Posted 09/05/2023 6:54 pm
I think the problem with the corona is, the Austrians make them as a gold analogue of the Maria Theresa silver thaler (which they also still make) - a restrike bullion coin, but not in a convenient fineness (.900 fine) or weight (almost, but not quite, 1 troy ounce of gold) for the stacker. So, much the same problem that gold sovereigns have, but without the prestige of the sovereign.
There's also no mintage limit; the total mintage is unknown, but very large - the Austrians have been making these 100 corona gold coins since WWI, all with the same fictitious "1915" date. So again, unlike sovereigns (where mintage figures are known and rich folks can collect them by date and mintmark), there's minimal collector interest. Thus, you have a "gold coin" that is less attractive to both collectors and bullion speculators. So thus, minimal premiums.
And, since the corona is no longer a currency unit in Austria, the coin lacks legal tender status - you can't theoretically spend it for 100 coronas, because the corona ceased to exist as a currency in 1925. Due to post-WWI inflation in Austria, the theoretical exchange rate of 100 coronas would be a tiny fraction of a eurocent. Indeed, the Austro-Hungarian Empire, in whose name the coin was originally struck, no longer exists either. So instead of "coins", think of them as a government-issued bullion round.
There's also no mintage limit; the total mintage is unknown, but very large - the Austrians have been making these 100 corona gold coins since WWI, all with the same fictitious "1915" date. So again, unlike sovereigns (where mintage figures are known and rich folks can collect them by date and mintmark), there's minimal collector interest. Thus, you have a "gold coin" that is less attractive to both collectors and bullion speculators. So thus, minimal premiums.
And, since the corona is no longer a currency unit in Austria, the coin lacks legal tender status - you can't theoretically spend it for 100 coronas, because the corona ceased to exist as a currency in 1925. Due to post-WWI inflation in Austria, the theoretical exchange rate of 100 coronas would be a tiny fraction of a eurocent. Indeed, the Austro-Hungarian Empire, in whose name the coin was originally struck, no longer exists either. So instead of "coins", think of them as a government-issued bullion round.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
