Introduction
Before being minted, a commemorative 2 euro coin goes through a complex process. Indeed, no country in the eurozone can issue a coin without preparation. In addition, the issuance of a commemorative 2 euro coin strictly complies with European regulations. This article examines the conditions for issuing a 2 euro coin as well as the rules allowing a country to issue it.
First of all, only 2 euro coins can be commemorative, which is prohibited for other euro coins in current circulation (1ct, 2ct, 5ct, 10ct, 20ct, 50ct and 1 euro).
What are the mandatory characteristics of a commemorative 2 euro coin?
It is important to know that a commemorative 2 euro coin must comply with strict characteristics defined by the European Council. Furthermore, like a classic 2 euro coin, it must meet the following technical specifications:
| Diameter | 25.75 mm |
| Thickness | 2.2 mm |
| Weight | 8.5 grams |
| Color | white outer ring, yellow central part |
| Edge | Fine groove engraving |
The coin will also have to meet other criteria
It must not include elements of the European side on the national side, for example, neither the map of Europe nor the “2”. (art. 3 of Council Regulation No 566/2021 of 18/06/2012)
Each national side must clearly indicate the identity of the issuing country (name or abbreviation) and the year of issue. (art.4 and article 1 sexies 1. of Council Regulation No 566/2021 of 18/06/2012)
The national side must have twelve stars. (art.6 and article 1 sexies 1. of Council Regulation No 566/2021 of 18/06/2012)
The edge must be identical to that of the national coin. (Article 1 nonies 2. of Council Regulation No 566/2021 of 18/06/2012)
As of 2009, the name “EURO” must not appear on national sides, unless it is written in a different alphabet. (Article 3-1 of Commission Recommendation L9/52)
What theme could give rise to the issue of a commemorative 2 euro coin?
The coin should theoretically commemorate an event of major national or European importance.
Article 8 of Council Regulation No 566/2012 of 18 June 2012 states:
It is appropriate to allow a Member State to issue commemorative coins which are to be used for commemorations of major national or European importance, while commemorative coins issued collectively by all Member States whose currency is the euro should be reserved for commemorations of the highest importance at European level. The €2 coin is the most suitable coin for that purpose, in particular because of its large diameter and its technical characteristics, which provide adequate protection against counterfeiting.
How many different commemorative 2 euro coins can a state issue each year?
Since 2012, a Member State may only produce two commemorative €2 coins per year, except in the following cases:
- A commemorative €2 coin is issued collectively by all Member States using the euro.
- On the occasion of the temporary vacancy or provisional occupation of the office of Head of State. (reference: Article 4 paragraph 1 of Regulation No 651/2012 of the European Parliament and of the Council of 04/07/2012)
For example, in 2015, to commemorate the 30th anniversary of the European flag, countries such as Germany, France and Luxembourg issued three coins in the same year.
What is the maximum quantity of coins a country can issue per issue?
A country cannot issue as many 2 euro coins as it wants. The European Council imposes strict rules on this.
The total number of commemorative coins put into circulation per issue must not exceed the higher of the following two ceilings:
- 0.1 % of the total cumulative net number of EUR 2 coins put into circulation by all Member States whose currency is the euro up to the beginning of the year preceding the year of issue of the commemorative coin. This ceiling may be increased to 2.0 % of the total cumulative net number of EUR 2 coins of all Member States whose currency is the euro if the commemoration is to commemorate a highly symbolic and generally recognised event, in which case the issuing Member State shall refrain from further issues of commemorative coins using the increased ceiling for the following four years and shall justify the choice of this higher ceiling.
- 5.0% of the total cumulative net number of EUR 2 coins put into circulation by the Member State concerned up to the beginning of the year preceding the year of issue of the commemorative coin.
reference: Article 4 al.2 of regulation n°651/2012 of the European Parliament and of the Council of 04/07/2012
Any draft coin issued by a Member State must be validated by a committee of the European Council and, if approved, will be published in the Official Journal.
You can also take a look at the characteristics of a 2 euro coin by clicking on this link.
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