Duitsland, Medaille, Freiherr vom und zum Stein

Although nowadays gold enjoys a reputation as the king of precious metals, that was not always the case. For example, in Ancient Greece, Corinthian bronze was widely considered to be superior. However, over the course of time, it has established itself as the prince of money, even though it frequently vies with silver for the top spot as the standard.

Nevertheless, there are other metals which appear to be even more precious than this duo, take for example rhodium and platinum. That is certain. Yet, if the ore is not as available, how can money be produced in sufficient quantities? It is therefore a matter of striking a subtle balance between rarity and availability.

But it gets better: gold is not only virtually unreactive, whatever the storage conditions (and trouser pockets are hardly the most precious of storage cases), but also malleable (coins and engravers appreciate that).

It thus represents the ideal mix for striking coins without delay – and we were not going to let it slip away!

The chemical symbol for gold is Au, which derives from its Latin name aurum. Its origins are probably extraterrestrial, effectively stardust released following a violent collision between two neutron stars. Not merely precious, but equally poetic…

The first gold coins were minted by the kings of Lydia, probably between the 8th and 6th century BC. Whereas nowadays the only gold coins minted are investment coins (bullion coins) or part of limited-edition series aimed at collectors, that was not always the case. And gold circulated extensively from hand to hand and from era to era, from the ancient gold deposits of the River Pactolus to the early years of the 20th century.

As a precious metal, in the same way as silver, gold is used for minting coins with intrinsic value, which is to say the value of which is constituted by the metal from which they are made. Even so, nowadays, the value to the collector frequently far exceeds that of the metal itself...

It should be noted that gold, which is naturally very malleable, is frequently supplemented with small amounts of other metals to render it harder.

As in numismatics it is important that the state of conservation of an item be carefully evaluated before it is offered to a discerning collector with a keen eye.

This initially obscure acronym comprising two words describing the state of conservation is explained clearly here:

Mint State(63)

This means – more prosaically – that it is very unlikely that the coin has circulated, even among few and careful hands. Traces of any manipulations are practically imperceptible and no patina or other form of oxidation has altered the object’s brilliance.

• Geographical location: Central Europe
• Current political regime: Federal constitutional parliamentary republic
• Current capital: Berlin

Brief history

From the Germanic “barbarian” tribes of the 1st century AD, a constant source of concern for the Roman Empire, to the domination of the Kingdom of the Franks from the 5th to the 10th century, then under the rule of Charlemagne, it was first in the Middle Ages, following the deposition of Charles III (the Fat) in 887, that the Germanic people as we know them came to be.

This was then the age of the Holy Roman Empire, which would endure from the 9th to the end of the 18th century. An empire of exceptional longevity, whose flame would only be extinguished by the continuous advance of the Enlightenment, the neighboring French Revolution, and the unbridled expansionism of Napoleon Bonaparte.

The 19th century was turbulent and finally gave birth in 1871 to the Kaiserreich (German Empire), a federal state headed by a Kaiser (emperor), a Kanzler (chancellor), and the Reichstag (parliament). At the end of World War I, in 1918, the Kaiser was deposed and Germany deprived of 13% of its territory. This heralded in the era of the Weimar Republic, undermined from the very start by the Treaty of Versailles and the economic crisis. Hitler appeared on the scene.

He was appointed Chancellor in 1932 and subsequently, thanks to the Enabling Act of 1933, established a dictatorial system. After the death of President Hindenburg in 1934, the era of the Third Reich began with its madness, iron fist, terrifying policies, disheveled nationalism, and unlimited desire for expansion. The Third Reich and Axis powers would not surrender until May 1945.

After World War II and the Allied Occupation of Germany, the country was divided in two and the Iron Curtain came down as the Berlin Wall went up. The Wall did not fall until 1989, and divided Germany was finally reunified in 1990.

Coins

The currency of Germany has always been the mark, albeit in a variety of forms. The word “mark” has its origin in the Middle Ages. In the 12th century, the value of the mark was directly linked to the weight of the metal from which it was made.

The mark as a unit of currency was not defined until the Reichstag did so in 1871. It was then worth 1/1,395 of a pound of gold and divided into 100 pfennigs.

Then came the monetary reform of 1923 following hyperinflation (just imagine – 1 dollar back then would be worth up to 11.7 billion marks!), which introduced the Rentenmark against mortgage of the country’s capital. 1 billion Papiermark (paper marks) were equivalent to 1 Rentenmark. In 1924, once the situation had been stabilized, the Reichsmark was created and convertible into gold or foreign currency. It would endure until 1948.

In 1948, two currencies came into use: the western zone (future FRG) used the Deutsche Mark and the eastern zone (future GDR) used the East German mark. After the Reunification of Germany in 1990, only the Deutsche Mark (DM) remained.

In 2002, Germany switched to the euro (€).

Great inventions

Among other things, the Germans invented the printing press (Johannes Gutenberg,15th century), the automobile (Karl Benz, 1885), the streetcar (1881), aspirin (Felix Hoffmann, 1897), X-rays (Wilhelm Conrad Röntgen, 1895), and even coffee filters (Melitta Bentz, 1908).

Painting: "A View of the Opera and Unter den Linden, Berlin" by Eduard Gaertner (1845)