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Portuguese euro coins show three different designs for each of the three series of coins. However, they are quite similar in that all contain old Portuguese royal mints and seals within a circle of seven castles and five escutcheons with silver bezants (all similar to what can be seen in the coat of arms and flag of Portugal) and the word "Portugal".
Greek euro coins dated 2002 without these mint marks were produced in Athens, Greece. All Greek euro coins bear the standard Greek mint mark symbol of the Athens mint. Greece (2002–present) Athens Stylised acanthus leaf: Italy: Rome R: Letter: Lithuania: Vilnius Lietuvos monetų kalykla (Lithuanian Mint House, LMK) logo: Luxembourg (2002–2004)
Inflation throughout the 20th century made centavos essentially worthless by its end, with fractional value coins with values such as 50 centavos and 2 + 1 ⁄ 2 eventually withdrawn from circulation in the 1990s. With the entry of Portugal in the Eurozone, the conversion rate to the euro was set at 200.482 = €1. [2]
The euro came into existence on 1 January 1999. [2] It had been a goal of the European Union (EU) and its predecessors since the 1960s. [2] The Maastricht Treaty entered into force in 1993 with the goal of creating economic and monetary union by 1999 for all EU states except the United Kingdom and Denmark (even though Denmark has a fixed exchange rate policy with the euro).
The Monnaie de Paris in Pessac is the exclusive producer of French euro coins. [16] It also mints Monégasque euro coins [17] and alternates with the Spanish Royal Mint for the production of Andorran euro coins. [18] It has also minted Greek euro coins, [12] Luxembourg euro coins, [13] and Maltese euro coins. [19] [20]
In 2002, notes and coins began to circulate. The euro rapidly took over from the former national currencies and slowly expanded around the European Union. Denominations of the notes range from €5 to €500 and, unlike euro coins, the design is identical across the whole of the eurozone, although they are issued and printed in various member ...
All de facto present currencies in Europe, and an incomplete list of the preceding currency, are listed here. In Europe, the most commonly used currency is the euro (used by 26 countries); any country entering the European Union (EU) is expected to join the eurozone [ 1 ] when they meet the five convergence criteria. [ 2 ]
The Cape Verdean escudo is, and the Portuguese escudo was, subdivided into 100 centavos. Its symbol is the Cifrão, a letter S with two vertical bars superimposed used between the units and the subdivision (for example, 25 50). In Spain and its colonies, the escudo refers to a gold coin worth sixteen reales de plata or forty reales de vellón.