German Central Bank Cancels Coin Issues Due to Rising Silver Prices

The price of silver has forced the German Central Bank, and Münze Deutschland, the official distributor of collector coins and commemorative coins of the Federal Republic of Germany to delay indefinitely the issue of two forthcoming commemorative coins. In identical statements issued on October 17, they said that due to rise in the price of silver the last issue of 2025 and the first of 2026 are on hold.

As a result of the 65% rise in the price of silver since the start of 2025, the metal value of the German 20-euro and 25-euro silver coins is now significantly higher than their respective face values, making their issue impossible. Both the Є25 Christmas collector coin “Three Kings,” with an original issue date of November 20, 2025, and the Є20 coin marking the 125^th anniversary of the Wuppertal Suspension Railway (January 22, 2026) will not be issued on the planned dates.

The specifications of the coins were set at 22 grams of .999 silver, or $34.31 as of October 24 for the €25, 18 grams of .925 ($25.89) for the €20.

This Є20 coin marking the 125^th anniversary of the Wuppertal Suspension Railway was also planned but now on hold due to silver prices.

The bank added that it is exploring options for issuing the coins later, possibly by adjusting the parameters, including the metal content, if necessary.

The Germans mint’s issue policy differs in a manner more favorable collectors than many other world mints. Uncirculated ones are sold face value at branches of the Deutsche Bundesbank while available, which in normal times, still results in a respectable profit. At the current silver price, the profit has been wiped out. The selling price this year for proof versions of the €20 coins were €42.95.

Germany has recently issued one €25 and four €20 coins annually. Mintage figures from 2024 show them at over 250, 000 proofs and between 2 and 3 million in uncirculated.