Golden Times Thanks to Silver Coins – The German Mark Lives On Thanks to Precious Metals
by Sebastian Wieschowski
The 1972 Olympic Games in Munich were a great opportunity for the Federal Republic of Germany to present itself as a peaceful and cosmopolitan nation. However, this promotion came at a price, and a significant part of the financing of the Games was secured through a special program for issuing Olympic coins. This program was decided by the German Bundestag on February 5, 1969, and involved the minting of five silver coins, each with a face value of 10 German Marks – this denomination was used for silver coins for the first time.
These coins were very popular among collectors and made a decisive contribution to the financing of the Games. The profit generated by the coins amounted to over 731 million DM, of which 8 million DM went directly to the Olympic Games Organizing Committee and the remaining 640 million DM were used to finance the competition venues.
This creative financing strategy not only provided the necessary funds for the Olympic Games but also created a lasting legacy in the form of collector's coins, preserving the memory of the Games and their spirit for future generations. Indeed, the 10-mark commemorative coins had a future: while the production of 5-mark commemorative coins was switched from silver to a non-precious alloy in 1979, the 10-mark coins continued to be made of silver – and the collection was completed in the fall of 2001 with a coin for the Federal Constitutional Court.
The coins were minted up to 1997 from an alloy with a silver content of 62.5% (625/1000), and the coins minted from 1998 consist of 92.5% silver (925/1000), also known as sterling silver. This increase in quality not only reflects a step towards higher quality but also aligns German commemorative coins with internationally recognized standards for collector coins.
The 10-DM silver coins are available in different minting qualities, such as uncirculated and proof, and were produced at the five German mints with the mint marks A (Berlin), D (Munich), F (Stuttgart), G (Karlsruhe), and J (Hamburg). This variety in manufacturing and material quality makes the 10-DM silver coins an exciting collectible and offers an enticing investment opportunity in precious metals that possess both historical and cultural value.
The 10 DM coins from Germany are considered so-called "junk silver". This term refers to coins that have a significant silver content but, due to their condition or because they are available in large numbers, do not have a special collector value beyond the material value of the contained silver. Originally, the term was mainly used in relation to older American coins minted before 1965, which have a silver content of 90%. These include the Silver Dollar, Half Dollar, Quarter Dollar, and Dime coins. These coins were minted for everyday use and are popular among investors and collectors who want to invest in silver due to their high silver content and large available quantity.
However, the term "junk silver" has expanded over time and now includes coins from other countries with similar characteristics. Among these are the German 10-DM commemorative coins, minted between 1952 and 2001. As mentioned, these coins were made from a silver alloy of 625/1000 until 1997 and the coins minted from 1998 even from 925/1000 silver. Due to their silver content, they fall under the category of "junk silver", although they can be of numismatic interest due to their historical and cultural motifs.
The key to understanding "junk silver" lies in focusing on the raw metal value of the silver, not on the collector value. For investors and savers, these coins offer an accessible way to invest in physical silver without paying the premiums often associated with pure bullion coins or coins with high collector value. "Junk silver" thus offers a dual attractiveness: as a physical investment in precious metals and as a historical testament that provides insight into the coinage and culture of a country.
Sebastian Wieschowski has been collecting coins since childhood and, after working as a journalist with a focus on finance and economy, has switched his focus on coins and precious since 2012. He is the author of several self-published books on Bullion Coins, Panda Coins, Fake Coins and Coin Grading and works for numismatic magazines. He is also a recurring expert on the German television program Münzengalerie (Coin Gallery), the longest running numismatic television show in the world. You can find out more about his work at coinosseur.com
