“Golden” drachmas – 162,000 euros for 50 drachmas and 32,000 euros for 100 drachmas

On November 17, a historic auction by Greek standards took place in Switzerland, at which, among other things, rare Greek coins were sold. The coin that “stole the show” was the 1876 50 drachmae.

Greek coin in 50 drachmas sold at auction for 162,000 euros. This coin, certified MS65+ (meaning good condition), was issued by the Greek government in 1876 and was issued by the Paris Mint Only 182 pieces minted.

Another coin up for auction – 5 drachmas (1833) for 8500 euroswhich is the first silver coinminted at the Athens Mint in 1843 (with an owl mark), whereas previously it had been minted at the mints of Munich and Paris.

This coin was not in the best condition, but it has great collectible value due to its rarity. In this regard, it should be noted that all coins from the period of King Otto in good condition they have a high collector's value, especially bronze ones.

Finally, a 100 drachma coin from 1935, which was also included in the auction, found its new owner for €32,000. This is a commemorative coin for the restoration of the monarchy (1935), issued by in a very small number of copies by a private mint in London in 1940. It should be noted that the Greek state, when ordering them, did not have the money to pay for them, so the issuing company provides them to private collectors to cover their costs.

The auction was organized by Nikos Mathioudakis and his company Attica Auctions in collaboration with one of the largest auction companies in Switzerland. They say that everything he holds in his hands, “turns to gold”as he knows the global markets for every collectible. From coins and banknotes to medals and comics.

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