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 designer's initials "ΓΣ"
and the years "1999‐2009".
National characteristics : Above is the name of the issuing country "Portugal", the acronym of the occasion of issue
below is "UEM". The coin was minted without mint mark by the Portuguese mint Imprensa Nacional‐ Casa da
Moeda S.A. in Lisbon. |
