Europe Infomation and FAQ
EURO INTRODUCTION SCHEDULE -
AN UPDATE ON PLANNED AND EXPECTED DATES
As of January 1, 2010 there are 16 countries in the European Union that use Euro coins and banknotes as their official currency. These member states are:
Belgium
Germany
Ireland
Greece
Spain
France
Italy
Cyprus
Luxembourg
Malta
The Netherlands
Austria
Portugal
Slovenia
Finland
Slovakia
There are 11 other EU member states that currently do not use the Euro in their official legal currency. Of those 11, 8 countries do have plans to adopt the Euro in the future. Here is an unofficial timetable for the those member states. Generally, delays in planned introductions are due to difficulties in meeting the economic criteria set out by the ECB (European Central Bank).
Estonia
Confirmed: January 1, 2011
Lithuania
Planned: 2013
Latvia
Planned: 2013
Bulgaria
Planned: 2013
Romania
Planned: 2015
Hungary
Planned: 2014
Poland
Planned: 2015
Czech Republic
Planned: 2019
As a service to its customers, Euro Collections International has issued this series of questions and answers frequently asked by coin and banknote collectors. The information was accurate at the time this document was prepared (January 2009), but changes are inevitable.
1. What is the Euro?
The Euro is the currency created by the original 15 member states of the European Union (EU). The number of member states has since increased to 27 with the Euro being used in 16 of these countries. The currency was first put into full circulation in 2002.
2. Which are the 16 Member States participating in the Euro?
Austria, Belgium, Germany, Greece, Finland, France, Ireland, Italy, Luxembourg, Netherlands, Spain, Portugal, Slovenia, Malta, Cyprus and Slovakia.
3. Which European countries have not adopted the Euro?
There are currently 11 member states of the EU that do not use the Euro. Of those only 8 have plans to join the eurozone, with Denmark, Sweden and The United Kingdom all choosing to stay with their respective currencies for the forseeable future. The 8 countries with plans to adopt the Euro are Estonia, Lithuania, Latvia, Romania, Poland, Czech Republic, Bulgaria and Hungary. Estonia is confirmed to adopt the euro as of January 1, 2011
4. Where is the Euro being used?
All currency transactions within the 16 member states are expressed in euros. In European countries that are not currently using the euro the respective national currency is used and often the equivalent expressed in euros as well.
5. When did banknotes and coins denominated in Euros first start to be used?
The first official legal tender Euros, collector and circulating, paper and coins began to circulate on January 2002.
6. Of the nations now using Euros, what was the last year of issue for their original currency collector coin sets?
Country Year
Austria 2001
Belgium 2001
Germany 2001
Greece 2000
Finland 2001
France 2001
Ireland 2000
Italy 2001
Luxembourg 1995
Netherlands 2001
Spain 2001
Portugal 2001
Slovenia 2006
Malta 2007
Cyprus 2007
Slovakia 2008
Estonia 2010
7. What happened to the national coins and banknotes from each Member State as the Euro currency is physically put into circulation?
During the first six months, as the new Euros are entering circulation, the national currencies are withdrawn from circulation during the normal course of business. Each Member State has different exchange policies and different authorities accepting the returned pieces. Austria, for example, decided to take back schillings in perpetuity through the national banking system. Other member states have restricted this time.
8. What do the Euro coins look like?
Each denomination of Euro coinage, regardless of the country of minting and issue, will have a common obverse design, i.e. a map of Europe with a graphic representation of the European stars, along with the coins denomination. These three elements will be depicted on the European side of each coin, but will differ in size and location according to the face value of the respective coin.
The other side, or reverse, of each coin has a representation from the Member State that struck and issued the coin.These are often decided through national competitions.
Regardless of which Member State minted the coin, these coins circulate freely throughout all 16 Member States using the Euro currency.
9. Are the collector Euros any different from the circulating coins, and if so, in what way?
Most Euro-issuing countries will have limited edition commemorative coins denominated in Euros, but different from the circulating coins. The legal tender acceptance of these commemorative coins will be similar to the pre-Euro issues.
10. How do collectors get their Euro coins?
Euro Collections International handles the coins of most European countries and is a market leader in this regard, having the largest stock of European coins outside of Europe itself! ECI handles the Euro coins of all the issuing countries. Collectors may telephone ECI at 1-877-897-7696, send a fax to 1-866-875-2577 or an e-mail to orders@eurocollections.com.
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