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Couple of cancelled Egyptian coins


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Cancelled coins - that's a concept I'm not familiar with. Very neat item to have in your collection.

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Bought a couple of interesting cancelled Egyptian coins

 

They are both magnetic. I don't know why they are cancelled - they are the most recent series and should be legal tender.

 

Perhaps someone just threw through the cancelling machine to create "rare" items?

 

Cancelled coins - that's a concept I'm not familiar with. Very neat item to have in your collection.

 

Not too uncommon, when certain coins are demonetized.

 

Here in NL, after the euro was introduced, we cound / had to hand in our gulden coins, and we would get the corresponding amount of euro's back. Those handed in coins were all cancelled by putting them through a machine that "wafelled" them:

 

912400.jpg

 

912399.jpg

 

That way, the cancelled coins could be sold as scrap metal, without the risk that they would be handed in again.

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Perhaps someone just threw through the cancelling machine to create "rare" items?

 

 

Not too uncommon, when certain coins are demonetized.

 

Here in NL, after the euro was introduced, we cound / had to hand in our gulden coins, and we would get the corresponding amount of euro's back. Those handed in coins were all cancelled by putting them through a machine that "wafelled" them:

 

912400.jpg

 

912399.jpg

 

That way, the cancelled coins could be sold as scrap metal, without the risk that they would be handed in again.

 

 

Makes sense.

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  • 4 weeks later...

It would hurt my feelings to do that to a coin

Well, if it was an old coin, or rare coin, I'd agree with that.

 

But, in 2002, half of Europe switched to the Euro and the old currencies were demonetized.

 

Billions and billions of new coins were introduced all over Europe. And the many billions of old coins of the demonetized currencies sudenly were no longer more than metal disks. They "all" needed to be handed in, in exchange for euro coinage (or notes). These many many tonnes of metal presented quite some scrap metal value (Dutch coins were mostly pure nickel) and to avoind that scrap metal dealers who bought the metal would hand these coins in again they were "wafeled".

 

Besides, these were almost all well circulated coins.

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There are people who collect the "waffled" coins. It's quite interesting to put together a year set and difficult from what I understand.

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I got mine at an "open day" of the Royal Dutch mint, a few years back. visitors could pick a few from a box full of them.

 

That's neat. Have any pics of them?

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Perhaps someone just threw through the cancelling machine to create "rare" items?

 

 

Not too uncommon, when certain coins are demonetized.

 

Here in NL, after the euro was introduced, we cound / had to hand in our gulden coins, and we would get the corresponding amount of euro's back. Those handed in coins were all cancelled by putting them through a machine that "wafelled" them:

 

912400.jpg

 

912399.jpg

 

That way, the cancelled coins could be sold as scrap metal, without the risk that they would be handed in again.

 

Yeah, scroll back to post #3 in this thread......

 

Gotcha!! :bthumbsup:

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