Collector coins Sample Clauses

Collector coins. These are coins which are deemed not to be put into circulation although they are legal tender for domestic use. The quantities and themes shall be submitted to the RMB in advance, as the RMB will be responsible for drawing up and publishing the necessary implementing decrees. The KMB and the licensee discuss the themes for new collector coins. The decision as to which coins may be produced as collector coins comes from the Minister of Finance (see below). Issues of collector coins shall cover one of the following six themes: 1) Nature and environment 2) Well-known Belgians 3) Belgian institutions 4) Historical events 5) Belgian royal family 6) European-international For each theme, only one coin design may be chosen each year. Consequently, the number of collector coins is limited to six coin designs per year. The packaging for each theme shall be uniform, creating the effect of a series being released. The coins’ denomination and metal construction shall be fixed for the entire period. For coins that are purchased in special versions (up to and including 2 euro), the licensee shall remit the face value to the NBB.
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Collector coins. The proposal with regard to the six theme groups mentioned above comes from the transferee and is jointly discussed by the licensee and the RMB. However, approval from the Minister of Finance is required. The maximum is six themes per year and one subject per theme. The minimum is one gold, one silver and one copper-nickel. The decisions made for the year 2022 shall determine the further elaboration of the project throughout the duration of the contract. For instance, a theme that is worked out with a 50-euro gold coin in 2022, shall be followed by a 50-euro gold coin in 2023, 2024 and 2025, and the packaging of these coins shall be in the same line. All costs for rights payable to third parties, including copyrights, portrait rights etc., shall be borne by the licensee, which shall take the necessary steps in this respect. Contracts with third parties in that matter shall be transferred to the RMB before production can begin. Colouration is allowed for one theme per year. The price is set freely by the licensee, but should preferably be based on the sales price of similar issues by the RMB in the last three years. The mandatory specifications of collector coins regarding quality and dimensions are as follows: Face value Type Diameter Tolerance Weight Tolerance Composition 2.5 euro Brass 25.65 0.05 8.5 0.13 CuNiZn alloy Copper 63 % - Zinc 37 % 5 euro Copper-nickel 30 0.1 12 0.18 Argentine Copper 75 % - Nickel 25 % 5 euro Silver 30 0.1 14.6 0.22 Ag 925 10 euro Silver 33 0.1 18.75 0.28 Ag 925 20 euro Silver 37 0.1 22.85 0.34 Ag 925 12.5 euro Gold 14 0.05 1.25 0.01 Au 999 25 euro Gold 18 0.05 3.11 0.03 Au 999 50 euro Gold 21 0.05 6.22 0.06 Au 999 100 euro Gold 29 0.05 15.55 0.16 Au 999 Since the licensee is not required to remit the counter value of the coins with a face value higher than 2 euro to the NBB immediately (unlike the case of commemorative coins and coin sets), but only if these coins are offered to the NBB for their face value, the licensee shall contractually be obliged to remit the counter value of collector coins offered to the NBB even after the termination of the contract.

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