Author Topic: Euro Estonia  (Read 30922 times)

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Offline Figleaf

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Re: Euro Estonia
« Reply #90 on: January 05, 2011, 03:33:43 PM »
Looks a little overblown to me. You can't expect a coin to have the same resolution as Google Earth. It does give fair warning about the dangers of using a map on a coin (a pretty drab device to begin with). I don't expect the coins to be recalled or redesigned.

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

Offline chrisild

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Re: Euro Estonia
« Reply #91 on: January 05, 2011, 04:54:28 PM »
Does anyone know how many Estonian euro coins (of each denomination) have been put into circulation (or planned to be put in circulation)?

Not yet. What is known is that the total weight of the coins is about 600 tons. Maybe we should have stopped these trucks
and demanded to count the pieces. ;D

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Estonian post will probably start selling Euro coins after January 10, but they will charge a premium ::)

Yep, I added links to the central bank's and postal service's pages to our "Mint Addresses" topic right on New Year's Day. :) http://www.worldofcoins.eu/forum/index.php/topic,31.0.html
As for what they will actually charge, we'll see. But no, I don't expect them to give the pieces away at face ...

(Edit) Judging from this page http://www.post.ee/9522 they do "sell" the raw coins at their face value plus shipping. Have not actually tried it out though.

Christian
« Last Edit: January 07, 2011, 12:10:47 PM by chrisild »

Offline Figleaf

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Re: Euro Estonia
« Reply #92 on: January 07, 2011, 11:17:53 AM »
Clinic Receives First Euro-sick Patient
Published: 06.01.2011 12:26

The first serious threat accompanying the currency changeover in Estonia received a benign solution on January 5, when a brand new 20-cent coin was retrieved from a toddler's intestines at the Tallinn Pediatric Hospital.

The head of the hospital, Karin Luts, told uudised.err.ee that swallowed coins are not such an extraordinary sight at the emergency ward. According to Luts, ingested household appliance batteries are much more dangerous for kids' health, potentially causing tissue burning, lesions and even death if left untreated.

The doctor's age-old advice, which apparently hasn't been repeated enough, was to keep all tiny bits and pieces out of the toddlers' reach.

Source: ERR
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline chrisild

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Re: Euro Estonia
« Reply #93 on: January 07, 2011, 12:12:18 PM »
Uh.oh. I can already imagine the headlines in British media. "Euro makes Estonians sick" ... 8)

Christian

Offline Figleaf

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Re: Euro Estonia
« Reply #94 on: January 07, 2011, 12:28:24 PM »
"Estonians find euro hard to digest!"

 :)

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

Offline Rasmus

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Re: Euro Estonia
« Reply #95 on: January 07, 2011, 06:36:20 PM »

(Edit) Judging from this page http://www.post.ee/9522 they do "sell" the raw coins at their face value plus shipping. Have not actually tried it out though.

Christian


Most probably Estonian Bank will continue previous activity, when circulation coins "exchanged" at face value for cash only at Estonian Bank Museum outlet.

Currently from all biggest bank offices can buy so-called firms startkits at 111€ or 198€ value of coinrolls.
Rasmus

Offline Figleaf

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Re: Euro Estonia
« Reply #96 on: January 12, 2011, 02:55:43 PM »
Estonia has money to burn after euro switch
JANUARY 11, 2011
 
TALLINN, Estonia - After switching to the euro on January 1, the Baltic state of Estonia has found a way to dispose of its old currency: burn it to heat homes.

"Estonian kroons that have been collected due to the switch to the euro are first being shredded, then pressed, and after that, used at the Iru Power Plant to heat some districts of Tallinn," Rait Roosve, head of the Estonian central bank's cash and security department, told reporters on Tuesday.

"There are not really many options for what to do with notes once they are no longer valid," he added.

Estonia is the 17th member of the European Union to adopt the euro, the third ex-communist state after Slovenia in 2007 and Slovakia in 2009, and the first from the former Soviet Union.

The Estonian kroon was created in 1992, the year after the nation of 1.3 million won independence from Moscow. Estonia joined the EU in 2004.

The kroon will remain legal tender in parallel with the euro until midnight Friday, but Estonians have been changing their cash fast.

"By 1300 local time (1100 GMT) Monday there were 255 million euros in circulation in Estonia and a slightly lower sum in kroons, worth around 250 million euros," central bank spokesman Viljar Raask told AFP on Tuesday.

By Monday evening, 80 per cent of all cash purchases in Estonia were already being made in euros, authorities said.

Kroon coins are meanwhile being bashed out of shape.

The metal is used by the central bank either to strike euros — Estonia's are minted by neighbouring Finland — or being sold to other countries to make their own coins.

Due to the kroon's lower value than the euro — the fixed rate is 15.6466 kroons to one euro — its coins gradually fell from favour over recent years.

Estonia, which is known for its hi-tech sector, is already one of the most cash-free economies in Europe, at the cutting edge of debit card, Internet and mobile phone payments.

Source: Montreal Gazette
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Magus

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Re: Euro Estonia
« Reply #97 on: March 02, 2011, 02:30:32 AM »
Looks a little overblown to me. You can't expect a coin to have the same resolution as Google Earth. It does give fair warning about the dangers of using a map on a coin (a pretty drab device to begin with). I don't expect the coins to be recalled or redesigned.
Which is too bad, because it's really a pity that Estonia didn't do anything more interesting with their national side. If they wanted that map, fine, but do something else too. If nothing else, it would probably boost sales of the mint sets if there were multiple designs across the denominations. ;D

Offline chrisild

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Re: Euro Estonia
« Reply #98 on: March 03, 2011, 11:20:56 AM »
If they wanted that map, fine, but do something else too.

Except that the Estonians actually selected this concept - the map and nothing but the map - for all denominations. The vote was in December 2004, and that is what people (well, those who participated) preferred.

(All Designs) http://www.eestipank.ee/pub/en/EL/ELiit/euro/kavand/
(Vote Result) http://www.eestipank.ee/pub/en/press/Press/pressiteated/pt2004/_20041215.html

Christian

Offline Figleaf

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Re: Euro Estonia
« Reply #99 on: March 08, 2011, 02:35:04 PM »
Counterfeit Euro Coins Discovered in Tallinn
25.02.2011

A relatively rare find was made by the staff in a downtown Tallinn cash center - counterfeit euro coins.

Police spokeswoman Aleksandra Solntseva told rus.err.ee that two 1-euro coins and one 2-euro coin were discovered at the center, as was a forged 50-euro note.
On the same day, a counterfeit 50-euro note was also found in a bank branch in downtown Tallinn.

Last month a specialist from Swedbank had told ERR that euro coins were impossible to fake. According to the European Commission, however, 186,000 counterfeit coins were removed from circulation in 2010, up 8 percent from the year before.

So far this year there have been fewer than ten instances of counterfeit euro coins being discovered in Estonia, Solntseva said.

Source: ERR
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Figleaf

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Re: Euro Estonia
« Reply #100 on: April 15, 2011, 01:47:21 AM »
Over 500 tonnes of kroon sents will remain in circulation
Juhan Tere, BC, Tallinn, 22.03.2011
   
According to the Estonian Banking Association, over 500 tonnes of kroon coins are still in circulation and most of them will never be returned to banks, LETA/National Broadcasting reports.

“Many people will certainly want to keep the sents, many sents have been lost and many have travelled abroad in the pockets of foreigners,” Banking Association adviser Enn Riisalu told National Broadcasting’s news portal.
 
In October last year, the Association launched a campaign calling people to return kroon sents to banks. At the start of the campaign nearly a thousand tonnes of sents with total value of 165 million kroons were in circulation.
 
“We collected nearly 400 tonnes. Since the nominal value of Estonian coins was relatively low, we set an aim of getting around a half. We didn’t get a half but we almost fulfilled the aim,” he said.
 
Riisalu said that recently the amount of people exchanging kroon coins is small and the Banking Association does not intend to advertise the possibility separately as counting them is time-consuming after coin counting machines were adjusted to euros.

Source: Baltic Course
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Figleaf

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Re: Euro Estonia
« Reply #101 on: June 30, 2011, 10:18:12 PM »
Man Brings 400 Kilos of Coins to Bank
29.06.2011

Almost seven months after the nation ditched its old currency, a Volkswagen Passat drove up to a bank in Tallinn, the car's rear end almost scraping the ground from the 400 kilograms of Estonian kroon coins it was hauling.

Wheelbarrowing his boxes of money - amounting to some 12,000 euros and still in the original central bank packaging - through the bank's parking lot, the mysterious man was terse in his explanation, reported Õhtuleht.

Kroons can be exchanged to euros indefinitely at the central bank of Estonia, after the country became the newest member of the Eurozone in January.

However, commercial banks will only accept kroons without charging a service fee till the end of the year. The coin man said a business client from Germany had sent him the money, allegedly fearing that the exchange deadline for commercial banks was July.

According to the Bank of Estonia, there were still 58 million euros worth of kroon coins at large as of June 27.

Source: Estonian Public Broadcasting
An unidentified coin is a piece of metal. An identified coin is a piece of history.