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CC 9 2005
Blister pack
BU
Blister pack BU
Belgium · Belgian-Luxembourg Economic Union
Mintage20,000
Issue price€9.00
Issue date20 May 2005
PackagingBlister pack
Edge lettering2 ★ ★ × 6, alternating upright/inverted
Market price€19.80
Issue occasion
The commemorative coin is dedicated to the Belgian-Luxembourg Economic Union. The design features the profile portraits of Grand Duke Henri of Luxembourg and King Albert II of Belgium, accompanied by their monograms, the year “2005”, the engraver’s initials “LL”, and the twelve stars.
The design
The portraits of Grand Duke Henri of Luxembourg and King Albert II of Belgium appear in profile in the centre of the design. The profile of King Albert II is positioned slightly above that of Grand Duke Henri. The year “2005” appears beneath the portraits. The engraver’s initials “LL” appear at the bottom right. The two portraits and the date are surrounded by the twelve stars, as well as by the monogram of Grand Duke Henri on the left and King Albert on the right. The mintmarks appear between two stars each, one on the left and one on the right in the lower part of the outer circle.
Background on the topic
The Belgian-Luxembourg Economic Union dates back to a treaty concluded in 1921. After the First World War, Luxembourg had ended its economic integration into the German customs union and needed new regulations for trade, customs and currency. The agreement with Belgium created a common economic area without abolishing Luxembourg’s independence as a state.
The core elements of the Union were the dismantling of customs barriers between the two countries, a common external tariff and the coordination of economic and financial policy matters. This was accompanied by a close currency link: the Luxembourg franc was equal in value to the Belgian franc, and Belgian money was generally used in Luxembourg. However, because the Belgian economy was considerably larger, the cooperation was not entirely symmetrical. Disputes and adjustments were dealt with by joint bodies.
The Union was established earlier than other West European associations. It was later supplemented by Benelux cooperation with the Netherlands and by European integration. With the introduction of the euro, the separate link between the Belgian and Luxembourg francs came to an end. Nevertheless, the bilateral Union remained as a framework for economic policy and administrative cooperation.
Henri has been Grand Duke of Luxembourg since 2000 and is therefore head of state of the Grand Duchy. Albert II. was King of the Belgians from 1993 to 2013. Both held office as constitutional monarchs; political leadership lay with their respective governments. Their joint depiction therefore primarily represents the two states party to the treaty and their longstanding institutional connection.
The issue date was connected with a revision of the Union treaty. Belgium and Luxembourg had signed a modernised convention in 2002, which entered into force in 2005. It adapted the cooperation to the European structures that had since emerged and to the common currency. The coin thus commemorated not only the historic Union but also its legal renewal.
The core elements of the Union were the dismantling of customs barriers between the two countries, a common external tariff and the coordination of economic and financial policy matters. This was accompanied by a close currency link: the Luxembourg franc was equal in value to the Belgian franc, and Belgian money was generally used in Luxembourg. However, because the Belgian economy was considerably larger, the cooperation was not entirely symmetrical. Disputes and adjustments were dealt with by joint bodies.
The Union was established earlier than other West European associations. It was later supplemented by Benelux cooperation with the Netherlands and by European integration. With the introduction of the euro, the separate link between the Belgian and Luxembourg francs came to an end. Nevertheless, the bilateral Union remained as a framework for economic policy and administrative cooperation.
Henri has been Grand Duke of Luxembourg since 2000 and is therefore head of state of the Grand Duchy. Albert II. was King of the Belgians from 1993 to 2013. Both held office as constitutional monarchs; political leadership lay with their respective governments. Their joint depiction therefore primarily represents the two states party to the treaty and their longstanding institutional connection.
The issue date was connected with a revision of the Union treaty. Belgium and Luxembourg had signed a modernised convention in 2002, which entered into force in 2005. It adapted the cooperation to the European structures that had since emerged and to the common currency. The coin thus commemorated not only the historic Union but also its legal renewal.