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CC 108 2012
Coin set
BU
BU Mint Set
Finland · 10 years of euro cash
Mintage10,000
Issue price€29.00
Issue date12 Jan 2012
PackagingCoin set
Edge letteringSUOMI FINLAND + 3 lion heads
Price of the set (2 coins)€21.90
Issue occasion
The joint issue commemorates the tenth anniversary of the introduction of the euro. The euro sign is at the centre, surrounded by people as well as the European Central Bank (EZB) tower, ships, factories and wind turbines as symbols of the financial world, trade, industry, energy, and research and development. The design by Helmut Andexlinger was selected in a public online vote.
The design
The euro sign in the inner part of the coin illustrates that the euro has become an exceptionally important factor in Europe and worldwide and has developed into a global player in the international monetary system over the past ten years. The design elements arranged around the euro sign symbolize the importance of the euro for people, the financial world (ECB Tower), trade (ships), industry (factories), the energy sector, and research and development (wind turbines). The artist’s initials, “AH”, appear below the image of the ECB Tower. The names of the issuing countries in their national languages are positioned centrally above the design, with the years 2002–2012 inscribed below it.
The outer ring of the coin depicts the twelve stars of the European flag.
The outer ring of the coin depicts the twelve stars of the European flag.
Background on the topic
The euro was created as part of the European Economic and Monetary Union. Its foundations were laid in the Treaty of Maastricht, which entered into force in 1993. The aim was a common monetary policy for those EU member states that met certain economic and legal requirements. Responsibility for monetary policy was assigned to the European System of Central Banks under the leadership of the European Central Bank.
The euro was already introduced as a currency on 1 January 1999. Initially, however, it existed only as book money, for example for transfers, bank accounts and trading on the financial markets. The exchange rates of the participating national currencies were fixed irrevocably. Banknotes and coins in Deutsche Mark, francs, lire and other former currencies remained in everyday use during this transitional phase.
Euro banknotes and euro coins did not enter circulation until 1 January 2002. Therefore, the 2012 anniversary refers to the introduction of cash and not to the creation of the currency in 1999. The changeover was an extensive logistical task: cash had to be produced and distributed, vending machines and cash register systems had to be adapted, and prices often had to be displayed in both the old and new currencies during the transitional period. After short periods of parallel circulation, the former national banknotes and coins in the participating countries ceased to be legal tender.
The introduction of common cash made the monetary union immediately visible to the population. At the same time, it simplified payments and price comparisons across national borders. However, not all member states of the European Union participated in the euro. The euro area also changed through later accessions; shortly before the anniversary, Estonia had adopted the common currency in 2011.
The anniversary provided an opportunity for a joint issue because circulation coins bear both uniform European and different national design elements. A common commemorative design could therefore represent the cross-border function of cash, while the respective country designation identified the individual issuing countries. Such joint issues are approved only for selected Europe-wide occasions.
The euro was already introduced as a currency on 1 January 1999. Initially, however, it existed only as book money, for example for transfers, bank accounts and trading on the financial markets. The exchange rates of the participating national currencies were fixed irrevocably. Banknotes and coins in Deutsche Mark, francs, lire and other former currencies remained in everyday use during this transitional phase.
Euro banknotes and euro coins did not enter circulation until 1 January 2002. Therefore, the 2012 anniversary refers to the introduction of cash and not to the creation of the currency in 1999. The changeover was an extensive logistical task: cash had to be produced and distributed, vending machines and cash register systems had to be adapted, and prices often had to be displayed in both the old and new currencies during the transitional period. After short periods of parallel circulation, the former national banknotes and coins in the participating countries ceased to be legal tender.
The introduction of common cash made the monetary union immediately visible to the population. At the same time, it simplified payments and price comparisons across national borders. However, not all member states of the European Union participated in the euro. The euro area also changed through later accessions; shortly before the anniversary, Estonia had adopted the common currency in 2011.
The anniversary provided an opportunity for a joint issue because circulation coins bear both uniform European and different national design elements. A common commemorative design could therefore represent the cross-border function of cash, while the respective country designation identified the individual issuing countries. Such joint issues are approved only for selected Europe-wide occasions.
Interesting Facts
This coin set contains all seven denominations from 1 cent to 1 euro, as well as the two 2012 €2 commemorative coins “10 years of euro cash” (CC108) and “150th birthday of Helene Schjerfbeck” (CC130), face value: €5.88.