Euro coins
Encyclopedia
There are eight euro
coin denominations, ranging from one cent to two euros (the euro is divided into a hundred cents). The coins first came into use in 2002. They have a common reverse
, portraying a map of Europe
, but each country in the eurozone
has its own design on the obverse
, which means that each coin has a variety of different designs in circulation at once. Three European microstates
which use the euro as their currency also have the right to mint coins with their own designs on the obverse side.
The coins, and various commemorative coins
, are minted at numerous national mints across the European Union
to strict national quotas. Obverse designs are chosen nationally, while the reverse and the currency as a whole is managed by the European Central Bank
(ECB).
side showing how much the coin is worth, with a design by Belgian
designer Luc Luycx
. The design of the 1-, 2-, and 5-cent coins symbolises Europe's place in the world as a whole.
Cyprus
is shown several hundred kilometres north west of its real position in order to include it on the map. On the €1 and €2 coins, the island is shown to be directly east of mainland Greece
; on the 10-, 20-, and 50-cent coins, it appears directly below Crete
. The original proposal from the European Commission
was to include Turkey
on the map; however this design was rejected by the Council
.
The first issue of these coins were minted in 2006, by the Mint of Finland, for the Slovenian euro coins
. These coins came into circulation in 2007 and have been compulsory for existing members since 2008. The one-, two-, and five-cent coins remained unchanged, with the Commission stating that they remained unaffected as they show Europe's place in the world, even though the EU 15 are still highlighted on the map. It is unknown how soon Iceland
would be added to the map if it becomes an EU member in the next few years.
, Sweden
, and Denmark
) were also depicted. Non-EU states were not depicted, for example giving the impression that Sweden
had a large west coast (as Norway was not on the map).
On the €1 and €2 coins, the landmass appeared more cohesive although borders were indicated. The vertical ridges also passed through some non-participating countries. As in current issues, all coins featured 12 stars in their design.
The year featured in the coins can date back to 1999, when the currency was formally established (only Belgian
, Finnish
, French
, Dutch
, and Spanish
coins have 1999). These countries traditionally stamp the coin with the year of being minted rather than the year of being put into circulation.
side varies from state to state, with each member allowed to choose its own design. Each of the eight coins can have the same design (such as Belgian coins
), or can vary from coin to coin (such as Italian coins
). In monarchies, the national side usually features a portrait of the country's monarch, often in a design carried over from the former currency (e.g. Belgium). Republics tend to feature national monuments, symbols, or stylised designs (such as French coins
). Engravings on the edge of the €2 coin are also subject to national choice.
There are, however, some restrictions on the design: it must include twelve stars, the engraver's initials, and the year of issue. New issues must also include the name of the issuing country (a rule currently breached by Germany
and Greece
, while Belgium
, France
and Italy
use an abbreviation rather than the full name). It may not repeat the denomination of the coin or the word euro unless it is in a different alphabet (such as on Greek coins
). This rule is flouted by Austria
. The national side was also to remain unchanged until the end of 2008, unless a monarch depicted on a coin died or abdicated (such as in the case of the Vatican's coins
).
There are at present no plans to abolish the national designs in favour of a common European one. However the Commission has proposed that the one-, two-, and five-cent coins have a common design to keep costs down.
Though they are not members of the EU, Monaco
, San Marino
, and the Vatican City
also have euro coins featuring a national side, but these coins are not put into general circulation by the authorities who instead sell them to collectors for prices higher than their face value. Andorra
has reached an agreement with the EU to mint its own coin design, probably from 2013, but subject to ratification by the Andorran Parliament.
"The national side should not repeat any indication on the denomination, or any parts thereof, of the coin neither should it repeat the name of the single currency or of its subdivision, unless such indication stems from the use of a different alphabet."
"This Recommendation should apply to national sides and edge letterings of both normal and commemorative euro circulation coins. It should not apply to the national sides and edge letterings of both normal and commemorative euro circulation coins which have been first issued prior to the adoption of this Recommendation."
The above paragraphs, from a European Commission Recommendation of 19 December 2008, in essence, exhorted five eurozone members to change their national designs. Finland was the first state to do so, in 2007, Belgium did so in 2008 while Austria or Germany will not change their current designs for the time being. Greece is still pending.
and the Netherlands
round prices to the nearest five cents (Swedish rounding
) if paying with cash, while producing only a handful of those coins for collectors, rather than general circulation. The coins are still legal tender and produced outside these states. Despite this, many shops in the Netherlands refuse to accept them.
The Swedish rounding
law in Finland was issued in January 2002 and thus before the coins were put into circulation. The Netherlands followed suit in September 2004, with Belgium
making moves to follow in 2005. The Netherlands did so under pressure from retail businesses, which claimed that dealing with 1- and 2-cent coins was too expensive. After a successful experiment in the little town of Woerden
in May 2004, retailers in the whole of the Netherlands
have been permitted to round cash transactions to the nearest five-cent since September 2004.
This is in part due to factors such as rising metal prices: De Nederlandsche Bank
calculated it would save $36 million a year by not using the smaller coins. Other countries such as Germany
favoured retaining the coins due to their desire for €1.99 prices, which appear more attractive to the consumer than a €2 price. This is echoed by the European Central Bank
itself which supports the coins, stating it allows businesses to calculate prices more exactly to attract consumers, such as 99 cents. According to a Eurobarometer
survey of EU citizens, Germans are most sceptical about the removal of the one- and two-cent coins from complete circulation in the eurozone, however on average there is a majority for their removal (58% for the one cent coin and 52% for the two cent coin in 2005). The Belgians are most supportive of their removal.
The 1-, 2-, and 5-cent coins account for approximately 80% of all new coins minted in the eurozone. Due to the expense of producing such low value coinage, the Commission with some member states have proposed that costs could be cut by having a common design on both sides of these coins, rather than minting numerous different designs.
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Euro coins were designed in cooperation with organisations representing blind
persons, and as a result they incorporate many features allowing them to be distinguished by touch alone. In addition, their visual appearance is designed to make them easy to tell apart for persons who cannot read the inscriptions on the coins.
The coins increase in size and weight with value. Of the eight denominations of euro coins, the three lowest denominations are small, resemble copper in colour and are quite thin and light. The next three denominations resemble gold in colour and are thicker as well as heavier. The highest two denominations are bimetallic, being generally larger and thicker than the lower denominations.
In general, the greater the value, the heavier and larger the coin. Copper colour identifies low value; gold colour identifies medium value; two different metals identify high value.
Although there have been other currencies predating the euro that were specifically designed in similar ways (different sizes, colours, and ridges) to aid the visually impaired, the introduction of the euro constitutes the first time that authorities have consulted associations representing the blind and visually impaired before the release of a currency.
Seized coins from circulation (totals):
The European Technical and Scientific Centre estimates that up to two million counterfeit coins were put into circulation in 2002.
Recent investigations by the European Commission have shown that the level of sophistication in the counterfeits is increasing, making prompt detection even more difficult. In 2008, Irish MEP
Eoin Ryan called for tighter regulation over tokens and medals that are being increasingly used for small purchases mainly in vending machines across Europe.
each year. Only €2 coins may be used in this way (for them to be legal tender) and there is a limit on the number that can be issued. The coin must show the normal design criteria, such as the twelve stars, the year and the issuing country.
Greece was the first country to issue a commemorative coin, and was followed by all but Cyprus, Estonia and Ireland. However, in 2007 every eurozone state participated in the Treaty of Rome
programme, where all member states issued a coin of similar design to commemorate the signing of the Treaty of Rome, the only difference being the name of the issuing country and the language of the text.
This was repeated in 2009 in commemoration of the 10th anniversary of the introduction of the euro
. The design was selected by electronic voting by EU citizens.
In 2006, Germany began issuing a series of coins, the German Bundesländer series, showing each of the states of Germany
on its coins; this will last until 2021.
Spain
started a commemorative coin series (UNESCO World Heritage) in 2010, commemorating all of Spain's UNESCO World Heritage Sites
, which could continue until 2050. The order in which the coin for a specific site is issued coincides with the order in which they were declared a UNESCO World Heritage site.
Malta will issue a series of five €2 commemorative coins, all related to the Maltese constitutional history. The first coin will be released in 2011 and the last coin will be minted in 2015.
throughout the eurozone, but only in the country where they are issued. For instance, a €10 Finnish
commemorative coin cannot be used in Portugal
.
However, these gold coins are intended for collectors as their bullion value vastly exceeds their face value. Some silver coins, such as the German €10 commemoratives, are often available at banks and some retailers at face value. These coins, however, generally do not circulate but are kept by collectors.
It is uncertain whether the Council of Ministers
will grant them legal tender status elsewhere outside national boundaries, as San Marino
, Monaco
, and the Vatican City
also issue these kind of coins.
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
coin denominations, ranging from one cent to two euros (the euro is divided into a hundred cents). The coins first came into use in 2002. They have a common reverse
Obverse and reverse
Obverse and its opposite, reverse, refer to the two flat faces of coins and some other two-sided objects, including paper money, flags , seals, medals, drawings, old master prints and other works of art, and printed fabrics. In this usage, obverse means the front face of the object and reverse...
, portraying a map of Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
, but each country in the eurozone
Eurozone
The eurozone , officially called the euro area, is an economic and monetary union of seventeen European Union member states that have adopted the euro as their common currency and sole legal tender...
has its own design on the obverse
Obverse and reverse
Obverse and its opposite, reverse, refer to the two flat faces of coins and some other two-sided objects, including paper money, flags , seals, medals, drawings, old master prints and other works of art, and printed fabrics. In this usage, obverse means the front face of the object and reverse...
, which means that each coin has a variety of different designs in circulation at once. Three European microstates
European microstates
The European microstates or ministates are a set of very small states in Europe. While Andorra, Liechtenstein, Malta, Monaco, San Marino, and Vatican City are usually included, Luxembourg and Cyprus share certain features as well...
which use the euro as their currency also have the right to mint coins with their own designs on the obverse side.
The coins, and various commemorative coins
€2 commemorative coins
€2 commemorative coins are special euro coins minted and issued by member states of the eurozone since 2004 as legal tender in all eurozone member states. The coins typically commemorate the anniversaries of historical events or draw attention to current events of special importance...
, are minted at numerous national mints across the European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
to strict national quotas. Obverse designs are chosen nationally, while the reverse and the currency as a whole is managed by the European Central Bank
European Central Bank
The European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...
(ECB).
Common side
All coins have a common reverseObverse and reverse
Obverse and its opposite, reverse, refer to the two flat faces of coins and some other two-sided objects, including paper money, flags , seals, medals, drawings, old master prints and other works of art, and printed fabrics. In this usage, obverse means the front face of the object and reverse...
side showing how much the coin is worth, with a design by Belgian
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
designer Luc Luycx
Luc Luycx
Luc Luycx is the designer of the common side of the euro coins.Luycx is a computer engineer living in Dendermonde, Belgium and has worked for the Royal Belgian Mint for 15 years. He designed the euro coins in 1996.His signature on all euro coins is visible as two L letters connected together...
. The design of the 1-, 2-, and 5-cent coins symbolises Europe's place in the world as a whole.
Current design
In 2007, a new design was introduced to reflect the enlargement in 2004. The design still retains all elements of the original designs, including the twelve stars, however the map of the fifteen states is replaced by one showing the whole of Europe as a continent, without borders. The vertical ridges only appear over the sea.Cyprus
Cyprus
Cyprus , officially the Republic of Cyprus , is a Eurasian island country, member of the European Union, in the Eastern Mediterranean, east of Greece, south of Turkey, west of Syria and north of Egypt. It is the third largest island in the Mediterranean Sea.The earliest known human activity on the...
is shown several hundred kilometres north west of its real position in order to include it on the map. On the €1 and €2 coins, the island is shown to be directly east of mainland Greece
Greece
Greece , officially the Hellenic Republic , and historically Hellas or the Republic of Greece in English, is a country in southeastern Europe....
; on the 10-, 20-, and 50-cent coins, it appears directly below Crete
Crete
Crete is the largest and most populous of the Greek islands, the fifth largest island in the Mediterranean Sea, and one of the thirteen administrative regions of Greece. It forms a significant part of the economy and cultural heritage of Greece while retaining its own local cultural traits...
. The original proposal from the European Commission
European Commission
The European Commission is the executive body of the European Union. The body is responsible for proposing legislation, implementing decisions, upholding the Union's treaties and the general day-to-day running of the Union....
was to include Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
on the map; however this design was rejected by the Council
Council of the European Union
The Council of the European Union is the institution in the legislature of the European Union representing the executives of member states, the other legislative body being the European Parliament. The Council is composed of twenty-seven national ministers...
.
The first issue of these coins were minted in 2006, by the Mint of Finland, for the Slovenian euro coins
Slovenian euro coins
Slovenian euro coins were first issued for circulation on 1 January 2007 and a unique feature is designed for each coin. The design of approximately 230 million Slovenian euro coins was unveiled on 7 October 2005. The designers were Miljenko Licul, Maja Licul and Janez Boljka...
. These coins came into circulation in 2007 and have been compulsory for existing members since 2008. The one-, two-, and five-cent coins remained unchanged, with the Commission stating that they remained unaffected as they show Europe's place in the world, even though the EU 15 are still highlighted on the map. It is unknown how soon Iceland
Iceland
Iceland , described as the Republic of Iceland, is a Nordic and European island country in the North Atlantic Ocean, on the Mid-Atlantic Ridge. Iceland also refers to the main island of the country, which contains almost all the population and almost all the land area. The country has a population...
would be added to the map if it becomes an EU member in the next few years.
1999–2006 design
The original designs of the 10-, 20-, and 50-cent coins showed the outline of each of the EU-15 member states. This meant that each state was shown as separate from the others, thus giving Europe the appearance of an archipelago. EU member states outside the eurozone (the United KingdomUnited Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
, Sweden
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....
, and Denmark
Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
) were also depicted. Non-EU states were not depicted, for example giving the impression that Sweden
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....
had a large west coast (as Norway was not on the map).
On the €1 and €2 coins, the landmass appeared more cohesive although borders were indicated. The vertical ridges also passed through some non-participating countries. As in current issues, all coins featured 12 stars in their design.
The year featured in the coins can date back to 1999, when the currency was formally established (only Belgian
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
, Finnish
Finland
Finland , officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe. It is bordered by Sweden in the west, Norway in the north and Russia in the east, while Estonia lies to its south across the Gulf of Finland.Around 5.4 million people reside...
, French
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
, Dutch
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
, and Spanish
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
coins have 1999). These countries traditionally stamp the coin with the year of being minted rather than the year of being put into circulation.
National sides
The obverseObverse and reverse
Obverse and its opposite, reverse, refer to the two flat faces of coins and some other two-sided objects, including paper money, flags , seals, medals, drawings, old master prints and other works of art, and printed fabrics. In this usage, obverse means the front face of the object and reverse...
side varies from state to state, with each member allowed to choose its own design. Each of the eight coins can have the same design (such as Belgian coins
Belgian euro coins
Belgian euro coins feature only a single design for all eight coins: the portrait or effigy of King Albert II of the Belgians and his royal monogram...
), or can vary from coin to coin (such as Italian coins
Italian euro coins
Italian euro coins have a design unique to each denomination, though there is a common theme of famous Italian works of art from one of Italy's renowned artists...
). In monarchies, the national side usually features a portrait of the country's monarch, often in a design carried over from the former currency (e.g. Belgium). Republics tend to feature national monuments, symbols, or stylised designs (such as French coins
French euro coins
French euro coins feature three separate designs for the three series of coins. The minor series was designed by Fabienne Courtiade, the middle one by Laurent Jorio and the major two coins are by Joaquin Jimenez...
). Engravings on the edge of the €2 coin are also subject to national choice.
There are, however, some restrictions on the design: it must include twelve stars, the engraver's initials, and the year of issue. New issues must also include the name of the issuing country (a rule currently breached by Germany
German euro coins
German euro coins have three separate designs for the three series of coins. The 1, 2 and 5 cent coins were designed by Rolf Lederbogen, the design for the 10, 20 and 50 cent coins is by Reinhard Heinsdorff and the 1 and 2 euro coins were done by Heinz Hoyer and Sneschana Russewa-Hoyer...
and Greece
Greek euro coins
Greek euro coins feature a unique design for each of the eight coins. They were all designed by Georgios Stamatopoulos with the minor coins depicting Greek ships, the middle ones portraying famous Greeks and the two large denominations showing images of Greek history and mythology. All designs...
, while Belgium
Belgian euro coins
Belgian euro coins feature only a single design for all eight coins: the portrait or effigy of King Albert II of the Belgians and his royal monogram...
, France
French euro coins
French euro coins feature three separate designs for the three series of coins. The minor series was designed by Fabienne Courtiade, the middle one by Laurent Jorio and the major two coins are by Joaquin Jimenez...
and Italy
Italian euro coins
Italian euro coins have a design unique to each denomination, though there is a common theme of famous Italian works of art from one of Italy's renowned artists...
use an abbreviation rather than the full name). It may not repeat the denomination of the coin or the word euro unless it is in a different alphabet (such as on Greek coins
Greek euro coins
Greek euro coins feature a unique design for each of the eight coins. They were all designed by Georgios Stamatopoulos with the minor coins depicting Greek ships, the middle ones portraying famous Greeks and the two large denominations showing images of Greek history and mythology. All designs...
). This rule is flouted by Austria
Austrian euro coins
Austrian euro coins have a unique design for each denomination, with a common theme for each of the three series of coins. The minor coins feature Austrian flowers, the middle coins examples of architecture from Austria's capital, Vienna, and the two major coins famous Austrians...
. The national side was also to remain unchanged until the end of 2008, unless a monarch depicted on a coin died or abdicated (such as in the case of the Vatican's coins
Vatican euro coins
Vatican euro coins are issued by the Philatelic and Numismatic Office of the Vatican City State and minted by Istituto Poligrafico e Zecca dello Stato , in Rome, Italy...
).
There are at present no plans to abolish the national designs in favour of a common European one. However the Commission has proposed that the one-, two-, and five-cent coins have a common design to keep costs down.
Though they are not members of the EU, Monaco
Monaco
Monaco , officially the Principality of Monaco , is a sovereign city state on the French Riviera. It is bordered on three sides by its neighbour, France, and its centre is about from Italy. Its area is with a population of 35,986 as of 2011 and is the most densely populated country in the...
, San Marino
San Marino
San Marino, officially the Republic of San Marino , is a state situated on the Italian Peninsula on the eastern side of the Apennine Mountains. It is an enclave surrounded by Italy. Its size is just over with an estimated population of over 30,000. Its capital is the City of San Marino...
, and the Vatican City
Vatican City
Vatican City , or Vatican City State, in Italian officially Stato della Città del Vaticano , which translates literally as State of the City of the Vatican, is a landlocked sovereign city-state whose territory consists of a walled enclave within the city of Rome, Italy. It has an area of...
also have euro coins featuring a national side, but these coins are not put into general circulation by the authorities who instead sell them to collectors for prices higher than their face value. Andorra
Andorra
Andorra , officially the Principality of Andorra , also called the Principality of the Valleys of Andorra, , is a small landlocked country in southwestern Europe, located in the eastern Pyrenees mountains and bordered by Spain and France. It is the sixth smallest nation in Europe having an area of...
has reached an agreement with the EU to mint its own coin design, probably from 2013, but subject to ratification by the Andorran Parliament.
Future changes to national sides
"The national sides of all denominations of the euro circulation coins should bear an indication of the issuing Member State by means of the Member State’s name or an abbreviation of it.""The national side should not repeat any indication on the denomination, or any parts thereof, of the coin neither should it repeat the name of the single currency or of its subdivision, unless such indication stems from the use of a different alphabet."
"This Recommendation should apply to national sides and edge letterings of both normal and commemorative euro circulation coins. It should not apply to the national sides and edge letterings of both normal and commemorative euro circulation coins which have been first issued prior to the adoption of this Recommendation."
The above paragraphs, from a European Commission Recommendation of 19 December 2008, in essence, exhorted five eurozone members to change their national designs. Finland was the first state to do so, in 2007, Belgium did so in 2008 while Austria or Germany will not change their current designs for the time being. Greece is still pending.
Small-denomination coins
The one- and two-cent coins were initially introduced in order to ensure that the introduction of the euro was not used as an excuse by retailers to heavily round up prices. However, due to the cost of maintaining a circulation of low value coins, by business and the mints, FinlandFinland
Finland , officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe. It is bordered by Sweden in the west, Norway in the north and Russia in the east, while Estonia lies to its south across the Gulf of Finland.Around 5.4 million people reside...
and the Netherlands
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
round prices to the nearest five cents (Swedish rounding
Swedish rounding
Swedish rounding is rounding the basic cost of a purchase which is to be paid for in cash to the nearest multiple of the smallest denomination of currency...
) if paying with cash, while producing only a handful of those coins for collectors, rather than general circulation. The coins are still legal tender and produced outside these states. Despite this, many shops in the Netherlands refuse to accept them.
The Swedish rounding
Swedish rounding
Swedish rounding is rounding the basic cost of a purchase which is to be paid for in cash to the nearest multiple of the smallest denomination of currency...
law in Finland was issued in January 2002 and thus before the coins were put into circulation. The Netherlands followed suit in September 2004, with Belgium
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
making moves to follow in 2005. The Netherlands did so under pressure from retail businesses, which claimed that dealing with 1- and 2-cent coins was too expensive. After a successful experiment in the little town of Woerden
Woerden
Woerden is a municipality and a city in the central Netherlands. Due to its central location between Amsterdam, Rotterdam, The Hague and Utrecht, and the fact that it has excellent rail and road connections to those cities, it is a popular town for commuters who work in those cities.-Population...
in May 2004, retailers in the whole of the Netherlands
Netherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
have been permitted to round cash transactions to the nearest five-cent since September 2004.
This is in part due to factors such as rising metal prices: De Nederlandsche Bank
De Nederlandsche Bank
De Nederlandsche Bank is the central bank of the Netherlands. It is part of the European System of Central Banks .-History:...
calculated it would save $36 million a year by not using the smaller coins. Other countries such as Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
favoured retaining the coins due to their desire for €1.99 prices, which appear more attractive to the consumer than a €2 price. This is echoed by the European Central Bank
European Central Bank
The European Central Bank is the institution of the European Union that administers the monetary policy of the 17 EU Eurozone member states. It is thus one of the world's most important central banks. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt,...
itself which supports the coins, stating it allows businesses to calculate prices more exactly to attract consumers, such as 99 cents. According to a Eurobarometer
Eurobarometer
Eurobarometer is a series of surveys regularly performed on behalf of the European Commission since 1973. It produces reports of public opinion of certain issues relating to the European Union across the member states...
survey of EU citizens, Germans are most sceptical about the removal of the one- and two-cent coins from complete circulation in the eurozone, however on average there is a majority for their removal (58% for the one cent coin and 52% for the two cent coin in 2005). The Belgians are most supportive of their removal.
The 1-, 2-, and 5-cent coins account for approximately 80% of all new coins minted in the eurozone. Due to the expense of producing such low value coinage, the Commission with some member states have proposed that costs could be cut by having a common design on both sides of these coins, rather than minting numerous different designs.
Features for persons with impaired sight
Blindness
Blindness is the condition of lacking visual perception due to physiological or neurological factors.Various scales have been developed to describe the extent of vision loss and define blindness...
persons, and as a result they incorporate many features allowing them to be distinguished by touch alone. In addition, their visual appearance is designed to make them easy to tell apart for persons who cannot read the inscriptions on the coins.
The coins increase in size and weight with value. Of the eight denominations of euro coins, the three lowest denominations are small, resemble copper in colour and are quite thin and light. The next three denominations resemble gold in colour and are thicker as well as heavier. The highest two denominations are bimetallic, being generally larger and thicker than the lower denominations.
In general, the greater the value, the heavier and larger the coin. Copper colour identifies low value; gold colour identifies medium value; two different metals identify high value.
- The €0.01 is the smallest of all coins, and size is probably the best description. Its diameter is about the size of the thumb-nail of an average adult. The edge of the coin is smooth and it is copper in colour.
- The €0.02 is slightly larger than the one-cent coin and is of the same copper colour. A distinctive groove runs circumferentially around its edge, easily felt by a finger; the groove gives the visual and tactile impression that it consists of two coins pressed into one, though this is not the case.
- The €0.05 is the largest of the copper coins, but is only slightly larger than the two-cent coin. It has a smooth edge.
- The €0.10 is gold in colour. It is very slightly smaller than the five-cent piece, but is much thicker, and has a coarse serration around the edge. It is heavier than any of the copper coins.
- The €0.20 is larger than the ten-cent coin and is also gold in colour. It has a unique group of seven notches (forming a spanish flowerSpanish flowerThe Spanish flower is a type of coin edging. It consists of a smooth edge separated into equal sections by seven indents.-Origin:The 50 Spanish peseta coin issued between 1990 and 2000 were the first that featured the Spanish flower....
shape) around its otherwise smooth edge, making it easy to recognise by touch. - The €0.50 is also gold in colour and is noticeably thicker, heavier, and larger than the coins of smaller denominations; it also has a coarsely serrated edge.
- The €1 has a silver-coloured interior and a gold-coloured perimeter. The edge is distinctively marked with alternating smooth and finely serrated sections. It is of about the same thickness and weight as the fifty-cent piece, but its edge markings readily distinguish it from that coin.
- The €2 is of the same colours as the one-euro coin, but they are reversed: the perimeter is silver coloured whilst the interior is gold coloured. It has the largest diameter of any euro coin. Its edge has a fine, continuous serration which is embossed with stars and letters differing between nations. Whilst this is difficult to detect by touch, this may not be necessary in order to distinguish it from other coins, given its size.
Although there have been other currencies predating the euro that were specifically designed in similar ways (different sizes, colours, and ridges) to aid the visually impaired, the introduction of the euro constitutes the first time that authorities have consulted associations representing the blind and visually impaired before the release of a currency.
Counterfeit coins
Approximately 100,000 counterfeit euro coins are taken from circulation annually, and a similar number is seized before it can be released. Given a total circulation of 56 billion coins, counterfeit coins are relatively rare. About half the counterfeits feature the German national design, but counterfeits have been detected for every issuing country. The great majority of counterfeit coins are €2 (87% in 2004), with most of the rest being €1, and a few 50-cent coins.Seized coins from circulation (totals):
- 2010 – 186 000
- 2009 – 172,100
- 2008 – 195,900
- 2007 – 211,100
- 2006 – 163,800
- 2005 – 100,500
- 2004 – 75,564
- 2003 – 26,339
The European Technical and Scientific Centre estimates that up to two million counterfeit coins were put into circulation in 2002.
Recent investigations by the European Commission have shown that the level of sophistication in the counterfeits is increasing, making prompt detection even more difficult. In 2008, Irish MEP
Member of the European Parliament
A Member of the European Parliament is a person who has been elected to the European Parliament. The name of MEPs differ in different languages, with terms such as europarliamentarian or eurodeputy being common in Romance language-speaking areas.When the European Parliament was first established,...
Eoin Ryan called for tighter regulation over tokens and medals that are being increasingly used for small purchases mainly in vending machines across Europe.
Commemorative issues
Each state allowed to issue coins may also mint one commemorative coinCommemorative coin
Commemorative coins are coins that were issued to commemorate some particular event or issue. Most world commemorative coins were issued from the 1960s onward, although there are numerous examples of commemorative coins of earlier date. Such coins have a distinct design with reference to the...
each year. Only €2 coins may be used in this way (for them to be legal tender) and there is a limit on the number that can be issued. The coin must show the normal design criteria, such as the twelve stars, the year and the issuing country.
Greece was the first country to issue a commemorative coin, and was followed by all but Cyprus, Estonia and Ireland. However, in 2007 every eurozone state participated in the Treaty of Rome
Treaty of Rome
The Treaty of Rome, officially the Treaty establishing the European Economic Community, was an international agreement that led to the founding of the European Economic Community on 1 January 1958. It was signed on 25 March 1957 by Belgium, France, Italy, Luxembourg, the Netherlands and West Germany...
programme, where all member states issued a coin of similar design to commemorate the signing of the Treaty of Rome, the only difference being the name of the issuing country and the language of the text.
This was repeated in 2009 in commemoration of the 10th anniversary of the introduction of the euro
Introduction of the euro
The euro came into existence on 1 January 1999, although it has been a goal of the European Union and its predecessors since the 1960s. After tough negotiations, particularly due to opposition from the United Kingdom, the Maastricht Treaty entered into force in 1993 with the goal of creating...
. The design was selected by electronic voting by EU citizens.
In 2006, Germany began issuing a series of coins, the German Bundesländer series, showing each of the states of Germany
States of Germany
Germany is made up of sixteen which are partly sovereign constituent states of the Federal Republic of Germany. Land literally translates as "country", and constitutionally speaking, they are constituent countries...
on its coins; this will last until 2021.
Spain
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
started a commemorative coin series (UNESCO World Heritage) in 2010, commemorating all of Spain's UNESCO World Heritage Sites
UNESCO World Heritage Sites in Spain
The United Nations Educational, Scientific and Cultural Organization World Heritage Sites are places of importance to cultural or natural heritage as described in the UNESCO World Heritage Convention, established in 1972...
, which could continue until 2050. The order in which the coin for a specific site is issued coincides with the order in which they were declared a UNESCO World Heritage site.
Malta will issue a series of five €2 commemorative coins, all related to the Maltese constitutional history. The first coin will be released in 2011 and the last coin will be minted in 2015.
Gold and silver commemorative issues
A legacy of old national practice is the minting of silver and gold commemorative coins. Unlike normal issues, these coins are not legal tenderLegal tender
Legal tender is a medium of payment allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Paper currency is a common form of legal tender in many countries....
throughout the eurozone, but only in the country where they are issued. For instance, a €10 Finnish
Finland
Finland , officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe. It is bordered by Sweden in the west, Norway in the north and Russia in the east, while Estonia lies to its south across the Gulf of Finland.Around 5.4 million people reside...
commemorative coin cannot be used in Portugal
Portugal
Portugal , officially the Portuguese Republic is a country situated in southwestern Europe on the Iberian Peninsula. Portugal is the westernmost country of Europe, and is bordered by the Atlantic Ocean to the West and South and by Spain to the North and East. The Atlantic archipelagos of the...
.
However, these gold coins are intended for collectors as their bullion value vastly exceeds their face value. Some silver coins, such as the German €10 commemoratives, are often available at banks and some retailers at face value. These coins, however, generally do not circulate but are kept by collectors.
It is uncertain whether the Council of Ministers
Council of the European Union
The Council of the European Union is the institution in the legislature of the European Union representing the executives of member states, the other legislative body being the European Parliament. The Council is composed of twenty-seven national ministers...
will grant them legal tender status elsewhere outside national boundaries, as San Marino
San Marino
San Marino, officially the Republic of San Marino , is a state situated on the Italian Peninsula on the eastern side of the Apennine Mountains. It is an enclave surrounded by Italy. Its size is just over with an estimated population of over 30,000. Its capital is the City of San Marino...
, Monaco
Monaco
Monaco , officially the Principality of Monaco , is a sovereign city state on the French Riviera. It is bordered on three sides by its neighbour, France, and its centre is about from Italy. Its area is with a population of 35,986 as of 2011 and is the most densely populated country in the...
, and the Vatican City
Vatican City
Vatican City , or Vatican City State, in Italian officially Stato della Città del Vaticano , which translates literally as State of the City of the Vatican, is a landlocked sovereign city-state whose territory consists of a walled enclave within the city of Rome, Italy. It has an area of...
also issue these kind of coins.