Public banking on Collins to make a mint

By Rachael Power - Saturday, August 18, 2012

Ninety years after his death, Michael Collins is still the Irish revolutionary you can bank on — if sales of his commemorative coin collection is anything to go by.

Public demand has been extraordinary since the Central Bank launched two limited edition coins on Thursday to commemorate his death.

The €20 gold coins are selling for €50, €10 silver coins for €48, and the double coin set for €95.

Some 12,000 gold coins, 8,000 silver, and 6,000 double sets were minted.

Already 6,000 double coin sets are sold out.

Queues formed outside the bank on Dublin’s Dame St on Thursday and there was a steady flow of customers yesterday.

Phone and online sales have also been brisk since the launch by Finance Minister Michael Noonan.

In all, 32,000 coins were minted in anticipation of demand — 20,000 more than usual for commemorative coins.

The Central Bank said the numbers and speed of sales is unprecedented. "A steady flow of people have been coming in and of course many are buying online or by phone," a Central Bank spokesperson said.

"We would like to express our thanks to customers for their unprecedented interest in the coins."

Meanwhile, some buyers are cashing in on eBay by selling the coins for more than twice their price.

People are selling on their gold and silver coins for €120, while on the UK version of the website, the double set of coins is being sold for the equivalent of about €250.

Designed by artist Thomas Ryan, the coins feature a portrait of Collins and a harp.

Proceeds from the sale of the coins will go straight to the Department of Finance.

* RTÉ will cover the commemoration from 3pm tomorrow at www.rte.ie/live
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