Circulation of unfit coins are difficult to use, particularly in coin-operated machines, and may create confusion for users as to the authenticity and validity of those coins. Unfit coins should therefore be removed from circulation.

Due to statutory requirement the Münze Österreich AG had to accept coins unfit for circulation per se and exchange them for legal tender. In the last two decades Austria was flooded with so called “recycled coins”, burned, tarnished and bent.

Professional dealers bought these “coins” for the pure weight price and brought them to Austria for reimbursement. I was a huge and profitable business.

The reimbursement of these deliberately altered coins was very expensive, the costs and damage were millions of euros.

With the change of the Austrian Coinage Act 2016 Austria stopped this procedure in line with European laws and guidelines.