Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on the issuance of euro coins
Date: 2011-05-25
Institutions: European Commission
Subjects: euro, issuing of currency, paper money, technical specification

EUROPEAN COMMISSION 

Brussels, 25.5.2011 
COM(2011) 295 final 

2011/0131 (COD) 

Proposal for a 

REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL 

on the issuance of euro coins 

 
 
  
 
2011/0131 (COD) 

Proposal for a 

REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL 

on the issuance of euro coins 

THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION, 

Having  regard  to  the  Treaty  on  the  Functioning  of  the  European  Union,  and  in  particular 
Article 133 thereof, 

Having regard to the proposal from the European Commission,  

Having regard to the Opinion of the European Central Bank, 

After transmission of the draft legislative act to the national Parliaments, 

Acting in accordance with the ordinary legislative procedure, 

Whereas: 

(1) 

(2) 

(3) 

The  Council  conclusions  of  23  November  1998  and  of  5  November  2002  on  euro 
coins  intended  for  collection,  the  Commission  Recommendation  2009/23/EC  of  19 
December 2008 on common guidelines for the national sides and the issuance of euro 
coins intended for circulation1, endorsed by Council conclusions of 10 February 2009, 
and the Commission Recommendation 2010/191/EU of 22 March 2010 on the scope 
and  effects  of  legal  tender  of  euro  banknotes  and  coins2,  provide  for  recommended 
practices  regarding  euro  collector  coins,  the  issuance  of  euro  coins  intended  for 
circulation, including commemorative circulation coins, and consultation prior to the 
destruction of fit euro circulation coins.  

The  lack  of  mandatory  provisions  for  issuance  of  euro  coins  may  result  in  different 
practices  among  Member  States  and  does  not  achieve  a  sufficiently  integrated 
framework for the single currency. In the interest of legal transparency and certainty, it 
is therefore necessary to introduce binding rules for the issuance of euro coins.  

In  accordance  with  Council  Regulation  (EC)  No  974/98  of  3  May  1998  on  the 
introduction of the euro3, coins denominated in euro and cent and complying with the 
denominations and technical specifications laid down by the Council have the status of 
legal  tender  in  all  'participating  Member  States'  as  defined  in  that  Regulation.  Their 
denominations and technical specifications are laid down in Council Regulation (EC) 

1 
2 
3 

OJ L 9, 14.1.2009, p. 52. 
OJ L 83, 30.3.2010, p. 70. 
OJ L 139, 11.5.1998, p. 1. 

EN 

2 

   EN 

 
 
                                                 
No 975/98 of 3 May 1998 on denominations and technical specifications of euro coins 
intended for circulation4.  

(4) 

Apart  from  regular  euro  circulation  coins,  Member  States  may  also 
issue 
commemorative euro circulation coins to celebrate specific subjects, subject to limits 
set  per  year  and  issuing  Member  State  for  the  number  of  issues  of  such  coins.  It  is 
furthermore  necessary  to  establish  certain  volume  limits  for  commemorative 
circulation coins in order to ensure that such coins remain a minor percentage of the 
total number of the 2-euro coins in circulation. At the same time, these volume limits 
should  allow  for  the  issuance  of  a  sufficient  volume  of  coins  to  ensure  that 
commemorative coins can circulate effectively. 

(5)  Member  States  should  also  be  able  to  issue  euro  collector  coins,  which  are  not 
intended  for  circulation  and  which  should  be  readily  distinguishable  from  euro 
circulation  coins.  Euro  collector  coins  should  have  legal  tender  status  only  in  the 
Member  State  of  issuance  and  should  not  be  issued  with  a  view  to  their  entry  into 
circulation. 

(6) 

(7) 

(8) 

In order to ensure that euro collector coins are not confused with euro circulation coins 
they should be readily distinguishable from the latter. It is furthermore appropriate that 
issuances  of  euro  collector  coins  are  accounted  for  in  the  volume  of  coins  to  be 
approved by the European Central Bank (ECB), but on an aggregate basis rather than 
for each individual issue. 

It is appropriate and in line with common practice among participating Member States 
that euro circulation coins, including commemorative circulation coins, should be put 
into  circulation  at  face  value,  although  a  minor  proportion  may  be  sold  at  a  higher 
price if produced with a special quality or presented in special packaging. 

In  order  to  avoid  that  fit  euro  circulation  coins  are  destroyed  by  one  Member  State 
while  there  may  be  a  need  of  such  coins  in  another,  Member  States  should  consult 
each other prior to the destruction of such coins. 

HAVE ADOPTED THIS REGULATION: 

Article 1 

Subject matter 

This  Regulation  lays  down  rules  on  the  issuance  of  euro  circulation  coins,  including 
commemorative circulation coins, on the issuance of euro collector coins, and on consultation 
prior to the destruction of fit euro circulation coins. 

Article 2 

Definitions 

4 

OJ L 139, 11.5.1998, p. 6. 

EN 

3 

   EN 

 
                                                 
For the purposes of this Regulation, the following definitions shall apply: 

1.  "Euro  circulation  coins"  means  euro  coins  intended  for  circulation,  whose  denominations 
and  technical specifications are laid down in Council Regulation (EC) No 975/98 of 3 May 
1998. 

2. "Commemorative euro circulation coins" means euro circulation coins, which are intended 
to commemorate a specific subject as specified in Article 1f of Council Regulation (EC) No 
975/98. 

3.  "Euro  collector  coins"  means  euro  coins  intended  for  collection  that  are  not  intended  to 
enter into circulation. 

Article 3 

Types of euro coins 

Member  States  may  issue  two  types  of  euro  coins:  euro  circulation  coins,  which  include 
commemorative euro circulation coins, and euro collector coins. 

Article 4 

Issuance of euro circulation coins  

1. Euro circulation coins shall be issued at face value. 

2. By derogation from paragraph 1, a minor proportion, not exceeding 5 % of the total value 
and volume of issued euro coins, may be issued above face value if  justified  by  the special 
quality of the coin or a special packaging.  

Article 5 

Issuance of commemorative euro circulation coins 

1. Each participating Member State may only issue one commemorative euro circulation coin 
per year, except in cases where: 

(a) commemorative euro circulation coins are collectively issued by all participating Member 
States; 

(b) a possible commemorative euro circulation coin is issued at the occasion of a temporary 
vacancy or a provisional occupation of the function of Head of State. 

2. The total number of commemorative circulation coins issued for each individual issue shall 
not exceed the higher of the following two ceilings: 

a)  0,1  %  of  the  total  number  of  2-euro  coins  brought  into  circulation  by  all  participating 
Member  States  up  to  the  beginning  of  the  year  preceding  the  year  of  issuance  of  the 
commemorative  coin;  this  ceiling  may  be  raised  to  2,0  %  of  the  total  circulation  of  2-euro 
coins of all participating Member States if a widely recognised and highly symbolic subject is 

EN 

4 

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commemorated, in which case the issuing Member State shall refrain from launching another 
commemorative  circulation  coin  issue  using  the  raised  ceiling  during  the  subsequent  four 
years and shall set out the reasons for choosing the raised ceiling. 

b) 5,0 % of the total number of 2-euro coins brought into circulation by the issuing Member 
State  concerned  up  to  the  beginning  of  the  year  preceding  the  year  of  issuance  of  the 
commemorative coin. 

3.  The  issuance  of  commemorative  euro  circulation  coins  collectively  issued  by  all 
participating Member States shall be approved by the Euro Group.  

Article 6 

Issuance of euro collector coins 

1. Euro collector coins shall have legal tender status only in the issuing Member State. 

The identity of the issuing Member State shall be clearly and easily recognisable on the coin. 

2.  In  order  to  be  easily  differentiated  from  euro  circulation  coins,  euro  collector  coins  shall 
meet all of the following criteria: 

a) their face value shall be different from the face values of euro circulation coins; 

b) they shall not use images which are similar to the common sides of euro circulation coins 
or to any national side of euro circulation coins;  

c) their colour, diameter and weight shall differ significantly from euro circulation coins for at 
least  two  of  these  three  characteristics;  the  difference  shall  be  regarded  as  significant  if  the 
values including tolerances are outside the tolerance ranges fixed for euro circulation coins; 

d) they shall not have a shaped edge with fine scallops or a 'Spanish flower' shape; 

3. Euro collector coins may be issued at or above face value.  

4. The issuances of euro collector coins shall be accounted for on an aggregated basis in the 
volume of coin issuance to be approved by the ECB. 

5.  Member  States  shall  take  all  appropriate  measures  to  prevent  euro  collector  coins  from 
being  used  as  means  of  payments,  such  as  special  packaging,  certificate  of  authentication, 
previous announcement from the issuing authority or issuance above face value. 

Article 7 

Consultation prior to the destruction of euro circulation coins 

EN 

5 

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Prior to the destruction of euro circulation coins which are not euro coins unfit for circulation 
in  accordance  with  Article  2(b)  of  Regulation  (EU)  No  1210/20105,  Member  States  shall 
consult each other via the relevant subcommittee of the Economic and Financial Committee 
and  inform  the  Mint  Directors  of  the  participating  Member  States  as  defined  in  Council 
Regulation (EC) No 974/986. 

Article 8 

Entry into force 

This  Regulation  shall  enter  into  force  on  the  twentieth  day  following  its  publication  in  the 
Official Journal of the European Union. 

It shall be binding in its entirety and directly applicable in the Member States in accordance 
with the Treaties. 

Done at Brussels, 

For the European Parliament 
The President 

For the Council 
The President 

5 
6 

OJ L 339, 22.12.2010, p.1. 
OJ L 139, 11.5.1998, p. 1. 

EN 

6 

   EN