74Lucania. Metapont.
Didrachm, 400/340 BC. Attractive piece.
Very rare, particularly in this condition.
Dionysus head of the finest style.
Ex Hirsch VIII, München 1903, no. 792.
Estimate: 20.000 EUR

223Sicily. Syracuse.
Decadrachm around 400/390 BC, unsigned.
Splendid patina, extremely fine.
Estimate: 25.000 EUR

728Cyrenaica. Kyrene.
Stater 331/322 BC.
Very rare. Very fine.
Estimate: 30.000 EUR

1024Roman Empire.
Otho, 69.
Aureus, Rome.
Rare.
Good very fine.
Estimate: 50.000 EUR

1118Pertinax, 193.
Aureus, Rome.
Very rare.
Attractive piece.
Ex Huntington (Inventar-no. ANS 1001.1.30032).
Estimate: 50.000 EUR

2834Roman Republic.
Denarius, 48 B.C., Rome.
L. Hostilius Saserna.
Very rare.
Attractive toning, extremely fine.
Ex Sternberg VI, Zürich 1976, no. 758.
Estimate: 2.000 EUR

3023Roman Empire.
Augustus, 30 BCE–14 CE.
Aureus, 19/18 BCE, Ephesus (Ionia).
Very rare.
Min. Very fine.
Estimate: 10.000 EUR

4065Sicily. Syracuse.
50 litren, 405/400 B.C.
Struck with a slightly rusty obverse die,
very fine-extremely fine/extremely fine.
Estimate: 4.000 EUR

4549Roman Empire.
Alexander of Carthage, 308–309.
Follis, Carthage.
Very rare.
Broad flan, small double strike, good very fine.
Estimate: 4.000 EUR

4553Roman Empire.
Aureus, 315/316, Siscia.
Of the highest rarity.
Probably unique.
Small scratch on the obverse; otherwise extremely fine.
Estimate: 7.500 EUR
Archive: People and Markets

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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