Condition rarity modern coin from Germany in auction
- Published: Jun 12, 2016, 6 AM
There’s nothing particularly compelling about the design of a 1960-J silver 5-mark coin, from West Germany’s Hamburg Mint, that highlights Spink’s June 22 auction in New York City.
The Republic eagle on the obverse is a familiar sight on that denomination, which was issued from 1951 until 1974. However, the coin is symbolic of the German Economic Miracle that followed the uber-destruction of World War II.
More than 250 million examples of this coin were struck at the four German mints from 1951 to 1974, but only 1 million were from the Hamburg Mint in 1960. Most of the 1960-J examples graded by third-party grading services grade Mint State 62 or MS-63, according to the firm, but this example is graded MS-69 by Professional Coin Grading Service, apparently the finest known example (most examples of the same coin struck at other German mints in 1960 submitted to PCGS are graded MS-66, with one MS-67).
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The only blemish to the coin in the auction is a spot visible only with a loupe, according to the firm.
This coin was handmade for a special visitor (perhaps for the mayor) and was produced with fresh dies for both obverse and reverse, the auction house said, and was preserved immediately after striking.
That special post-striking care explains the estimate for the coin ranging from $15,000 to $18,000.
The auction is one of that the firm is conducting on June 22 and 23. For more information about the sales, visit the firm’s website.
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