December 20, 2001	Thursday	Shawwal 4, 1422

WASHINGTON, Dec 19: Sets of euro coins are being auctioned at more than 10 times their face value on the Internet in advance of their official launch on January 1.

Just 12 days before the coins become legal tender, one bidder on the Internet auction site eBay agreed to pay 41 dollars for euro coins with a face value of 3.85 euros, or about 3.50 dollars.

“Be the first to have a set of the brand new German coins dated 2002 in uncirculated condition,” the seller said.

The auction closed with a final bid of 41 dollars — not including the 2.48-dollar air mail charge.

Another seller from the Netherlands — where the authorities offered each citizen a 3.88-euro kit comprising each euro coin for free — attracted a bid of 10.08 dollars.

American Numismatics Association spokesman Stephen Bobbit said the attraction of the currency was its novelty.

“It is the idea of having some new,” Bobbit said.

The coin sets might gain in value, he said, adding: “But I would not want to bet my kids’ college funds on it.”

Most real collectors were not in it for the money, Bobbit said. “They do it to hold a piece of history in their hands, and this is a piece of history,” he said.

Some of the coins on offer on the Internet have already been consigned a place in history.

At one auction, a bidder was offering 17.50 dollars — plus seven dollars shipping — for an “Isle of Wight euro coin set” offered by International Numismatics in Melbourne, Australia.

“The replacement of Europe’s major currencies by the euro is now very close. This five coin pattern set from the Isle of Wight shows theoretical euro designs,” International Numismatics said.

“Presented in a full-colour pack, it is a most interesting issue.” The coin pattern set was produced several years ago and will never become legal tender, a store employee explained to AFP.