OPINION OF THE EUROPEAN CENTRAL BANK
of 30 April 1999
at the request of the Italian Ministry of Treasury Finance under Article 105 (4), second
indent, of the Treaty establishing the Euro pean Community, Article 4(a), second indent,
of the Statute of the European System of Central Banks and of the European Central
Bank and Article 2.1 of Council Decision 98/415/EC of 29 June 1998 on the consultation
of the European Central Bank by national authorities regarding draft legislative
provisions, on a draft Presidential Decree containing Regulations for the production
and issue of coins (the draft Presidential Decree)
1. On 9 April 1999 the European Central Bank (ECB) received a request for an opinion on the
draft Presidential Decree from the Italian Ministry of Trea sury. This ECB Opinion is based on
the English translation of the draft submitte d to the ECB by the consulting authority.
2. The ECBs competence to deliver an opinion is ba sed on Article 2.1, first and second indent, of
the Council Decision 98/415/EC of 29 June 1998 on the consultation of the ECB by national
authorities regarding draft legislative provisio ns, as the draft Presid ential Decree contains
provisions concerning  the minting and issuance of state coins. In accordance with Article 17.5,
first sentence, of the Rules of Procedure of the ECB, this ECB Opinion has been adopted by
the Governing Council of the ECB.
3. The purpose of the draft Presid ential Decree is to adopt provisions in order to amend and
integrate, where necessary, the provisions of Ministerial Decr ee of 30 July 1983, taking into
account the relevant provisions of  Community law in the field of issuance of both national and
euro coins. The draft Presidential Decree cove rs both the issuance of state coins and euro
coins and accommodates in Article 1, first an d second paragraphs, the powers of the ECB
granted by Article 105a(2) of the EC Treaty. The ECB notes that the recognition in the Italian
legislation of the need for ECB approval of the volume of coins to be issued makes suchapproval a legal condition for the issuance. Ho wever, concerning in particular the second
paragraph of Article 1, the ECB recommends to ma ke it more clear that the approval by the
ECB of the volume of coin issuance is not re quired to initiate production. In fact, while the
production of euro coins can start already in 1999  without the need for approval of the ECB, it
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is only starting from 1 January  2002 that euro coins can be issued subject to the approval by
the ECB of the volume of euro coins issuance. 
4. The ECB notes that Article 1, second and thir d paragraphs, correctly require compliance with
the measures adopted by the Council of the European Union pursuant to Article 105a,
paragraph 2 of the Treaty and with relevant Community provisions in the field of the
technical and artistic characteristics of each denomination.
5. Articles 2 to 15 of the draft Pr esidential Decree deal mainly, in a very detailed way, with the
organisation of production of coins, including, inter alia , supervision and control and security
measures. In Article 8, 1st paragraph, the ECB suggests to make clear that the reference to
the characteristic design specified in the measure of the Ministry of the Treasury is withoutprejudice to the applicable Community legisl ation adopted by the Council of the European
Union pursuant to Article 105a , paragraph 2 of th e Treaty. Moreover, the ECB understands
the wording without prejudice to any measur es issued by European Community bodies in
Article 14 as referring also to the need of ECB approval for the issue of gold and silver euro
coins.
6. Articles 16 to 28 of the draft Pr esidential Decree deal with the issuance of coins, specifying the
distribution channels and establishing a set of ru les dealing with transport, delivery and receipt
of coins. While most Articles do not require any comments from the EC B, concerning Article
28 the ECB suggests to clarify that,  in connection with the euro co ins intended for circulation,
the competence of the permanent and artistic committee are limited to the national side ofthe coins.
The ECB confirms that it has no objection to this Opinion being made public by the competent Italian
authorities at their discretion.
Done at Frankfurt am Main on 30 April 1999.
The President of the ECB
[signed]
Willem F. Duisenberg