2017-04-01 Sat

A dealer and four collectors were arrested in Germany on 4th March during the Numismata show in Munich. 3 coins were seized from these culprits who attempted to halt the sale of cultural property in Germany. The arrested members could not provide evidence of the provenance of their ancient coins which were worth €1,600. The collectors had inflated the prices for the three pieces.

Another dealer did not have documents about the origin of almost 6,000 coins and about 1,000 other objects. These items had a net worth of more than €50,000.

The new law was introduced in 2016 according to which, at least 20 years’ of provenance for objects of cultural importance is required apart from export license for 70-year-old objects and objects worth more than €300,000.