Over the past two years, Bulgaria has imported coins from Estonia totaling 70.15 million euros, according to BGNES. In 2024 alone, imports reached 33.615 million euros, equivalent to 0.527 tons. Data from January to September 2025 shows an increase, with coin imports valued at 36.535 million euros, or 0.698 tons in weight.

Coins rank as the second most significant category of goods Bulgaria imports from Estonia, following precious metals. The growth in imports in 2024–2025 has been linked largely to rising prices for gold and silver. Total imports from Estonia in 2024 amounted to 199.982 million euros, representing a 106.6% increase compared to 2023 and accounting for 0.4% of Bulgaria’s total imports. From January to September 2025, imports totaled 242.995 million euros, a 92.1% rise over the same period in 2024, making up 0.6% of the country’s overall imports.

The coins in question are primarily investment-grade gold and silver, which have become increasingly popular among Bulgarians seeking to protect savings from inflation and geopolitical uncertainty. The preference reflects both tradition and a historical skepticism toward financial instruments, as well as a still-developing domestic market. Bulgarians often follow the philosophy of J.P. Morgan, who famously said, “gold is money, and everything else is credit,” investing in real estate or gold as a safeguard for the future.

In Bulgaria, investment gold coins are widely traded, ranging from modern issues such as the American Eagle, Vienna Philharmonic, Australian Kangaroo, Chinese Panda, and Krugerrand, to historical coins dating from the early 19th century to the First World War. Among the most sought-after are the French francs, known locally as “Napoleons.”

Gold prices have been extremely volatile in early 2026. On January 26, the metal surpassed $ 5,000 per troy ounce, reaching $ 5,100. Over the following two days, it climbed further to $ 5,300 and $ 5,600, before falling nearly 11% to finish the week at $ 4,900. As of February 2, gold is trading slightly above $ 4,600 per troy ounce on global markets.