What Regulation (EU) No 651/2012 of the European Parliament and of the Council of 4 July 2012 on the issuance of euro coins requires
Regulation (EU) No 651/2012 establishes binding rules for the issuance of euro coins by Member States whose currency is the euro, addressing the lack of mandatory provisions that previously resulted in different practices among Member States and failed to achieve a sufficiently integrated framework for the single currency. The Regulation covers three types of euro coin: circulation coins, commemorative coins, and collector coins, each subject to distinct legal requirements regarding issuance, volume limits, legal tender status, and physical characteristics. Member States may issue circulation coins at face value, with a minor proportion not exceeding 5% of the cumulated total net value and volume permitted to be sold above face value under specific conditions. Commemorative coins are limited to two issues per year per Member State, subject to volume ceilings tied to the cumulated total net number of 2-euro coins in circulation. Collector coins have legal tender status only in the issuing Member State, must be readily distinguishable from circulation coins through defined physical criteria, and Member States must take all appropriate measures to discourage their use as a means of payment. Prior to the destruction of fit circulation coins, Member States are required to consult each other via the relevant subcommittee of the Economic and Financial Committee and inform the mint directors of euro-area Member States.
Pillar: Legal & IP Sovereignty · Authority: The European Parliament and the Council of the European Union · Version: 1.0.0 · Last updated:
Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32012R0651
SHA-256 integrity: 6b732342a475fda24357e219dc8a2a25c93df9224676cbe37a083d9c6b535143
Primary Citations — 8 traced to source
- Recital (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.'
- Article 3(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.'
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