First Coin for Pope Benedict XVI Announced Within Day of Election
Bavarian Mint Striking Coins for Bavarian Pontiff

Within hours of the election of German Cardinal Joseph Ratzinger as Pope Benedict XVI, the world's coin issuers were already fast at work to assure a suitable supply of commemorative items. Before a day had passed, in the German State of Bavaria, near where the new Pope was born and the city of Munich where he was Archbishop and was named Cardinal, the B.H. Mayer Mint was preparing the models for the first coin with his name and image. Authorized by Liberia, the issue will be available for delivery starting June 1 in either gold or silver, with identical designs.
The obverse features a half-length bust of the new Pope, with arms raised, standing in the square in front of St. Peter's Basilica. The legend reads "Habemus Papam" (Latin for "We have a Pope"), the date of the election "19-04-2005," and "Benedictus XVI."  The reverse shows Liberia's coat of arms, the name "Republic of Liberia," and the denomination.
The silver coin has a face value of $10 and an authorized mintage of 5,000 coins. It is 38.61 mm (1½ inches) in diameter and contains 25 grams of sterling (.925) silver. It costs $49.50 (US). The $25 gold coin comes in the currently popular 1/25 ounce, .9999 fine size. It is 13.92 mm in diameter (.55 inches) and has a mintage of 25,000 pieces. Its price is $54.50.