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Diskussionsbeitrag / Discussion. Paper Coin: Migration and Seigniorage within the Euro Area


  • Seitz Franz

    () (University of Applied SciencesWeiden, HetzenrichterWeg 15, 92637Weiden, Germany, and WSB Poznan, Poland)

  • Stoyan Dietrich

    () (TU Bergakademie Freiberg, Institute of Stochastics, 09596 Freiberg, Germany)

  • Tödter Karl-Heinz

    () (Deutsche Bundesbank, Research Centre, Wilhelm-Epstein-Strasse 14, 60431 Frankfurt a.M., Germany)


The introduction of the euro coins in 2002 presented a unique opportunity to study the crossborder migration and the mixing process of coins in different euro-area countries. This note analyses how many euro coins flow from and into Germany and which composition of coins is to be expected in the long run. A simple model of coin migration is formulated and calibrated for Q1 coins. The ratio of German coins circulating in Germany is likely to settle around 50%if past growth of coin volumes continues. In contrast to banknotes, allocation of coin seigniorage depends on national coin issuance. Different national growth rates of coin volumes have important implications for coin seigniorage.

Suggested Citation

  • Seitz Franz & Stoyan Dietrich & Tödter Karl-Heinz, 2012. "Diskussionsbeitrag / Discussion. Paper Coin: Migration and Seigniorage within the Euro Area," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 232(1), pages 84-92, February.
  • Handle: RePEc:jns:jbstat:v:232:y:2012:i:1:p:84-92

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    References listed on IDEAS

    1. Seitz, Franz & Stoyan, Dietrich & Tödter, Karl-Heinz, 2009. "Coin migration within the euro area," Discussion Paper Series 1: Economic Studies 2009,27, Deutsche Bundesbank.
    2. Ernst Baltensperger & Thomas J. Jordan, 1997. "Principles of Seigniorage," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 133(II), pages 133-152, June.
    3. Dietrich Stoyan & Helga Stoyan & Gunter Döge, 2004. "Statistical Analyses and Modelling of the Mixing Process of Euro Coins in Germany and Europe," Australian & New Zealand Journal of Statistics, Australian Statistical Publishing Association Inc., vol. 46(1), pages 67-77, March.
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    Cited by:

    1. Altmann, Markus & Bartzsch, Nikolaus, 2014. "The volume of euro coins held for transaction purposes in Germany," MPRA Paper 59542, University Library of Munich, Germany.

    More about this item


    Euro coins; mixing process; seigniorage;


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