EN 
 
 
OPINION OF THE EUROPEAN CENTRAL BANK 
of 4 February 2009 
at the request of Sveriges Riksbank 
on a draft law on the fifty öre coin ceasing to be legal tender 
(CON/2009/8)  
 Introduction and legal basis
 
On 29 December 2008 the European Central Bank (ECB)  received a request from Sveriges Riksbank for 
an opinion on a draft law on the fifty öre coin ceasing to  be legal tender (hereinafter the ‘draft law’). 
The ECB’s competence to de liver an opinion is based on Article 105(4) of the Treaty establishing the 
European Community and the second indent of Arti cle 2(1) of Council Decision 98/415/EC of 29 June 
1998 on the consultation of the European Central Ba nk by national authorities regarding draft legislative 
provisions1, as the draft law relates to means of paymen t. In accordance with the first sentence of 
Article 17.5 of the Rules of Procedure of the Euro pean Central Bank, the Governing Council has adopted 
this opinion. 
 1. Purpose of the draft law 
Under the draft law, the fifty öre coin will cease to be legal tender with e ffect from 30 September 2010. 
The reasons for the draft law are that there are clear indications that the use of the fifty öre coin has 
declined and that it has a low circulation. 
This change also necessitates an  amendment to the Law (1970:1029)  on the rounding of certain amounts 
in öre, so that in future rounding will be to the nearest krona. 
 2.  General Observations According to Chapter 9, Article 14, of the Swed ish Constitution, Sveriges Riksbank has the exclusive 
right to issue banknotes and coins. Chapter 5, Article  1, of Sveriges Riksbank Act states that banknotes 
and coins issued by Sveriges Riksbank are legal tend er. However, general rules concerning the monetary 
and payment system, such as decisions on certain Sw edish banknotes and coins ceasi ng to be legal tender, 
are laid down by statutes enacted by Sveriges Riksdag (the Swedish Parliament). 
                                                     
 
1 OJ L 189, 3.7.1998, p. 42.  
2 The ten öre coin was demonetised by the Law (1991:119 0) on the ten öre coin ceasing to be legal tender. 
Older fifty öre coins struck in accordance with laws and regulations  prior to 1 October 1992 were 
demonetised by the Law (2004:863) on the old fifty öre coin ceasing to be legal tender2. 
Sveriges Riksbank has now decided to abolish the fift y öre coin, subject to Sveriges Riksdag adopting the 
draft law on the fifty öre coin  ceasing to be legal tender. 
The ECB acknowledges that Sveriges Riksbank has conducte d an in-depth examination into the need for 
a fifty öre coin, taking into account the usage, dema nd for and cost of the coin. The opinions of the 
general public and of the banks, the retail trade and cash -in-transit companies have also been taken into 
account. The consequences of withdrawing the coin ha ve been described, as we ll as any effects on the 
demand for other coin denominations and on general price levels. Sveriges Riksbank has also considered 
whether the withdrawal of the fifty öre coin  could have any implications for inflation3. 
The ECB considers it important that there should be  sufficient notice of the proposed change and a 
sufficient interval between the date when the draft la w enters into force and the date when the fifty öre 
coin ceases to be legal tender. The provision of an appropriate period for free- of-charge redemption of 
fifty öre coins of citizens would also be warranted.   
 This opinion will be published on the ECB’s website.   Done at Frankfurt am Main, 4 February 2009. 
 
[signed] 
 
The President of the ECB 
Jean-Claude TRICHET 
                                                     
 
2  See ECB Opinion CON/2004/17 of 17 May 2004 at the request of  the Sveriges Riksbank on tw o draft laws on certain old 
banknotes and coins ceasi ng to be legal tender. 
3  See Sveriges Riksbank’s report: Examination of the need for a 50-öre coin , reference number 2008-903-ADM.