Is a German silver coin worth more than its face value?

It depends on the silver price and on the coin type. The table on this page gives, for each type, the silver price per troy ounce at which the silver is worth exactly the face value. Above that price the metal is worth more; below it, less.

Can I pay with a German silver collector coin?

German collector coins are legal tender in Germany only, at their face value. They are not legal tender in other euro countries.

German silver coins: face value and silver value

A German silver collector coin is legal tender in Germany at its face value. Its silver is worth a different amount, which moves with the silver price. This page shows how much fine silver each coin type since 2002 holds, and the silver price at which the two are equal.

Last checked on 9 November 2026.

Silver content by coin type

Coin	Issued	Weight	Fineness	Fine silver	Silver equals face value at
10 euro normal and mirror finish bundesbank.de 2	2002 to 2010	18.00 g	925/1000	16.65 g	€18.68 per troy ounce
10 euro mirror finish, sold above face value In normal finish only one coin had this alloy (Franz Liszt, February 2011); from June 2011 the normal finish is copper-nickel, without silver. gesetze-im-internet.de, bundesbank.de 2	2011 to 2015	16.00 g	625/1000	10.00 g	€31.10 per troy ounce
20 euro normal and mirror finish bundesbank.de 2	2016 to 2025	18.00 g	925/1000	16.65 g	€37.36 per troy ounce
25 euro normal and mirror finish Christmas series in fine silver. bundesfinanzministerium.de 2	2021 to 2024	22.00 g	999/1000	21.98 g	€35.38 per troy ounce
35 euro normal finish, issued at face value bundesfinanzministerium.de 2	since 2026	17.00 g	500/1000	8.50 g	€128.07 per troy ounce
35 euro mirror finish, sold above face value bundesfinanzministerium.de 2	since 2026	18.00 g	925/1000	16.65 g	€65.38 per troy ounce
50 euro normal finish, issued at face value bundesfinanzministerium.de 2, bundesbank.de	since 2026	21.00 g	625/1000	13.13 g	€118.49 per troy ounce
50 euro mirror finish, sold above face value bundesfinanzministerium.de, bundesbank.de	since 2026	22.00 g	999/1000	21.98 g	€70.76 per troy ounce

Silver value at different silver prices

The value of the silver in one coin at a given silver price per troy ounce (31.1035 g). Bold: the silver is worth more than the face value. Coins in mirror finish are sold above face value, so for them the face value is not what a buyer paid.

Coin	€20	€40	€60	€80	€100	€120	€140
10 euro (2002 to 2010, normal and mirror finish)	€10.71	€21.41	€32.12	€42.82	€53.53	€64.24	€74.94
10 euro (2011 to 2015, mirror finish, sold above face value)	€6.43	€12.86	€19.29	€25.72	€32.15	€38.58	€45.01
20 euro (2016 to 2025, normal and mirror finish)	€10.71	€21.41	€32.12	€42.82	€53.53	€64.24	€74.94
25 euro (2021 to 2024, normal and mirror finish)	€14.13	€28.26	€42.40	€56.53	€70.66	€84.79	€98.93
35 euro (since 2026, normal finish, issued at face value)	€5.47	€10.93	€16.40	€21.86	€27.33	€32.79	€38.26
35 euro (since 2026, mirror finish, sold above face value)	€10.71	€21.41	€32.12	€42.82	€53.53	€64.24	€74.94
50 euro (since 2026, normal finish, issued at face value)	€8.44	€16.88	€25.32	€33.76	€42.20	€50.64	€59.08
50 euro (since 2026, mirror finish, sold above face value)	€14.13	€28.26	€42.40	€56.53	€70.66	€84.79	€98.93

Silver value = fine silver in grams ÷ 31.1035 × silver price per troy ounce. This is the metal value alone, before any dealer's margin.

What changed, and when

October 2010: The finance ministry decides to cut the silver content of the 10 euro coins from 925 to 625 parts per thousand from 2011, in both finishes, because the silver price had risen. bundesbank.de
April 2011: After a further rise in the silver price the ministry decides that 10 euro coins in normal finish are made of copper-nickel, starting with the coin “125 Jahre Automobil”. The mirror finish keeps 625 silver. bundesbank.de, gesetze-im-internet.de
2016: 20 euro coins replace the 10 euro coins. Both finishes are 925 silver and weigh 18 g. bundesbank.de
10 September 2025: The ministry announces higher face values from spring 2026: 25 euro for the sterling silver coins and 35 euro for the fine silver coin. No coin was issued at these values; the decision of December 2025 replaced them. bundesfinanzministerium.de
October 2025: According to press reports, two issues are postponed because the silver in each coin was worth more than its face value: the 25 euro coin “Heilige Drei Könige” and the 20 euro coin “125 Jahre Wuppertaler Schwebebahn”. euronews.com (press)
10 December 2025: The federal government raises the face value of the sterling silver coins to 35 euro and of the fine silver coins to 50 euro, citing the sharp rise in the silver price. bundesfinanzministerium.de
30 March 2026: The federal government changes the alloys of the normal finish for all coins issued from 2026: the 35 euro coin goes from 925 silver and 18 g to 500 silver and 17 g, the 50 euro coin from fine silver and 22 g to 625 silver and 21 g. The mirror finish stays as it was. bundesfinanzministerium.de
23 July 2026: The first 35 euro coin is issued (“150 Jahre Richard-Wagner-Festspiele Bayreuth”). bundesfinanzministerium.de 2
5 November 2026: The first 50 euro coin is issued (“Heilige Drei Könige”). It carries the year 2025, the year it was first planned for. bundesbank.de

Why face values rise

The face value of a coin is fixed on the day it is issued; the silver price is not. Once the silver in a coin is worth more than its face value, every coin handed out at face value costs the issuer money. The answer is a higher face value, less silver, or both. It is the same arithmetic as inflation: a fixed amount of money buys less metal over time.

Not investment advice and not a forecast.

Frequently asked questions

Is a German silver coin worth more than its face value?: It depends on the silver price and on the coin type. The table on this page gives, for each type, the silver price per troy ounce at which the silver is worth exactly the face value. Above that price the metal is worth more; below it, less.
Can I pay with a German silver collector coin?: German collector coins are legal tender in Germany only, at their face value. They are not legal tender in other euro countries.