Monaco - Euro Coins
Monaco
Monegasque euro coins
On the basis of an agreement with the EU, Monaco can distribute Euro Coins, too.
Agreements on monetary relations (Monaco, San Marino, the Vatican and Andorra)
With the introduction of the euro, it was necessary to redefine monetary relations with neighbouring countries which had no national currency but which used the former national currencies of Member States of the euro zone, such as Monaco. Monetary agreements were drawn up setting out the conditions under which these countries would be permitted to use the euro. They were also allowed to mint a certain number of euro coins, which are now sought after by collectors.
Monaco
Council Decision 1999/96/EC of 31 December 1998 on the position to be taken by the Community regarding an agreement concerning the monetary relations with the Principality of Monaco.
Monegasque euro coins feature two separate designs for the first two series of coins, and also two separate designs for the 1 euro and 2 euro coins for the first series. All the coins are inscribed with the word "Monaco" and the twelve stars of Europe.
There are two series of euro coins in circulation.
The first series depicts, on the 2 euro coin, HSH Prince Rainier III. A double portrait of HSH Prince Rainier III and HSH Hereditary Prince Albert appears on the €1 coin. The 10, 20 and 50-cent coins depict the Prince’s seal. The coat of arms of the Sovereign Princes of Monaco is shown on the 1, 2 and 5-cent coins.
The second series shows, on the 2 euro and 1 euro coins, a portrait of HSH Prince Albert II. HSH Prince Albert’s monogram is depicted on the 10, 20 and 50-cent coins. The coat of arms of the Sovereign Princes of Monaco is the main feature of the design on the 1, 2 and 5-cent coins.
2 euro Edge lettering of the 2 euro coin: 2**, repeated six times, alternately upright and inverted.
2 euro commemorative: 25th anniversary of the death of Princess Grace
The coin features an effigy of Princess Grace, to the right of which appear the word ‘MONACO’, the mint mark, the year ‘2007’ and the engraver’s mark. The name of the artist, ‘R.B.BARON’, is shown under the Princess’s hair. The 12 stars of the European Union are depicted on the outer ring of the coin.
The Principality of Monaco shall be entitled from 1 January 1999 to use the euro as its official currency, taking the necessary
internal legal steps pursuant to Regulation (EC) No 1103/97, Regulation (EC) No 974/98, as amended, and Regulation
(EC) No 2866/98, as amended.
Article 2
1. From 1 January 2002, the Principality of Monaco shall grant legal tender status to banknotes and coins in euro. The
Principality of Monaco shall undertake, on the one hand, to take internal legal measures in order to apply to its territory the
Community provisions concerning euro banknotes and coins, and, on the other hand, to adopt a timetable identical to that
laid down by France for the introduction of euro banknotes and coins.
2. Currency circulating within the Principality of Monaco shall be withdrawn according to the procedure agreed between
the Government of the French Republic and the Government of His Serene Highness the Prince of Monaco and according to
a timetable identical to that laid down by France for the withdrawal of currency circulating within its own territory.
France shall proceed to withdraw the currency of the Principality of Monaco in circulation within its territory following
procedures agreed with the Government of His Serene Highness the Prince of Monaco.
Article 3
The Principality of Monaco shall not issue banknotes. It shall only issue coins after agreement with the Community
concerning the conditions of issuance. The conditions relating to issuance of a limited quantity of euro coins from 1 January
2002 and Monegasque coins in francs until 31 December 2001 are laid down by this Agreement in the following Articles.
Article 4
1. From 1 January 2002, the Principality of Monaco may issue euro coins with an annual volume of 1/500th of the
quantity of coins minted in France.
2. Euro coins issued by the Principality of Monaco shall be identical to euro coins issued by the Member States of the
European Community having adopted the euro with respect to the face value, legal tender status and technical and design
characteristics on the common side and the common designcharacteristics on the national side.
3. The competent Community authorities shall be notified in advance of the design characteristics of the national side.
Article 5
1. The annual volume of euro coins issued by the Principality of Monaco shall be added to the volume of coins issued
by France for the purposes of ECB approval of the total volume of coins minted by France, as required by Article 106(2) of the Treaty establishing the European Community.
2. Not later than 1 September each year, the Principality of Monaco shall notify France of the volume and the face value of
the euro coins that it intends to issue during the following year.
Article 6
1. The Principality of Monaco may issue euro collector coins. Their value shall be taken into account with regard to
the annual volume laid down by Article 4. The issuance of collector coins by the Principality of Monaco shall conform
with the guidelines concerning collector coins issued by the Member States of the European Community which require,
inter alia, the adoption of technical and design characteristics and unitary values allowing these coins to be distinguished
from those intended for circulation.
2. Collector coins issued by the Principality of Monaco shall not be legal tender in the European Community.
Article 7
1. France shall place the Hotel de la Monnaie de Paris at the disposal of the Principality of Monaco to mint its coins.
2. The Principality of Monaco shall undertake to use the Hotel de la Monnaie de Paris and no other establishment to
mint its coins.
|
