Costs of 1.4 Million Euros: High Silver Price: Ministry Had to Melt Coins
4 Articles
4 Articles
The Federal Ministry of Finance had silver coins minted. Then material prices rose – and the coins had to be destroyed for a lot of money.
Collapse in the Ministry of Finance: Flop with Silver Coins Costs Taxpayers Almost 1.4 Million Euros
It should be a business for the federal budget. Instead, the breakdown costs taxpayers almost 1.4 million euros.
Coins made of silver can be an investment or a gift. However, the sharp rise in the price of the fine ounce of silver a year ago destroyed the calculation for the manufacturers. The Federal Ministry of Finance also had to cancel the planned sale of two coins.
Because the silver was worth more than the issue price, SPD finance minister Lars Klingbeil had to melt thousands of special coins again. Now it is clear how much the misadventure cost the taxpayer.
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