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CC 110 2012
2 euro coin
BU Main coin Bank issue
2 Euro BU
Greece · 10 years of euro cash
Mintage992,500
Issue date2 Jan 2012
Edge letteringΕΛΛΗΝΙΚΗ ΔΗΜΟΚΡΑΤΙΑ + ★
Market price€9.90
Issue occasion
The joint commemorative coin marks the tenth anniversary of the introduction of the euro. At its centre is the euro symbol, surrounded by symbols representing people, the financial world, trade, industry, energy, and research and development: the ECB tower, ships, factories, and wind turbines. The design refers to the development of the euro into a significant factor in the international monetary system.
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 last ten years. The design elements arranged around the euro sign symbolise the importance of the euro for people, the financial world (European Central Bank 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 European Central Bank tower. The names of the issuing countries in their national languages are positioned centrally above the design, with the years 2002-2012 inscribed below.
The twelve stars of the European flag are depicted on the coin’s outer ring.
The twelve stars of the European flag are depicted on the coin’s outer ring.
Background on the topic
The anniversary refers to the introduction of euro banknotes and coins on 1 January 2002. The euro had already existed as book money since 1 January 1999. From that point onward, the exchange rates of the participating national currencies were irrevocably fixed; transfers, account management and transactions on the financial markets could already be conducted in euros. Cash initially continued to circulate in the respective national currencies.
The basis for the common currency was the Economic and Monetary Union agreed in the Treaty of Maastricht. To participate, states had to meet certain requirements concerning price stability, public finances, exchange rates and long-term interest rates. Monetary policy was transferred to the European System of Central Banks and is coordinated for the euro area by the European Central Bank. In 1999, eleven states initially introduced the euro as book money; Greece joined in 2001. Thus, at the beginning of 2002, twelve countries switched to euro cash simultaneously. Banknotes and coins of the former currencies were withdrawn from circulation within short transitional periods.
By 2012, the euro area had grown to 17 member states through the addition of Slovenia, Cyprus, Malta, Slovakia and Estonia. The coin therefore commemorated not only the changeover to cash, but also the expansion of the common currency area. Euro coins have a common European side and a country-specific side, but are legal tender throughout the entire euro area regardless of the issuing country.
For the commemorative issue, all member states of the euro area at that time had the same basic design minted. Citizens and residents decided on its design in a public online vote. Five designs were available for selection, having been chosen by a professional jury from a Europe-wide design competition. The selected design was by Helmut Andexlinger, an engraver at the Austrian Mint (Münze Österreich). The common issue emphasised the cross-border character of the occasion, while the country designation, mint mark and edge inscription remained different in each country.
The basis for the common currency was the Economic and Monetary Union agreed in the Treaty of Maastricht. To participate, states had to meet certain requirements concerning price stability, public finances, exchange rates and long-term interest rates. Monetary policy was transferred to the European System of Central Banks and is coordinated for the euro area by the European Central Bank. In 1999, eleven states initially introduced the euro as book money; Greece joined in 2001. Thus, at the beginning of 2002, twelve countries switched to euro cash simultaneously. Banknotes and coins of the former currencies were withdrawn from circulation within short transitional periods.
By 2012, the euro area had grown to 17 member states through the addition of Slovenia, Cyprus, Malta, Slovakia and Estonia. The coin therefore commemorated not only the changeover to cash, but also the expansion of the common currency area. Euro coins have a common European side and a country-specific side, but are legal tender throughout the entire euro area regardless of the issuing country.
For the commemorative issue, all member states of the euro area at that time had the same basic design minted. Citizens and residents decided on its design in a public online vote. Five designs were available for selection, having been chosen by a professional jury from a Europe-wide design competition. The selected design was by Helmut Andexlinger, an engraver at the Austrian Mint (Münze Österreich). The common issue emphasised the cross-border character of the occasion, while the country designation, mint mark and edge inscription remained different in each country.
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