It was released for a special occasion. A 2-euro coin issued in 2022 to celebrate the 35th anniversary of the Erasmus Programme has become the subject of an unexpected numismatic stir. The coin, which has an alleged manufacturing error, has been put up for sale for €19,000.
Although the figure seems exorbitant for a relatively recent coin, the interest in special editions and their defects once again demonstrates the extent to which the market for collectibles can skyrocket.
The European Union issues commemorative coins every year to celebrate historical, cultural or institutional milestones. Each country can release two special editions per year, and sometimes Member States collaborate on a common design.
Only five coins have been produced jointly in the history of the euro: in 2007 (Treaty of Rome), 2009 (10th anniversary of Economic and Monetary Union), 2012 (10th anniversary of the physical euro), 2015 (adoption of the European flag) and 2022, marking the 35th anniversary of the iconic Erasmus programme.
The chosen coin
The 2022 coin was selected through an online public vote from six designs evaluated by a professional jury. The winning design shows the humanist Erasmus accompanied by interconnected lines symbolising his intellectual influence throughout Europe, along with the inscriptions ‘35’, ‘1987-2022’ and ‘ERASMUS PROGRAMME’.
The reverse is common to all 2 euro coins: the map of the continent, the face value and the word ‘EURO’. Like other bimetallic coins of this value, it weighs 8.5 grams and measures 25.75 mm in diameter. Spain issued one million coins for circulation, 12,000 in BU quality and 5,000 in proof quality for collectors.
An error worth almost €20,000
While coins in perfect condition usually sell for around €30 in specialist shops, the online price varies depending on their condition and rarity. But what has attracted the most attention is one coin in particular offered for €19,000 on the eBay trading platform.
According to an international media outlet, the seller claims that it has a manufacturing error, although the exact nature of the defect has not been publicly disclosed. In the numismatic market, errors can multiply the value of a coin, but there is no fixed rule as rarity, demand and, in many cases, speculation come into play.
This phenomenon is not new; some common coins with some kind of flaw appear on trading platforms with prices completely out of line with the market, even reaching thousands of euros. In the case of the Erasmus commemorative coin, it is not yet known whether anyone will pay the €19,000 asking price. For now, what it has achieved is to put 2-euro coins back in the spotlight of public interest.