The euro as the official currency was released in 1999, replacing the currency unit used before in the European currency system called ECU (existing since 1978) in a 1: 1 ratio. At first, it was a cashless circulation - a kind of parallel currency of countries that were members of the economic and monetary union. Euro cash (coins and banknotes) appeared on January 1, 2002.
Some statistics
Today, the euro is the official currency of seventeen countries that are part of the Eurozone, and also has circulation in nine other countries that are not part of it (seven of them are located in Europe). If you put together all the euros, then the total amount of cash in circulation will be even more than the number of US dollars.
Banknote denominations and design
Currently, the following denominations of euro banknotes are known: 5 €, 10 €, 20 €, 50 €, 100 €, 200 € and 500 € - a total of seven items. One euro is equal to 100 euro cents. In addition to banknotes, there are coins in circulation. The smallest among them is a coin of one cent denomination , and the largest - two euros.
The design of the new currency was chosen by the European Monetary Institute at a specially assembled consultation. Of the 44 entries, Euro sketches by Robert Kalina were selected. The denomination of banknotes, according to the proposed project, depends on the size of banknotes. Each banknote shows a map of the European Union and its flag. There are also inscriptions in all languages, made in Latin and Greek transcriptions. In May 2013, a banknote of 5 € was put into circulation with the inscription in Cyrillic.
Each banknote has images of windows and gates on the one hand, and bridges on the other. They decided to abandon the image of really existing buildings, replacing them only with styles of European architecture of various eras.
Euro banknotes have several degrees of protection: special paper, watermarks, embedded metallized strip, holograms, special printing, etc. But, nevertheless, this did not save the new currency from fakes.
What denominations of euro banknotes are most often faked?
Following the advent of the new currency, naturally, their fakes also appeared. Fake Euros came to Russia about six months after their appearance in Europe. As it always happens with the advent of new money, the first fakes did not differ in the quality of execution. But, as they say, there is no limit to perfection - over time, it becomes more difficult to distinguish a fake from the original. Fake Euros come to Russia mainly from abroad. Most often, European currency is faked in Lithuania, and sold in Germany. Denominations of euro banknotes, which are most often faked in Europe, are 10, 20 and 50 €. In Russia, these are banknotes in denominations of 50, 100 and 200 €. Also in the countries of the European Union counterfeit coins of 2 € denomination are in circulation.
How to distinguish a fake bill from a real one?
If you do not know the original in front of you or a fake, pay attention to the following points:
- Tactile sensations. Banknotes are printed on special paper, which is rarely found in everyday life. In addition, the images on the front side of the banknote are made by metallography, which provides surface relief.
- Cinegram (metallic element pressed into the paper). When turning from different angles, it changes its reflection.
- Water marks. They should be clear and contrasting.
- All denominations of Euro banknotes are printed using special ink. When you change the angle of inclination should change their color, not shade.
In conclusion, it should be noted that there is still no universal way to identify a fake. Even specialists with sensitive detectors can make mistakes. By the way, according to statistics, counterfeit dollars are much more common than the euro.