The other side of the Maria Theresa coin
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.JOANNE GLOVER wrote in glowing terms in last Sunday's News of the World about what is considered to be the world's most beautiful coin - the Maria Theresa thaler. She began by explaining how the coin world was in a frenzy about the distribution of these silver bullion pieces, whose origin dates back to the Holy Roman Empire. Each bore the imposing bust of the legendary Empress and the date 1780, she added.
There was no doubt that the coins had a superb reputation, Ms Glover went on, having for many years circulated as a trusted medium of exchange in the Middle and Near East. She told her readership that the thalers were bigger than a crown piece and contained nearly an ounce of silver. Her view was that the distribution would be greatly over-subscribed. "At an issue price of £28.35 each, it's not surprising. I've applied for three," she said.
lt is true that the coin world is in a frenzy about the "distribution". Indeed, they are hopping mad about this and identical "features" in the tabloid press, which are not articles but adverts.
These are the facts about Maria Theresa thalers:
q They have been struck in mints as far apart as Bombay and St Petersburg.
q All bear the date 1780, though they have been struck for more than 200 years. They are not necessarily old or rare.
q It is estimated that 800 million have been minted.
q Austrian banks sell them at a small premium over their bullion value.
q They weigh nearly one ounce but contain 3/4 ounce of silver, worth about £2.
q Specimens are widely available from UK dealers at between £4.50 and £7 each.
Having rung the Freefone number in Ms Glover's feature and been told pieces were still available, I asked: "Are they a good investment?"
The man at The Gold & Silver Bureau in llford gruffly replied: "Do you want to buy or not?"
When I said I would think about it, he slammed down the phone.
Peter Morris of the British Numismatic Trade Association (BNTA) said: "The whole tone of the advert is aimed at persuading people to part with their hard-earned cash." The advertisement has been reported to the Advertising Standards Authorities.
If you do want to purchase coins, a list of BNTA members is obtainable on 0181-466 8501.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments