Euro gold and silver commemorative coins (Cyprus)

Republic of Cyprus Κυπριακή Δημοκρατία (Greek) Kypriakī́ Dīmokratía Kıbrıs Cumhuriyeti (Turkish)
ISO 3166 code		CY

Euro gold and silver commemorative coins are special euro coins minted and issued by member states of the Eurozone, mainly in gold and silver, although other precious metals are also used in rare occasions. Cyprus introduced the euro (€) on 1 January 2008. In 2000, in such a short time, the Central Bank of Cyprus has produced the first commemorative euro coin in silver. In 2010 the Central Bank of Cyprus has produced 2 more commemorative euro coin in gold and silver.

These special coins has a legal tender only in Cyprus, unlike the normal issues of the Cypriot euro coins, which have a legal tender in every country of the Eurozone. This means that the commemorative coins made of gold and silver cannot be used as money in other countries. Furthermore, as their bullion value^[1] generally vastly exceeds their face value, these coins are not intended to be used as means of payment at all—although it remains possible. For this reason, they are usually named Collectors' coins.

The coins usually commemorate the anniversaries of historical events or draw attention to current events of special importance.

Summary

As of 03 November 2010, two variations of Cypriot euro commemorative coin has been minted. This special high-value commemorative coin is not to be confused with €2 commemorative coins, which are coins designated for circulation and do have legal tender status in all countries of the Eurozone.^[2]

The following table shows the number of coins minted per year. In the first section, the coins are grouped by the metal used, while in the second section they are grouped by their face value.

Year	Issues		By metal				By face value
			gold	silver	Others		€5	€20
2008	1		–	1	–		1	–
2010	1		1	1	–		1	1
Total	2		1	2	–		2	1
Coins were minted   No coins were minted

2008 Coinage

	Accession of Cyprus to the Eurozone[3]
	Designer: Nicolas Loucas		Mint: Mint of Finland
	Value: €5	Alloy: Ag 925 (silver)	Quantity: 15,000	Quality: Proof
	Issued: 2008	Diameter: 38.61 mm (1.52 in)[4]	Weight: 28.28 g (1.00 oz; 0.91 ozt)[4]	Issue price: €38 Market value: €43-€49[5][6][7][8]
The obverse depicts the Coat of arms of Cyprus. The Greek text "Η ένταξη της Κύπρου στην ΟΝΕ 2008" (Integration of Cyprus into EMU 2008) can be easily seen. The reverse depicts Cyprus connected with a ring to Europe, οn a transfigured map.

2010 Coinage

Gold

	The 50th anniversary of the Republic of Cyprus [9]
	Designer: Clara Zacharaki-Georgiou		Mint: Bank of Greece / Mint
	Value: €20	Alloy: Gold 971	Quantity: 750	Quality: Proof
	Issued: 2010	Diameter: 22.05 mm (0.87 in)[10]	Weight: 7.98 g (0.28 oz; 0.26 ozt)[10]	Issue price: €500 Market value:
The obverse depicts the original emblem of the Republic of Cyprus, which coincides with the emblem of the Central Bank of Cyprus, the words «ΚΥΠΡΙΑΚΗ ΔΗΜΟΚΡΑΤΙΑ» and «KIBRIS CUMHURİYETİ» and the dates «1960-2010». The reverse depicts a stylised tree with its complex branches embracing a pigeon. The coin’s nominal value of €20 is also depicted.

Silver

	The 50th anniversary of the Republic of Cyprus [11]
	Designer: Clara Zacharaki-Georgiou		Mint: Bank of Greece / Mint
	Value: €5	Alloy: Ag 925 (silver)	Quantity: 5,000	Quality: Proof
	Issued: 2010	Diameter: 38.61 mm (1.52 in)[12]	Weight: 28.28 g (1.00 oz; 0.91 ozt)[12]	Issue price: €40 Market value:
The obverse depicts the original emblem of the Republic of Cyprus, which coincides with the emblem of the Central Bank of Cyprus, the words «ΚΥΠΡΙΑΚΗ ΔΗΜΟΚΡΑΤΙΑ» and «KIBRIS CUMHURİYETİ» and the dates «1960-2010». The reverse depicts a stylised tree with its complex branches embracing a pigeon. The coin’s nominal value of €5 is also depicted.

Notes

1. ^ Precious metals in bulk form are known as bullion, and are traded on commodity markets. Bullion metals may be cast into ingots, or minted into coins. The defining attribute of bullion is that it is valued by its mass and purity rather than by a face value as money.
2. ^ "Different types of euro coins". European Commission. http://ec.europa.eu/economy_finance/the_euro/notes_coins8787_en.htm. Retrieved 2008-06-24. 
3. ^ "Accession of Cyprus to the euro area coin". Cyprus Mint. http://www.centralbank.gov.cy/media/pdf/NPANE_GOINS171008.pdf. Retrieved 2008-10-18. 
4. ^ ^{a b} "2008 Silver Collector Coin - Accession of Cyprus to the euro area - Technical Specifications". Central Bank of Cyprus. http://www.centralbank.gov.cy/media/pdf/5EUROSILVERPROOFCOINTECHNICALSPECIFICATIONSEN.pdf. Retrieved 2009-01-29. 
5. ^ "Cypriot Euro Coins". The euro coins store. http://www.electacollections.com/viewshopcategory.aspx?id=22659&langid=2&CategoryDesc=Cypriot+Euro+coins+-+Euro+coins+of+Cyprus. Retrieved 29 January 2009. 
6. ^ "Silver Commemorative Coins - Cyprus". Muntplaats Online Store. http://www.muntplaats.nl/index.php?task=cat&c_id=953&prev_id=1&set=lang&val=uk. Retrieved 29 January 2009. 
7. ^ "Cypriot Silver Coins". Royal Scandinavian Mint. http://rsmint.com/silvercoins_11.aspx. Retrieved 12 February 2009. 
8. ^ "Cyprus 2008 5€ EU Accession Silver Proof". Euro Collections International. http://www.eurocollections.com/catalog/?product=3024?tid=catimg. Retrieved 12 February 2009. ^{[dead link]}
9. ^ "The 50th anniversary of the Republic of Cyprus". Cyprus Mint. http://www.centralbank.gov.cy/media/pdf/COINS_ANNOUEN_50YRS.pdf. Retrieved 2010-11-03. 
10. ^ ^{a b} "Issue of gold collector coin of nominal value €20 - The 50th anniversary of the Republic of Cyprus - Technical Specifications". Central Bank of Cyprus. http://www.centralbank.gov.cy/media/pdf/COINS_TECHNEN_GOLD.pdf. Retrieved 2010-11-03. 
11. ^ "Issue of silver collector coin of nominal value €5 - The 50th anniversary of the Republic of Cyprus". Cyprus Mint. http://www.centralbank.gov.cy/media/pdf/COINS_ANNOUEN_50YRS.pdf. Retrieved 2010-11-03. 
12. ^ ^{a b} "2010 Silver Collector Coin - The 50th anniversary of the Republic of Cyprus - Technical Specifications". Central Bank of Cyprus. http://www.centralbank.gov.cy/media/pdf/COINS_TECHNEN_silver.pdf. Retrieved 2010-11-03.