Document ID: 32012R0651

Reference:
27.7.2012
EN
Official Journal of the European Union
L 201/135
REGULATION (EU) No 651/2012 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
of 4 July 2012
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,
After transmission of the draft legislative act to the national parliaments,
Having regard to the Opinion of the European Central Bank (1),
Acting in accordance with the ordinary legislative procedure (2),
Whereas:
(1)
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 circulation (3), 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 coins (4), recommend practices regarding the issuance of euro coins intended for circulation, including commemorative euro coins, consultation prior to the destruction of fit euro circulation coins and the use of euro collector coins.
(2)
The lack of mandatory provisions for the 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 interests of transparency and legal certainty, it is therefore necessary to introduce binding rules for the issuance of euro coins.
(3)
In accordance with Council Regulation (EC) No 974/98 of 3 May 1998 on the introduction of the euro (5), 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 Member States whose currency is the euro. Denominations and technical specifications of euro coins are laid down in Council Regulation (EC) No 975/98 of 3 May 1998 on denominations and technical specifications of euro coins intended for circulation (6).
(4)
Member States whose currency is the euro should also be able to issue 2-euro commemorative coins to celebrate specific subjects, subject to limits set per year and per issuing Member State for the number of issues of such coins. It is necessary to establish certain volume limits for commemorative euro coins in order to ensure that such coins remain a minor percentage of the total number of the 2-euro coins in circulation. Such volume limits should, however, allow for the issuance of a sufficient volume of coins to ensure that commemorative euro coins can circulate effectively.
(5)
Member States whose currency is the euro should also be able to issue euro collector coins, which are not intended for circulation and which should be readily distinguishable from circulation coins. Euro collector coins should have the status of legal tender only in the Member State of issuance and should not be issued with a view to their entry into circulation.
(6)
It is appropriate that issuances of euro collector coins are accounted for in the volume of coins to be approved by the European Central Bank, but on an aggregate basis rather than for each individual issue.
(7)
The use of different denominations of euro coins and euro banknotes, as currently devised, should be periodically and carefully examined by the competent institutions against the criteria of cost and public acceptability. In particular, the Commission should conduct an impact assessment on the continued issuance of 1- and 2-cent coins.
(8)
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
Definitions
For the purposes of this Regulation, the following definitions shall apply:
(1)
‘circulation coins’ means euro coins intended for circulation, the denominations and technical specifications of which are laid down in Regulation (EC) No 975/98;
(2)
‘commemorative coins’ means circulation coins, which are intended to commemorate a specific subject as specified in Article 1h of Regulation (EC) No 975/98;
(3)
‘collector coins’ means euro coins intended for collection that are not issued with a view to their entry into circulation.
Article 2
Types of euro coin
1.   Member States may issue two types of euro coin: circulation coins and collector coins.
2.   The Commission shall conduct an impact assessment on the continued issuance of 1- and 2-cent coins. That impact assessment shall include a cost-benefit analysis which takes into account the real production costs of those coins set against their value and benefits.
Article 3
Issuance of circulation coins
1.   Circulation coins shall be issued and put into circulation at face value.
2.   A minor proportion, not exceeding 5 % of the cumulated total net value and volume of circulation coins issued by a Member State, taking into account only years with positive net issuance, may be put on the market above face value if justified by the special quality of the coin, a special packaging or any additional services provided.
Article 4
Issuance of commemorative coins
1.   Each Member State whose currency is the euro may only issue two commemorative coins per year, save where:
(a)
commemorative coins are collectively issued by all Member States whose currency is the euro; or
(b)
a commemorative coin is issued on the occasion of a temporary vacancy or a provisional occupation of the function of Head of State.
2.   The total number of commemorative coins put into circulation for each individual issue shall not exceed the higher of the following two ceilings:
(a)
0,1 % of the cumulated total net number of 2-euro coins put into circulation by all Member States whose currency is the euro 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 cumulated total net number of 2-euro coins of all Member States whose currency is the euro if a widely recognised and highly symbolic subject is commemorated, in which case the issuing Member State shall refrain from launching another commemorative coin issue using the raised ceiling during the subsequent four years and shall set out the reasons for choosing the raised ceiling; or
(b)
5,0 % of the cumulated total net number of 2-euro coins put into circulation by the Member State concerned up to the beginning of the year preceding the year of issuance of the commemorative coin.
3.   The decision whether to issue commemorative coins with a common design collectively issued by all Member States whose currency is the euro shall be taken by the Council. The voting rights of the Member States whose currency is not the euro shall be suspended for the adoption of that decision.
Article 5
Issuance of collector coins
1.   Collector coins shall have the status of legal tender 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 circulation coins, collector coins shall meet all of the following criteria:
(a)
their face value must be different from the face values of circulation coins;
(b)
their images must not be similar to the common sides of circulation coins, and if their images are similar to any national side of circulation coins, their overall appearance can still be easily differentiated;
(c)
their colour, diameter and weight must differ significantly from 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 circulation coins; and
(d)
they must not have a shaped edge with fine scallops or a ‘Spanish flower’ shape.
3.   Collector coins may be put on the market at or above face value.
4.   The issuances of collector coins shall be accounted for on an aggregated basis in the volume of coin issuance to be approved by the European Central Bank.
5.   Member States shall take all appropriate measures to discourage the use of collector coins as a means of payment.
Article 6
Consultation prior to the destruction of circulation coins
Prior to the destruction of circulation coins which are not euro coins unfit for circulation within the meaning of point (b) of Article 2 of Regulation (EU) No 1210/2010 of the European Parliament and of the Council of 15 December 2010 concerning authentication of euro coins and handling of euro coins unfit for circulation (7), Member States shall consult each other via the relevant subcommittee of the Economic and Financial Committee and inform the mint directors of the Member States whose currency is the euro.
Article 7
Entry into force
This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.
This Regulation shall be binding in its entirety and directly applicable in the Member States in accordance with the Treaties.
Done at Strasbourg, 4 July 2012.
For the European Parliament
The President
M. SCHULZ
For the Council
The President
A. D. MAVROYIANNIS
(1)  OJ C 273, 16.9.2011, p. 2.
(2)  Position of the European Parliament of 22 May 2012 (not yet published in the Official Journal) and decision of the Council of 26 June 2012.
(3)  OJ L 9, 14.1.2009, p. 52.
(4)  OJ L 83, 30.3.2010, p. 70.
(5)  OJ L 139, 11.5.1998, p. 1.
(6)  OJ L 139, 11.5.1998, p. 6.
(7)  OJ L 339, 22.12.2010, p. 1.

Summary:
Issue of euro coins
Issue of euro coins
SUMMARY OF:
Regulation (EU) No 651/2012 on the issuance of euro coins
Regulation (EU) No 729/2014 on denominations and technical specifications of euro coins intended for circulation
WHAT IS THE AIM OF THE REGULATIONS?
Regulation (EU) No 651/2012 defines the types of euro coins and lays down the conditions to be respected at coin issue.
Regulation (EU) No 729/2014 sets the technical requirements of the euro coins and provides for general rules on their design including design approval.
KEY POINTS
Regulation (EU) No 651/2012 states:
governments of euro area countries (countries that have the euro as their currency) may issue circulation coins* and collector coins*;
circulation coins are made available at their face value, except for a maximum of 5% which may be put on the market at a higher price because of their special qualities or packaging;
national commemorative coins*
may only be issued twice a year (unless the design is common to all euro area countries);
the total number issued must not be above one of two possible limits, whichever is higher, as a percentage of all 2-euro coins in circulation;
collector coins
are only legal tender* in the issuing euro area country;
must be clearly distinguishable from circulation coins in face value, images and in two of the following: colour, diameter and weight;
governments of euro area countries must consult each other before destroying damaged euro coins;
the Commission carries out an impact assessment, analysing the real production costs of 1- and 2-cent coins against their value and benefits.
Further to Regulation (EU) No 729/2014:
there are eight euro coins (1, 2, 5, 10, 20 and 50 cents and 1 and 2 euro);
each coin has a distinctive national and a common European side;
national sides must:
bear a circle of 12 stars fully surrounding the national design;
remain unchanged for 15 years, unless the country’s head of state changes;
not show the coin’s value, unless using a different alphabet;
comply fully with the regulation by 20 June 2062;
commemorative coins must:
only have a face value of 2 euros;
have a different national design from regular* 2-euro coins;
only commemorate subjects of major national or European relevance or
commemorate subjects of the highest European relevance if issued collectively throughout the euro area;
euro area countries must inform each other and the Commission of any proposed changes to their national designs and submit this to an approval procedure. This allows for objections from
a government that believes the design would upset its own public;
the Commission, if it considers the design does not respect the legislation’s technical requirements.
FROM WHEN DO THE REGULATIONS APPLY?
Regulation (EU) No 651/2012 has applied since 16 August 2012.
Regulation (EU) No 729/2014 consolidates former rules regarding coins set when the euro was introduced in 2002 by the Regulation (EC) No 975/98 and successive amendments. It has applied since 22 July 2014.
Both Regulations have integrated the elements of the Commission Recommendation 2009/23/EC on common guidelines for the national sides and the issuance of euro coins intended for circulation.
BACKGROUND
Euro coins came into general use in 2002. The eight denominations vary in size, colour and thickness depending on their value and are designed to make any illegal reproduction extremely difficult.
For more information, see:
‘Euro notes and coins’ (European Commission).
* KEY TERMS
              
Circulation coins: coins for general public use which are legal tender in all euro area countries.
Collector coins: coins not intended for circulation, which are legal tender only in the euro area country where they are issued.
Commemorative coins: 2-euro circulation coins to commemorate a specific subject of national or European importance.
Legal tender: coins or banknotes that must be accepted in a country if offered in payment of a debt.
Regular coins: circulation coins excluding commemorative coins.
MAIN DOCUMENTS
            
Regulation (EU) No 651/2012 of the European Parliament and of the Council of 4 July 2012 on the issuance of euro coins (OJ L 201, 27.7.2012, pp. 135–137)
Council Regulation (EU) No 729/2014 of 24 June 2014 on denominations and technical specifications of euro coins intended for circulation (Recast) (OJ L 194, 2.7.2014, pp. 1–7)
last update 04.04.2017