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CC 111 2012
2 euro coin
BU Main coin Bank issue
2 Euro BU
Ireland · 10 years of euro cash
Mintage1,349,867
Issue date3 Jan 2012
Edge lettering2 ★ ★ × 6, alternating upright/inverted
Market price€13.90
Issue occasion
The joint issue commemorates the tenth anniversary of the introduction of the euro. At its centre is the euro sign, surrounded by people and symbols representing the financial world, trade, industry, energy, research and development: the ECB Tower, ships, factories and wind turbines. The design refers to the growing importance of the euro in Europe and in the international monetary system; the years 2002–2012 appear below.
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 symbolise 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” are positioned below the image of the ECB Tower. The names of the issuing countries in their national languages are centred above the design, with the dates 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 euro emerged as part of the European Economic and Monetary Union. The political foundations were established by the Maastricht Treaty (Vertrag von Maastricht), which set criteria for participation in the common currency. These included requirements concerning price stability, government debt, budget deficits, interest rates and exchange-rate stability.
The euro was already introduced as book money on 1 January 1999. At the same time, the conversion rates of the participating national currencies were irrevocably fixed. From then on, transfers, financial transactions and the common monetary policy could be conducted in euros, while national banknotes and coins continued to be used in everyday life at first. Responsibility for monetary policy was transferred to the European Central Bank and the national central banks of the Eurosystem.
Euro banknotes and coins entered circulation in twelve states on 1 January 2002. Within a short transition period, they replaced, among others, the Deutsche Mark, the French franc, the Italian lira, the Spanish peseta and the Austrian schilling. The changeover required the production and distribution of large quantities of cash, the adaptation of vending machines and cash-register systems, as well as dual price displays. By 2012, the euro area had grown to 17 states; Estonia had been the most recent country to join in 2011.
The issuance took place during a period in which the sovereign debt and banking crisis led to intense disputes over budget rules, financial assistance and the institutional structure of the monetary union. The anniversary therefore also provided an opportunity to point to the common currency as a unifying element of the member states.
The common coin design was not assigned to a single state. Following a design competition, a panel of experts selected five designs, which citizens and residents of the euro area could vote on online. The selected design was created by Helmut Andexlinger, an engraver at Münze Österreich. Differences between the issues mainly concern the respective country designation, as well as mint marks and edge inscriptions.
The euro was already introduced as book money on 1 January 1999. At the same time, the conversion rates of the participating national currencies were irrevocably fixed. From then on, transfers, financial transactions and the common monetary policy could be conducted in euros, while national banknotes and coins continued to be used in everyday life at first. Responsibility for monetary policy was transferred to the European Central Bank and the national central banks of the Eurosystem.
Euro banknotes and coins entered circulation in twelve states on 1 January 2002. Within a short transition period, they replaced, among others, the Deutsche Mark, the French franc, the Italian lira, the Spanish peseta and the Austrian schilling. The changeover required the production and distribution of large quantities of cash, the adaptation of vending machines and cash-register systems, as well as dual price displays. By 2012, the euro area had grown to 17 states; Estonia had been the most recent country to join in 2011.
The issuance took place during a period in which the sovereign debt and banking crisis led to intense disputes over budget rules, financial assistance and the institutional structure of the monetary union. The anniversary therefore also provided an opportunity to point to the common currency as a unifying element of the member states.
The common coin design was not assigned to a single state. Following a design competition, a panel of experts selected five designs, which citizens and residents of the euro area could vote on online. The selected design was created by Helmut Andexlinger, an engraver at Münze Österreich. Differences between the issues mainly concern the respective country designation, as well as mint marks and edge inscriptions.
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