were issued to commemorate some particular event or issue. Most world commemorative coins were issued from the 1960s onward, although there are numerous examples of commemorative coins of earlier date. more...

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Such coins have a distinct design with reference to the occasion on which they were issued. Many coins of this category serve as collectors items only, although some countries are also issuing commemorative coins for regular circulation. Vast numbers of thematic coins are continuously being issued, highlighting ancient monuments or sites, historical personalities, endangered species etc. While such thematic coins may or may not commemorate any particular event or jubilee, the distinction between commemorative coins and thematic coins is often blurred or ignored.

Subcategories

Coins can be seen as being of one of three types:

Regular issue coinage are the normal coins intended to be used in commerce every day and are typically issued with the same design for several years, e.g. euro coins.

Circulating commemoratives are intended to be used for commerce, but the design will only be issued for a limited time, is intended to draw some attention to a specific event or person. Examples include the €2 commemorative coins, or U.S. 50 State Quarters.

Non circulating legal tender (NCLT) are coins which are legal tender, and thus can in theory be used to purchase goods or services, but are not intended to be used in such a manner just like £5 coins which are worth about £7. Rather they are intended to be used only as souvenirs, and are often produced in gold or silver with a proof finish.

History

Historically, the coins issued by any state, have always reflected the current political or economic situation. Many ancient and pre-modern coins certainly commemorate events in contemporary times. For instance, Roman coins often have references to military campaigns and the defeat of foreign powers. These reverse types often symbolically represent the subordination of recently conquered territories to Roman authority. Such coins are examples of ancient political propaganda. The Roman Empire may be represented by a proud warrior 'raising' an undersized figure, representing the defeated enemy.

Throughout history, coins have commonly been issued on special occasions, without necessarily citing that occasion explicitly. In some cases, emergency money have been issued under unfavourable conditions, such as a city under siege. Such emergency coins were issued in Vienna in 1529, while the city was besieged by the troops of the Ottoman Empire. Due to the conditions at the time, such coins are frequently minted on square flans, rather than round ones (it was easier and quicker to produce a square flan than a round one). European square coins of this era are known by their German name 'klippe'. Coins might also be issued with the specific purpose of financing a military campaign, or for the payment of tribute or war indemnity by a feudal lord to his sovereign.