Estimated price: CHF 3500SICILY. Leontini. Circa 450-440 BC. Tetradrachm (Silver, 26 mm,
17.31 g, 7 h).
Leu Numismatik AG, Zurich - Auctions 17, 18 /
31 May -2 June, 2025
44
Estimated price: CHF 10000PTOLEMAIC KINGS OF EGYPT. Arsinoe II, wife of Ptolemy II,
died 270 BC. Mnaieion or Oktadrachm (Gold, 29 mm, 28.00 g,
12 h), Alexandria, struck under Ptolemy V and/or Ptolemy VI,
circa 193/2-178/7 BC.
Leu Numismatik AG, Zurich - Auctions 17, 18 /
31 May -2 June, 2025
266
Estimated price: CHF 25000KINGS OF MACEDON. Philip V, 221-179 BC. Tetradrachm
(Silver, 30 mm, 16.80 g, 11 h), Pella or Amphipolis,
circa 220-211 BC.
Leu Numismatik AG, Zurich - Auctions 17, 18 /
31 May -2 June, 2025
284
Estimated price: CHF 75000Quintus Labienus Parthicus, 42-39 BC. Denarius (Silver, 17 mm,
3.85 g, 5 h), uncertain mint moving with Labienus in
southeastern Asia Minor, early 40 BC.
Leu Numismatik AG, Zurich - Auctions 17, 18 /
31 May -2 June, 2025
389
Estimated price: CHF 25000Hadrian, 117-138. Sestertius (Orichalcum, 33 mm, 26.00 g, 6 h),
Rome, circa 130-133.
Leu Numismatik AG, Zurich - Auctions 17, 18 /
31 May -2 June, 2025
439
Estimated price: CHF 3500LOW COUNTRIES. Vlaanderen (Flanders). Lodewijk II van Male,
1346-1384. Gouden Lam – Mouton d'or (Gold, 30 mm, 4.41 g,
10 h), variety with 'I' after 'NOB'. Gand (Ghent)
or Mechelen (Mechlin).
Leu Numismatik AG, Zurich - Auctions 17, 18 /
31 May -2 June, 2025
1175
Estimated price: CHF 25000SWITZERLAND. Neuenburg/Neuchâtel. Henri II d’Orléans-
Longueville, 1595-1663. Medal of 20 Ducats (Gold, 52 mm,
68.77 g, 12 h), on his marriage with Anne-Geneviève de
Bourbon-Condé. By J. Warin. No date (1642).
Leu Numismatik AG, Zurich - Auctions 17, 18 /
31 May -2 June, 2025
1257
Estimated price: CHF 7500GERMANY. Sachsen-Ernestinische Linie. Sachsen-Gotha
(Alt-Gotha). Johann Friedrich II, 1557-1565. Doppelter
Schautaler (Silver, 49 mm, 57.90 g, 12 h), no date (circa 1560). 
Leu Numismatik AG, Zurich - Auctions 17, 18 /
31 May -2 June, 2025
1121
Estimated price: CHF 5000GERMANY. Kaiserreich. Sachsen-Meiningen. Georg II,
1866-1914. 20 Mark 1905 D (Gold, 21 mm, 8.00 g, 12 h),
München (Munich).
Leu Numismatik AG, Zurich - Auctions 17, 18 /
31 May -2 June, 2025
1130
Estimated price: CHF 15000UNITED STATES. 1776-pres. Dollar 1799 (Silver, 39 mm,
27.00 g, 6 h), Draped Bust type, heraldic eagle variety with 7/6
stars (obverse), 13 stars (reverse), berries, and regular date.
By R. Scot, Philadelphia.
Leu Numismatik AG, Zurich - Auctions 17, 18 /
31 May -2 June, 2025
1286
all News

Ruthenium on Euro Commemorative Coins: Mints Turn to Innovative Finishes – with the Blessing of Central Banks

By Sebastian Wieschowski

Have you ever heard of ruthenium? For most coin collectors and precious metal investors, this platinum-group metal has likely gone unnoticed – and for good reason. Ruthenium is one of the rarest non-radioactive elements on Earth, found only in minute quantities in the Earth’s crust. Its primary use is as an alloying element with other platinum-group metals. As a result, coins made of pure ruthenium simply do not exist.

Three precious metals on a single coin – Malta honours its first collector coin with contemporary finishing techniques. Photo: Central Bank of Malta.

Three precious metals on a single coin – Malta honours its first collector coin with contemporary finishing techniques. Photo: Central Bank of Malta.

Instead, ruthenium has occasionally been used to enhance modern silver coins, particularly in the context of teleshopping and mail-order sales. These were always private, aftermarket colour applications. However, for the first time, a eurozone country has issued a commemorative coin featuring rare ruthenium galvanisation: Malta has released a €5 flower-shaped coin adorned with ruthenium, yellow gold, and palladium.

In sequential steps, the individual parts of the coin are galvanised. Photo: Central Bank of Malta

In sequential steps, the individual parts of the coin are galvanised. Photo: Central Bank of Malta

This exotic masterpiece carries a deeper meaning: Malta’s coin commemorates its first collector coin from 1977, which depicted the Maltese bee. The design highlights the country’s historical connection to beekeeping and its commitment to preserving natural heritage.

Gilded and antique finish – with the approval of the Croatian Central Bank. Photo: Croatian Mint.

Gilded and antique finish – with the approval of the Croatian Central Bank. Photo: Croatian Mint.

Malta’s new commemorative coin reflects a broader trend in modern numismatics: an increasing number of eurozone countries are adopting innovative finishing techniques, which have traditionally been the hallmark of private mints and distributors. Croatia recently issued its Dragon of Trsat coin with an antique finish and partial gilding – two effects previously more commonly seen on TV or in the glossy catalogues of mail-order companies.

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