The euro is the official currency of 20 of the 27 member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 344 million citizens as of 2023. The euro is divided into 100 cents.
The standard circulating coinage of the United Kingdom, British Crown Dependencies and British Overseas Territories is denominated in pennies and pounds sterling, and ranges in value from one penny sterling to two pounds. Since decimalisation, on 15 February 1971, the pound has been divided into 100 (new) pence. Before decimalisation, twelve pence made a shilling, and twenty shillings made a pound.
There are eight euro coin denominations, ranging from one cent to two euros. 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. Four European microstates that are not members of the European Union use the euro as their currency and also have the right to mint coins with their own designs on the obverse side.
Dutch euro coins currently use two designs by Erwin Olaf, both of which feature a portrait of King Willem-Alexander of the Netherlands. The new designs began circulating in 2014. Dutch Euro coins minted from 1999 to 2013 feature a portrait of Queen Beatrix designed by Bruno Ninaber van Eyben. All coins share the 12 stars of the EU and the year of imprint in their design.
Finnish euro coins feature three designs. Heikki Häiväoja provided the design for the 1 cent – 50 cent coins, Pertti Mäkinen provided the design for the 1 euro coin, and Raimo Heino provided the design for the 2 euro coin, which shows cloudberry, the golden berry of northern Finland. All designs feature the 12 stars of the EU and the year of imprint.
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt.
The European Union has a number of relationships with foreign states. According to the European Union's official site, and a statement by Commissioner Günter Verheugen, the aim is to have a ring of countries, sharing EU's democratic ideals and joining them in further integration without necessarily becoming full member states.
The Luxembourg franc (F or ISO LUF, Luxembourgish: Frang), subdivided into 100 centimes, was the currency of Luxembourg between 1854 and 2002, except from 1941 to 1944. From 1944 to 2002, its value was equal to that of the Belgian franc. The franc remained in circulation until 2002, when it was replaced by the euro. From 1999 to 2002, the franc was officially a subdivision of the euro (€1 = 40.3399F), but the euro did not circulate in physical form before 1 January 2002. Under the principle of "no obligation and no prohibition", financial transactions could be conducted in euros and francs, but physical payments could be made only in francs, as euro notes and coins were not available yet.
The pound is the currency of the Isle of Man, at parity with sterling. The Manx pound is divided into 100 pence. Notes and coins, denominated in pounds and pence, are issued by the Isle of Man Government.
€2 commemorative coins are special euro coins that have been minted and issued by member states of the eurozone since 2004 as legal tender in all eurozone member states.
The 2 euro coin (€2) is the highest-value euro coin and has been used since the introduction of the euro in 2002. The coin is used in 22 countries with a collective population of about 341 million. The coin is made of two alloys: the inner part of nickel brass, the outer part of copper-nickel. All coins have a common reverse side and country-specific national sides. The coin has been used since 2002, with the present common side design dating from 2007.
Gold and silver issues of the euro commemorative coins are collectors' euro coins not primarily intended for general circulation; the commemoratives also include rare cases of bimetal collector coins, such as titanium and niobium.
Euro gold and silver commemorative coins are special euro coins minted and issued by member states of the Eurozone, mainly in gold and silver, although other precious metals are also used in rare occasions. Belgium was one of the first twelve countries in the Eurozone that introduced the euro (€) on 1 January 2002. Since then, the Belgian Royal Mint have been minting both normal issues of Belgian euro coins, which are intended for circulation, and commemorative euro coins in gold and silver.
Euro gold and silver commemorative coins are special euro coins minted and issued by member states of the Eurozone, mainly in gold and silver, although other precious metals are also used in rare occasions. Finland was one of the first twelve countries in the Eurozone that introduced the euro (€) on 1 January 2002. Since then, the Mint of Finland Ltd. have been minting both normal issues of Finnish euro coins, which are intended for circulation, and commemorative euro coins in gold and silver.
Euro gold and silver commemorative coins are special euro coins minted and issued by member states of the Eurozone, mainly in gold and silver, although other metals are also used on rare occasions. Malta introduced the euro (€) on 1 January 2008. In a short time, the Central Bank of Malta has been producing both normal issues of Maltese euro coins, which are intended for circulation, and commemorative euro coins in gold and silver.
Euro gold and silver commemorative coins are special euro coins minted and issued by member states of the Eurozone, mainly in gold and silver, although other precious metals are also used in rare occasions. Slovenia introduced the euro (€) on 1 January 2007. Since then, the Bank of Slovenia have been issuing both normal issues of Slovenian euro coins, which are intended for circulation, and commemorative euro coins in gold and silver.
Euro gold and silver commemorative coins are special euro coins minted and issued by member states of the Eurozone, mainly in gold and silver, although other precious metals are also used on rare occasions. Slovakia is scheduled to introduced the euro (€) on 1 January 2009. The National Bank of Slovakia, together with the Kremnica Mint, will be issuing both normal issues of Slovak euro coins, which are intended for circulation, and commemorative euro coins in gold and silver. These special coins have a legal tender only in Slovakia, unlike the normal issues of the Slovak euro coins, which have a legal tender in every country of the Eurozone. This means that the commemorative coins made of gold and silver cannot be used as money in other countries. Furthermore, as their bullion value generally vastly exceeds their face value, these coins are not intended to be used as means of payment at all—although it remains possible. For this reason, they are usually named Collectors' coins.
Euro gold and silver commemorative coins are special euro coins minted and issued by member states of the Eurozone, mainly in gold and silver, although other precious metals are also used in rare occasions. Greece was one of the first twelve countries in the Eurozone that introduced the euro (€) on 1 January 2002. Since 2003, the Mint of Greece have been minting both normal issues of Greek euro coins, which are intended for circulation, and commemorative euro coins in gold and silver.
The international status and usage of the euro has grown since its launch in 1999. When the euro formally replaced 12 currencies on 1 January 2002, it inherited their use in territories such as Montenegro and replaced minor currencies tied to pre-euro currencies, such as in Monaco. Four small states have been given a formal right to use the euro, and to mint their own coins, but all other usage outside the eurozone has been unofficial. With or without an agreement, these countries, unlike those in the eurozone, do not participate in the European Central Bank or the Eurogroup.
The 2011 theme for the Europa coin programme is European Explorers. The subject must have been a European or to have conducted exploration on behalf of a European nation. At least 7 European countries are participating:
