The German government has incurred a €1.4 million expense to address the fluctuating value of silver, which impacted two collector coins. The coins, "Heilige Drei Könige" (Holy Three Kings) and "125 Jahre Wuppertaler Schwebebahn" (125 Years of the Wuppertal Suspension Railway), were reworked after their metal content exceeded their face value in 2025. The Federal Ministry of Finance melted down and re-minted the coins with higher denominations and reduced silver content, costing €624,000 for the Christmas coin and €733,000 for the Wuppertal coin.
The reworked coins are being released with new face values: the Christmas coin will be sold for €50 instead of €25, and the Wuppertal coin for €35 instead of €20. Despite the additional costs, the ministry expects a profit in the upper single-digit millions from the new editions. However, Green budget lawmaker Sebastian Schäfer criticized the handling of taxpayer money.
Silver's price dropped 6.3% on Friday, closing at $49.14 an ounce, due to higher energy prices and persistent inflation worries. The Fed's preferred PCE price index climbed to 3.6% in September, reinforcing expectations of December rate hikes by the Fed and the ECB. The selloff in technology stocks also contributed to the decline.
Metals Focus predicts further silver weakness against gold, citing unwinding physical tightness and lower silver consumption in photovoltaics. For 2027, a supply surplus is expected, adding pressure to any hope of a durable recovery. Sucden Financial forecasts a rise to $57 to $60 an ounce by mid-January 2027, but this depends on easing monetary headwinds and demand worries.