Commemorative coin

Coins might also be issued with the specific purpose of financing a military campaign, or for the payment of tribute or war indemnity by a feudal lord to his sovereign.

During the era of the formation of the European nation states, the issuance of special coins explicitly commemorating various events became increasingly common.

These coins were frequently devised to establish a public notion of nationhood, and also to honor the ruling monarch and his dynasty.

During the economically exhausting Napoleonic wars, a one sixth rigsdaler was issued in Denmark from voluntary contributions from the public, intended to finance the creation of a new fleet.

After the (political and monetary) unification of Germany, some German states continued issuing separate coins on special occasions, such as the jubilee of a ruling monarch.

While the commemoratives of these decades continued to be issued predominantly in precious metals, their use as circulating currency became scarce or ceased entirely.

Already in 1965, the Soviet Union issued a copper-nickel-zinc rouble commemorating the victory in World War II.

In the United Kingdom, before decimalisation of the money system in 1971, the usual commemorative coin was a crown, or five shilling piece.

Likewise, in East Germany, some commemorative coins were issued with a primary purpose of earning foreign currency, while others actually circulated, albeit in smaller quantity than the bank notes of the corresponding denominations.

Many countries issue large quantities of non-circulating legal tender purely for seigniorage as a profit making exercise.

The US Bicentennial quarter is an example of a circulating commemorative coin. It is one of the most common commemorative coins, with over 1.6 billion minted, [ 1 ] and as a result is still in regular circulation.
Coin issued during the reign of Roman emperor Lucius Verus (161–169) to celebrate his victory against Vologases IV of Parthia. The reverse shows the mourning personification of Armenia.
Denmark two kroner coin issued in 1912 commemorating the accession in that year of king Christian X . The king’s late father, Frederik VIII is depicted on the reverse.
Soviet rouble of 1965, commemorating the 20th anniversary of the victory in World War II. 60 million pieces were minted [ 3 ] and circulated as regular currency.
Polish 10 złotych of 2008, commemorating 450 Years of the Polish Postal Service. The central part of the obverse shows a stylized image of a postage stamp changing colours depending on the tilt angle.