Description : In 1972 the European Exchange Rate Mechanism was created to
limit fluctuations between currencies. In 1975 a basket of currencies was used to define the European Currency Unit (ECU)
and in 1979 the European Monetary System was created. 1990 saw the start of the first stage of European Economic and
Monetary Union (EMU) and in 1994 the second stage, during which the European Monetary Institute prepared for the establishment of
the European Central Bank (ECB). In 1996 the European Commission established the currency abbreviation €. In 1999, saw the
third stage of EMU, all participating currencies were linked to the euro by exchange rate parity. In 2008 a design
competition was held for the EMU Community Edition coin and out of 5 proposals a winner, Georgios Stamatopoulos was
determined by an online vote. The design shows a stylised human stick figure on the blank space of an irregularly shaped
ancient coin, with the € symbol on the left arm. It symbolises the transition from the bartering
of archaic times to European Economic and Monetary Union (EMU). Below the € symbol are the years "1999‐2009".
National characteristics : Above is the name of the issuing country "LËTZEBUERG" (Luxembourg), the acronym of the
occasion of issue below is "UEM". Above the number "1999" is a square around the designer's "ΓΣ" deviating from the
usual place due to multi-view minting. The logo of mint master Maarten Brouwer, the sails of the three‐masted
clipper Nederland, flanks the 6 o'clock star on the left and the staff of Hermes the mint mark of the Dutch mint
Koninklijke Nederlandse Munt in Utrecht on the right. Above the motif is the portrait of Grand Duke Henri designed by
Alain Hoffmann as a latent image, since according to Luxembourg law no national coin may be issued without the portrait
of the head of state (or at least his monogram). |
