YEREVAN, January 24. /ARKA/. The Yerevan-2800 silver collectible commemorative coin, issued by the Central Bank of Armenia in 2018, won the 3rd place in the Coin of the Year nomination at the 13th international competition Coin Constellation 2019 in the Russian Federation.
The competition featured some 220 collectible coins issued in 2018. It attracted 33 organizations from 22 countries. The winning coins were determined by an international jury.
Collectible commemorative coins are coins made of precious metals, which are issued with the aim of presenting the national, interethnic, historical, cultural, spiritual and other values of the country, perpetuating these values in the metal, as well as to satisfy the needs of the numismatic market.
Like any other kind of money, commemorative coins have a nominal value, which makes them a means of payment. However, the nominal value of commemorative coins is much lower than their cost, which includes the cost of the precious metal of which the coin is made, production costs and other expenses.
Low face value and high cost make it possible to consider commemorative coins not as a means of payment used in monetary circulation, but as a collectible. Commemorative coins also have a selling price set by the Central Bank of Armenia.
As a collectible, commemorative coins are issued in strictly limited quantities and are not re-issued. -0-
