Federal Republic of Germany, 5 Deutsche Mark 1951

One could cut a fine deal with the first 5-mark coins of the Federal Republic of Germany even in the 1970s: from their introduction in 1951, these coins contained two-thirds of silver. However, when the price of silver began to climb over five dollars per Troy Ounce around the mid-1970s, nobody wanted to spend his 5-mark pieces any more they were now worth keeping as their intrinsic value had become higher than their face value. The German federal government therefore issued new 5-mark pieces. Nevertheless at the end of 1975, half the old silver coins were still in private hands, even though they were no longer legal tender.

Year of issue

1951 n. Chr.

Country