All change as coin collectors get euro fever

Business is booming for British coin dealers and currency lovers as the advent of the euro sparks renewed interest in collecting cash, money specialists said today.

Stephen Fenton, chairman of the British Numismatic Trade Association, said the British coin industry was flourishing and suggested the reason for it was the currency changes as 12 European Union countries begin to use new notes and coins from tomorrow.

He said: ‘‘People are collecting coins more than ever and this could be due to the current currency changes and people realising the importance of payment means.

‘‘Some British coins, particularly hammered early English gold and silver, have increased by 30-40% this year and we are getting some really good prices.’’ John Orna-Ornstein, money curator at the British Museum, also forecast a renaissance of coin-collecting in Britain with the introduction of the euro across Europe.

‘‘There was a boom in interest in the 1970s after decimalisation in 1971 and people all over the country were collecting sets of currency.

‘‘I am absolutely sure that this will happen again in Europe and in Britain when the euro is introduced and the public will be grappling for last currency sets from dealers.

‘‘Most people are very reluctant to see their currency changed, seeing it as part of their identity. They build a trust in certain notes and coins so often want to cling on to their old notes in a flurry of nostalgia.’’

The museum is planning an exhibition in February of soon to be extinct currency sets including those from France, Greece and Germany.

It will also get full sets of euro notes and coins for the public to handle in a special gallery.

Peter Morris, a numismatist who runs a coin a shop in Bromley, Kent has seen a recent rush of interest in euro coin sets over the last few months with enthusiasts keen to get their hands on first editions.

‘‘Hundreds of people have contacted me wanting one set of each eurozone country’s eight coins - that’s a total of 96 coins,’’ he said.

‘‘Each country is allowed to choose its own ‘‘head’’ side to the coin - for example, the Spanish have their King and the Irish have harps and patterns. All are interchangeable so we will soon be walking around with a pocket full of coins with different images on - it will be very interesting.

‘‘People are also coming in curious to see specimens of the 500 euro note, worth about stg£300 so much higher in value than any current English note.

‘‘It’s an exciting time for coin-collectors and the euro has encouraged new people to become involved in the interesting and educational and occasionally profitable hobby of numismatics.’’