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Euro 1 Cent Coin
Euro 1 Cent Coin design
The 1 euro cent coin front design features the denomination, followed by the globe, which is superimposed on a linear pattern with six lines in which its terminations have a star; six stripes and twelve stars that allude to the same ones found on the flag of the European Union. The reverse of the coin illustrates an oak tree branch and the issue date, surrounded by the twelve stars from the European Union flag. This coin is part of the 2002 – 2021 series, its rim is plain, and its color is bronze.
Text: A 2011, 1 EURO CENT LL
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Establishment of the Euro
Firstly, The provisions agreed upon in the Maastricht Treaty established the euro in 1992.
As a result, the then president of the European Commission, Jacques Santer, established the name “euro” in 1995.
Member States used a triangulation process through the euro due to differences in their national currency conventions.
Therefore, the Member States fixed the European Monetary Unit (ECU) at 1:1 per euro.
However, the Member States used the European Monetary Unit as the accounting unit, but not as their currency.
After that, on January 1, 1999, the Member States introduced the currency in a non-physical form. The members’ national currencies ceased to exist independently, and the euro replaced the European Monetary Unit (ECU).
Even so, the Member States continued to use their currencies as a legal tender until the introduction of the new euro on January 1, 2002.
The first coin series was issued in 1999, and the denominations range from 1¢, 2¢, 5¢, 10¢, 20¢, and ¢50, €1, and €2.
Euro currency symbol
The official currency symbol: €/¢. The European Central Bank manages and administers the euro, which sets monetary policy.
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