Determinantes de la prima de los ecus españoles

This article examines the ecu coins minted by Spain in the period 1989 - 1996, consisting of twenty - five different coins. Eight of them are minted in gold and the r est in silver. Their appearance in Spanish numismatic auctions from 2011 to the present is analyzed, along with their tendency to appear together in the lots. The main objective is to estimate the impact of the main factors on the premium over the gold or silver content of each coin. Hedonic pricing models are presented that analyze the following factors: the change in price of gold or silver, the number of units of each coin auctioned during the period, the size of the coin, the number of copies in the lot, the company that conducts the auction and the initial price of each lot expressed as the percentage with respect to its intrinsic value.