To estimate a maximum purchase price for the coin in question, let's consider several factors:

1. Current starting price: 1200 euros.
2. Condition of the coin: 95 (EF+), indicating good preservation, although not the best possible.
3. Auction history:
- In 2020, the coin was auctioned with a starting price of 2500 euros and sold for 3200 euros, with a condition of 100.
- In 2021, it was estimated at a price of 2000 euros, but it sold for 1450 euros, also with a condition of 100.

4. Average starting and selling price: The average starting price is 1850 euros and the average selling price is 2325 euros.

Given that the condition of the current coin is 95, which is lower than the conditions of 100 from previous auctions, it is reasonable to adjust the estimated price downward.

We can consider that, based on the price history and condition, a maximum purchase price could be set between the average selling price and the current starting price, adjusted for condition.

An approximate calculation could be:

- Average selling price: 2325 euros.
- Adjustment for condition (considering that 95 is slightly less than 100): we could reduce the price by 10-15%.

If we apply a 10% adjustment to the average selling price:

2325 - (2325 * 0.10) = 2092.5 euros.

Therefore, an estimated maximum purchase price could be around 2000-2100 euros. This reflects a balance between the price history and the current condition of the coin.