Thu, Feb 09 2012

INSIGHT: The coins

Fri, Jul 04 2008 11:00 CET 1448 Views
INSIGHT: The coins

The euro became the common currency of more than 300 million Europeans on January 1 1999. Euro banknotes and coins first entered circulation on January 1 2002. They replaced national currencies like the French franc and the German mark.

All euro coin series comprise eight different values (denominations): 1, 2, 5, 10, 20 and 50 cent, one euro and two euro.

Currently, all euro coins have a common side showing the integrity of the union and a national side underlining the uniqueness of each nation through respective symbols,  surrounded by 12 stars of the EU. Monaco, the Vatican and San Marino, each having their currency agreements, are also given the right to issue their own euro coins.

15 EU states currently use the euro as their currency: Belgium, Germany, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, The Netherlands, Austria, Portugal, Slovenia and Finland. Bulgaria, The Czech Republic, Denmark, Estonia, Latvia, Lithuania, Hungary, Poland, Romania, Slovakia, Sweden and the UK are the EU members currently outside the single European currency.

The original 1996 design of the coins used to show the image of each of the former 15-EU member states. A new design was introduced in 2007 to reflect the wave of enlargement from 2004. It kept the 12 stars from the original design but the common side was made to depict Europe as a whole continent. It was designed by Luc Luycx of the Royal Belgian Mint and shows images of the EU or of Europe.

Member states are allowed to select the image they want to put on their euro coins. This led to a number of representative of each nation. Italy, for example, has a different design on all its coins. Belgian coins, on the other hand, have the same design. Some have preserved elements of their former currencies. For example, monarchies have adhered to royal themes on their coins whereas republics have national symbols, monuments or stylised designs. This will be Bulgaria's case once the country joins the Eurozone and adopts the new currency.

Belgium

The coin depicts King Albert II and a monogram - a capital "A" underneath a crown among 12 stars, symbolising Europe. A national panel composed of leading Belgian officials, artists and experts in numismatics chose the symbol used on all Belgium coins.

Germany

The eagle, traditional symbol of German sovereignty, surrounded by the stars of Europe, appears on German two euro coins. It was designed by Heinz and Sneschana Russewa-Hoyer with the later being Bulgarian.

Ireland

Like Belgium, Ireland decided to have a single national design for all its euro coins. It shows the Celtic harp, a traditional symbol of Ireland, decorated with the year of issue and the inscription "Eire", the Irish word for Ireland. 

Greece

This coin depicts a scene from a mosaic in Sparta, showing Europa being abducted by Zeus, who has taken the form of a bull.

Spain

Spanish euro coins depict a portrait of King Juan Carlos I de Borbon y Borbon.

France

A tree, drawn by the artist Joaquim Jimenez, appears on French two-euro coins. It symbolises life, continuity and growth. It is contained in a hexagon encircled by the Republic's motto, "Liberte, Egalite, Fraternite".

Italy

Depicted on the coin is a portrait drawn by Raphael of Dante Alighieri, housed in the Pope Julius II Wing of the Vatican City Palace.

Luxembourg

All the Luxembourg coins bear the profile of His Royal Highness Grand Duke Henri. They also bear the year of issue and the word "Luxembourg" written in Luxembourgish (Letzebuerg).


The Netherlands

The Dutch coins depict Queen Beatrix in profile with the inscription "Beatrix Queen of The Netherlands" in Dutch. The 12 stars of Europe are confined to half the circumference of the coin.

Austria

This coin bears a portrait of the pacifist Bertha von Suttner, a symbol of Austria's efforts over many decades to support peace.


Portugal

The country's castles and coats of arms set amid the European stars symbolise dialogue, an exchange of values and the dynamics of the building of Europe. The centrepiece is the royal seal of 1144.


Slovenia

Slovenia's coin shows the poet France Preseren and the line "God's blessing on all nations" from his poem "Zdravljica" which is also used in the country's national anthem.  

Finland

The symbol on the coin comprises cloudberries and cloudberry flowers in a design by Raimo Heino.

Monaco

The coin shows a portrait of Prince Albert II.

San Marino

The Government building (Palazzo Pubblico) is shown on this coin.

The Vatican

The third series, issued in April 2006, shows Pope Benedict XVI.

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