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Euro Coins: New Commission Recommendation

Started by chrisild, January 11, 2009, 02:26:45 PM

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chrisild

The European Commission has recently issued a new recommendation regarding "the national sides and the issuance" of euro circulation and commemorative coins. No revolutionary new concepts there, hence the somewhat dull subject of this topic. :)  Nevertheless, let me point at two parts of the document.

In the first part (background/reasons), it says:
(4) According to common practice among participating Member States, euro coins intended for circulation, including commemorative coins intended for circulation, should be put into circulation at face value. This does not exclude, however, that a minor proportion of the total value of issued coins is sold at a higher price if produced with a special quality or presented in special packaging.

Emphasis by me. Now in (15) on page 3 you see that the document also applies to the three non-EU countries which issue euro coins. Hmm, I wonder whether that means the "major proportion" of MC/SM/VA coins will be issued at face from now on ...

In the second part (recommendations) there is this point:
5. Changes to the national sides of regular euro coins intended for circulation - Without prejudice to point 6, the designs used for the national sides of the euro coins intended for circulation denominated in euro or in cent should not be modified, except in cases where the Head of State referred to on a coin changes. Issuing Member States should, however, be allowed to update the design of euro coins depicting the Head of State every fifteen years in order to take account of a change in the appearance of the Head of State.

Again I added the emphasis (underlined part). So let us hope that the monarchs depicted on the euro coins from some member states do not age too quickly. ;)

The full text is here:
http://ec.europa.eu/economy_finance/publications/publication13692_en.pdf
Commission recommendation of 19.12.2008 on common guidelines for the national sides and the issuance of euro coins intended for circulation (also availabe in French and German, just replace the language code)

Note that this is something the European Commission "recommends". Unlike an EU regulation (which is directly binding law) or an EU directive (which needs to be adapted to local law by each member state), such a recommendation is rather a guideline.

Christian

Figleaf

#1
Quote from: chrisild on January 11, 2009, 02:26:45 PM
(4) According to common practice among participating Member States

That's diplomatspeak for "if you have done silly things before you can continue doing them". No change for Vatican, San Marino and Monaco.

Recommendations are a bit more than a guideline. They are a threat from the European Commission: behave yourself and act reasonably in accordance with this recommendation, or there'll be a regulation or a directive. Since the recommendation goes little beyond existing practice (maybe only Belgium is concerned, with its different royal portraits), it's probably aimed mainly at containing the profit motive of the new member states.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

chrisild

Quote from: Figleaf on January 11, 2009, 06:14:27 PM
No change for Vatican, San Marino and Monaco.

Probably so. However, the Council apparently endorses that recommendation. http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/105990.pdf

Quote from that text: "Euro coins intended for circulation should be put into circulation at face value. This does not exclude that a minor proportion of issued euro coins is sold at a higher price, if justified by reasons such as special quality or packaging. This rule should apply as from 1 January 2010 for the countries having Monetary Agreements with the European Community. The Commission is invited to review the functioning of the existing Monetary Agreements and to consider possible increases in the ceilings for coin issuance."

Note that the monetary agreements (MC, SM, VA) are specifically addressed in the Council conclusions. Sounds like "Hello you three, do you hear us?" to me. :) The last sentence could turn into interesting news particularly for Monaco and Vatican collectors. Ah well, we will see ...

Christian

Figleaf

The remaining escape hatch is "intended for circulation". No need to change anything for the three dwarfs, I think.

I vaguely remember someone describing diplomacy as the art of petting and saying "nice doggy" while looking for a big stick. There ain't no stick to get the Italians and French to behave in his area. It's too unimportant for all concerned, so the status quo wins. The dwarfs themselves have no say in the matter, of course.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

chrisild

Oh you pessimist. ;)

Actually the French and Italian governments do "behave" in this regard. Is it their fault that those small non-EU countries issue hardly any circulation coins or none at all? Sure, Monaco is in a tough position because it has a relative limit (1/500 of the annual French volume) rather than the amounts that San Marino and the Vatican have. But the monetary agreements that MC/SM/VA have with the EU, regarding the euro issues, are basically just continuations of what they had with FR and IT before, regarding the franc/lira issues.

May well be that all this is unimportant. But it is obvious what the Council aims at - no more "sets only" issues; guess that the Grace €2 piece was a great example of how not to do it in the future. I still think that the Council did not just include the issue in its conclusion as a l'art pour l'art piece. Whether that actually means we can later find Monaco or Vatican coins "in the wild" is an entirely different issue ...

Christian

a3v1

It seems as if from 2010 the three Euro ministates seriously will be thumbscrewed. See: http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/105990.pdf
No one can predict what this will mean for collectors. The majority of uncirculated coins has to be issued at face value. But probably will be hard to get (as they will be scooped up by traders) and only a small quantity of BU coinsets available. 
Regards,
a3v1
Over half a century of experience as a coin collector.
-------------
Money is like body fat: If there's too much of it, it always is in the wrong places.

chrisild

Hmm, where have I seen that link before? ;) But I agree, we do not know yet what this will actually mean for collectors. If the result is that the same "volume" of coins just has to be distributed differently as from next year, many of us may even end up paying more. However, I still hope that the "possible increases in the ceilings for coin issuance" mentioned in the Council Conclusions will put into reality and thus alleviate the situation ...

Christian

izotz

By the way, Spain will revise the design of its national sides in order to comply with the common guidelines recommended by the European Commission. You can read more about this here :
http://ec.europa.eu/economy_finance/the_euro/coins8656_en.htm

QuoteNational sides
Spain – España

The €1 and €2 coins show a portrait of His Majesty King Juan Carlos I de Borbón y Borbón. The edge lettering on the €2 coin is '2**' repeated six times, alternately upright and inverted.

The 10, 20 and 50-cent coins show the bust of Miguel de Cervantes, author of Don Quixote of La Mancha, a masterpiece of Spanish and world literature.

The 1, 2 and 5-cent coins show the cathedral of Santiago de Compostela, a jewel of Spanish Romanesque art and one of the most famous places of pilgrimage in the world.

The national designs of the Spanish euro coins were selected by the then Head of Government José María Aznar.

In 2010, Spain will revise the design of its national sides in order to comply with the common guidelines recommended by the European Commission, as endorsed by the Council conclusions of 10 February 2009. The new national sides will continue to bear the same effigy of His Majesty King Juan Carlos I, but the date of issuance will now feature in the inner part of the coin, together with the mintmark and the name of the issuing country. The twelve stars in the outer ring will now be depicted as on the European flag, with no raised section around them.

Coins from previous years featuring the old design will nevertheless remain valid.


http://img6.imageshack.us/img6/8039/espaa2010.jpg

chrisild

Thanks for the info! Cannot really say that I like the modified designs better; the "stripes" on the current coins I find interesting. Oh well, I will of course need to get the new pieces.

But what about the girls? ;) What I mean is, I vaguely remember plans to have Clara Campoamor, or maybe some other woman, on a circulation coin. Seems those plans did not make it ...

Christian

Bimat

I don't like the old design on the Spanish Euro coins,and so the new proposed design ;)
Is there any other country also changing its national side next year?
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

izotz

Quote from: chrisild on July 15, 2009, 06:11:13 PM
Thanks for the info! Cannot really say that I like the modified designs better; the "stripes" on the current coins I find interesting. Oh well, I will of course need to get the new pieces.
I hope you know where to find them on 2010 as well as the conmemorative  ;)

Quote from: chrisild on July 15, 2009, 06:11:13 PM
But what about the girls? ;) What I mean is, I vaguely remember plans to have Clara Campoamor, or maybe some other woman, on a circulation coin. Seems those plans did not make it ...

Christian
That was a proposal from the Socialist Party to reinforce what they call "parity". But it seems those plans will have to wait.

I really liked the idea of changing the national side, but I'm a little upset because that doesn't make a big change on design.  :)

Figleaf

Phooey. I thought I'd have plenty of time to collect the "new map" coins and now I am suddenly in a hurry. Unfair. ;)

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

chrisild

Ah, but maybe izotz can help both you and me once these are issued? ;)

Christian

izotz

Quote from: izotz on July 15, 2009, 07:15:37 PM
I hope you know where to find them on 2010 as well as the conmemorative  ;)

Quote from: chrisild on July 16, 2009, 10:54:24 AM
Ah, but maybe izotz can help both you and me once these are issued? ;)

Sure, that's what I meant. :)

Bimat

Quote from: chrisild on July 16, 2009, 10:54:24 AM
Ah, but maybe izotz can help both you and me once these are issued? ;)

Christian
izotz,
Count me In,too!

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.