One of the 2-euro coins we have in our possession may be worth more than we can imagine. However, for this to be the case, it must first have originated in Cyprus. And to be more specific, it must feature a globe. There are no fewer than 7,000 copies of this coin, which since last November have made the small European country proud to have a commemorative coin to celebrate its 20 years in the European Union.
Although it officially costs 20 euros, in certain collectors’ forums it is already fetching around 1,000 euros. Once again, coin collecting fever proves that, sometimes, money is worth more for what it represents than for what it can buy.
The secret of this coin: scarcity
Many will wonder how a two-euro coin from Cyprus can be in such high demand in this peculiar market. The answer is clear: the secret lies in its scarcity. The Central Bank of Cyprus only ordered 7,000 units, a tiny amount compared to the usual minting of millions of coins.
The less supply there is, the more interest and rush there is to get hold of a coin. And this translates into crazy prices. An example of this is when the Principality of Monaco released 15,000 special coins, which was considered too low and was double the number of the Cypriot coin.
In addition, the coin serves as a tangible reminder of two decades (2004-2024) of membership in the European Union. This sentimental detail, coupled with limited circulation, is the perfect cocktail for the initial £20 to become a small four-figure fortune.
A design that makes it highly coveted
Although the common side remains the same as any other 2 euro coin, the magic appears when you turn it over:
- We find the silhouette of Cyprus next to the European Parliament in Strasbourg, reflecting its voice in the European Union.
- A globe symbolising its geopolitical and humanitarian logistical role in the Mediterranean.
- The inscription in Greek surrounding the scene.
As a curiosity, it is worth noting that although the signature corresponds to the Central Bank of Cyprus, the coin was minted by the Central Bank of Greece due to the lack of infrastructure in Cyprus.
How to get the coin without breaking the bank
If you want to get your hands on this Cypriot 2 euro coin, before going out and buying it at any price, we recommend following these steps:
- Check the official price. The issue price is £20, so if you are asked to pay more, it is not due to ignorance.
- Confirm the details on the reverse: the silhouette of Cyprus, the local parliament, the globe and the Greek inscription. Any omission is a red flag.
- Ask about the origin: the 7,000 coins were issued by the Bank of Greece, so you should ask for the serial number or proof of purchase if you are paying a premium.
- Compare offers: resale moves quickly, so it is worth checking out different platforms. This could save you tens of euros.
Following these four tips can make the difference between a brilliant investment and a significant financial setback. The modest Cypriot coin is yet another case that has piqued the interest of numismatics enthusiasts, some of whom are willing to make a financial effort to get their hands on this souvenir, who knows, perhaps to make a bigger profit in the future.
