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CC 414 2021
Coincard
BU Französisch
Coincard – French version
Belgium · 100th anniversary of the founding of the Belgium-Luxembourg Economic Union (Belgisch-Luxemburgische Wirtschaftsunion, BLEU)
Mintage75,000
Issue price€10.00
Issue date7 Jul 2021
PackagingCoincard
Edge lettering2 ★ ★ × 6, alternating upright/inverted
Market price€12.90
Mintage information from source: Gesamt 150.000 · 1:1 auf NL/FR geteilt
Issue occasion
The coin commemorates the 100th anniversary of the founding of the Belgian-Luxembourg Economic Union (BLEU), a customs and monetary union agreed in 1921 to strengthen cooperation and integration between the two countries. The design features portraits of the Belgian King Philippe I and the Grand Duke Henri of Luxembourg, the outlines of both countries, the inscription “ECONOMIC UNION”, and the years 1921 and 2021. It also includes the initials LL of the coin’s designer, Luc Luycx.
The design
The economic union was a customs and monetary union aimed at strengthening cooperation and integration between the two countries. On 25 July 1921, it was signed for an initial period of 50 years. Subsequently, several further protocols were signed to maintain the economic union for a longer period. The latest protocol was signed by both countries on 18 December 2002.
The national side of the coin shows portraits of Philippe I, King of the Belgians, and Henri, Grand Duke of Luxembourg. The two countries are also depicted, along with the inscription ECONOMIC UNION. The two years 1921 and 2021 appear at the bottom of the inner ring. As the coins will be minted by the Royal Dutch Mint, the mint mark of Utrecht, a caduceus, and the mark of the Belgian mint master, the coat of arms of the municipality of Herzele, are also shown at the bottom. The initials LL of the coin designer Luc Luycx can also be seen. The twelve stars of the European flag are depicted on the outer ring.
The national side of the coin shows portraits of Philippe I, King of the Belgians, and Henri, Grand Duke of Luxembourg. The two countries are also depicted, along with the inscription ECONOMIC UNION. The two years 1921 and 2021 appear at the bottom of the inner ring. As the coins will be minted by the Royal Dutch Mint, the mint mark of Utrecht, a caduceus, and the mark of the Belgian mint master, the coat of arms of the municipality of Herzele, are also shown at the bottom. The initials LL of the coin designer Luc Luycx can also be seen. The twelve stars of the European flag are depicted on the outer ring.
Background on the topic
After the First World War, Luxembourg had to realign its economy. Since the 19th century, the Grand Duchy had belonged to the Zollverein shaped by Prussia and, subsequently, the German Empire. This connection ended as a result of the war. In a Luxembourg referendum in 1919, a majority voted in favour of closer economic ties with France. As this did not result in a corresponding agreement, Luxembourg began negotiations with Belgium.
The union subsequently established created a common economic area with a uniform customs border. In principle, goods could circulate between the two states without internal customs duties; coordinated customs regulations applied to third countries. Customs revenue was also distributed according to agreed rules. In monetary policy, the Luxembourg franc was firmly pegged to the Belgian franc. Belgian banknotes and coins were widely used in everyday life in Luxembourg. However, Luxembourg retained its own currency and its own coin issues. This asymmetrical arrangement reflected the very different sizes of the two economies.
The bilateral cooperation continued alongside later forms of integration. During the Second World War, Belgium and Luxembourg, together with the Netherlands, agreed on the Benelux-Zollunion, which was implemented after the end of the war. Both states subsequently also became founding members of the European Communities. The economic union was therefore not a replacement for the Benelux-Zollunion or European integration, but remained an additional framework for coordination between Belgium and Luxembourg. With the introduction of the euro, the former link between the two francs ceased to apply; institutional cooperation nevertheless continued.
King Philippe has been Belgium’s head of state since 2013, and Grand Duke Henri has been Luxembourg’s head of state since 2000. Both perform their duties within the framework of parliamentary monarchies. Their joint depiction therefore refers to the state-level backing of the agreement. The anniversary was a suitable occasion for the coin issue because the union endured through several political and monetary-historical eras and is also part of the history of the economic interdependence of the two present-day euro area states.
The union subsequently established created a common economic area with a uniform customs border. In principle, goods could circulate between the two states without internal customs duties; coordinated customs regulations applied to third countries. Customs revenue was also distributed according to agreed rules. In monetary policy, the Luxembourg franc was firmly pegged to the Belgian franc. Belgian banknotes and coins were widely used in everyday life in Luxembourg. However, Luxembourg retained its own currency and its own coin issues. This asymmetrical arrangement reflected the very different sizes of the two economies.
The bilateral cooperation continued alongside later forms of integration. During the Second World War, Belgium and Luxembourg, together with the Netherlands, agreed on the Benelux-Zollunion, which was implemented after the end of the war. Both states subsequently also became founding members of the European Communities. The economic union was therefore not a replacement for the Benelux-Zollunion or European integration, but remained an additional framework for coordination between Belgium and Luxembourg. With the introduction of the euro, the former link between the two francs ceased to apply; institutional cooperation nevertheless continued.
King Philippe has been Belgium’s head of state since 2013, and Grand Duke Henri has been Luxembourg’s head of state since 2000. Both perform their duties within the framework of parliamentary monarchies. Their joint depiction therefore refers to the state-level backing of the agreement. The anniversary was a suitable occasion for the coin issue because the union endured through several political and monetary-historical eras and is also part of the history of the economic interdependence of the two present-day euro area states.