Collectors can once again look forward to an exciting and diverse auction week in Osnabrück. From September 22 to 25, 2026, Auctions 445 and 446 will present a wide-ranging selection of medieval and modern coins and medals, including the dispersal of several important specialized collections. Across the two catalogues, nearly 2,600 lots will be offered with a combined estimate of approximately €5 million. 

Particular highlights include:

• Argentum Poloniae – The Collection of Polish Talers. 

• A further installment of the impressive collection of Commercial Councillor Dr. Herbert Wenzel, featuring Habsburg coins and medals.

• The Erich Götz Collection, with a focus on the collector's native Upper Palatinate. 

• The collection of a Rhineland collector and art enthusiast, featuring gold coins from around the world.

• Last but not least, a physicist's collection of German Empire coins in fabulous condition, many displaying spectacular toning.

Offered under the title Argentum Poloniae is a collection of 113 talers reflecting the fortunes of Poland throughout its history. From Stephen Báthory to the Duchy of Warsaw, these coins, many preserved in remarkable condition, portray the rulers who once stood at the head of the Polish-Lithuanian Commonwealth. Since the Polish Sejm reserved the right to elect the king, portraits of rulers from various dynasties appear throughout the series. Particularly well represented is the period during which the Wettin dynasty held the Polish crown. 

The collector assembled this ensemble with great diligence and scholarly dedication. The result is an impressively comprehensive collection that offers a fascinating introduction to the eventful history of a country situated at the heart of Europe. Through these Polish talers, one can trace centuries of political, dynastic and cultural change.

By now, Dr. Herbert Wenzel needs little introduction. In the numismatic world, his name has become synonymous with Habsburg rarities of the finest quality and preservation. As in previous sales, coins from his collection are distributed throughout Catalogues 445 and 446. 

Alongside the major rarities, special attention should also be paid to the Habsburg minor coinage offered in this auction. Selected with great care and expertise, these pieces are presented in thoughtfully assembled groups, many carrying estimates in the double- and triple-digit range.

For collectors of Habsburg numismatics, a thorough reading of this catalogue is indispensable. 

The undisputed highlight of this section is a 20-ducat piece of Ferdinand II struck at the Klagenfurt mint. Dr. Herbert Wenzel acquired this coin in 1949 from the heirs of Privy Judicial Councillor Dollinger. Since then, it has never reappeared on the market. The coin is especially remarkable because Klagenfurt gold multiples are of extreme rarity. Although Carinthia's principal mint was located in St. Veit, the minting privilege was disputed. The Carinthian Estates, keen to preserve their independence, claimed their own right to coin money. In response, Archduke Ferdinand established a sovereign mint in Klagenfurt in 1522. Its operation, however, came to an end as early as 1622.

Coins offer fascinating insights into past eras and distant cultures, providing a wonderful opportunity to escape everyday life for a moment and immerse oneself in history.

This was also the view of the collector Erich Götz, whose busy professional life revolved around trading minerals from more than sixty countries. Born in the Upper Palatinate, Erich Götz was familiar with the wider world. Nevertheless, his greatest passion was the history and numismatics of his native region. The core of his collection consists of coins struck in Regensburg, Amberg, Neumarkt, Cham, and Nabburg, although his collecting interests extended far beyond these areas.

His dedication to the numismatic heritage of the Upper Palatinate is reflected in his book The Coinage of the Upper Palatinate – History and Catalogue, published in 1992. The work demonstrates the immense knowledge, patience, and scholarly approach with which Erich Götz assembled the coins of his homeland.

The Rhineland collector and art lover whose exquisite gold coin collection will be dispersed in Auction 446 did not pursue the ideal of completeness. Instead, his sole criterion was the quality and aesthetic appeal of each individual piece, regardless of the period from which it originated. The result is a remarkably diverse collection united by a common thread: exceptional quality and refined taste. It combines classic numismatic treasures with rare and exotic twentieth-century gold issues, offering discoveries for collectors with a wide variety of interests.

The final collection we are pleased to present comprises an extraordinary series of coins from the German Empire, assembled by a passionate physicist. Collectors who appreciate outstanding states of preservation and fascinating toning will find this offering particularly appealing. Regardless of the price range in which you collect, you are certain to discover one or more pieces that will complement your collection and fit within your budget. 

Prospective bidders should be aware, however, that coins of this quality currently attract tremendous interest on the international market. As a result, hammer prices may well exceed the estimates significantly. Many experts are also convinced that the market potential of German Empire coinage is far from exhausted. 

Together with two additional collections included in the sale, this offering represents a combination that is encountered only very rarely. Its exceptional quality is illustrated by the fact that no fewer than 62 of the 503 lots are designated as "Top Pop" examples.

As always, the auction also features an extensive selection of coins and medals from around the globe. Alongside numerous major rarities, collectors will find many attractive pieces suitable for more modest budgets. We would like to draw attention to some of the most remarkable highlights, while encouraging bidders not to overlook the many hidden treasures among the lots.

As you know, the coins from the German States are one of our particular specialties. This auction once again features an extensive selection from the many imperial cities, abbeys, bishoprics, principalities, and territories that enjoyed minting privileges within the Holy Roman Empire. Collectors can look forward to a wealth of coins and medals, some rare, some preserved in exceptional condition, some of great historical importance, and occasionally combining all three qualities in a single piece.