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What is the difference between an open edition, a limited edition and a numbered series?

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What is the difference between an open edition, a limited edition and a numbered series?

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In Open Editions, the piece is produced in an unlimited number from the date of its issue until its retirement year. In Limited Editions, the piece is produced in a limited number from the date of its issue and is then sold-out when the whole series is commercialized. The number of units to be produced is decided before the introduction of the specific piece which will be commercialized together with a certificate authenticating it as a limited edition. In Numbered Series, the piece is produced from the date of its issue until its retirement date, but numbered in a non-limited form, and commercialized together with a numbered certificate.

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