Finnish euro coins

Finnish euro design

For images of the common side and a detailed description of the coins, see euro coins.

The first sets of euro coins were minted in 1999 and the euro was put into circulation in the eurozone in 2002. Like Belgium, France, the Netherlands and Spain, the first euro coins of Finland are marked 1999, not 2002.

Finnish euro coins dated 1999–2006 carry the mint mark M which is the initial of the mint master at the Mint of Finland, Raimo Makkonen.

The edge reads SUOMI FINLAND (the name of the country in Finnish and Swedish, its two official languages) and contains three lion heads

Amendments

In December 2006, the Bank of Finland announced the following:

"The national sides of euro coins will be amended so that each issuing Member State will add its name or abbreviation (FI for Finland) on the coins. On Finnish coins the first letter of the Mint of Finland’s President and CEO (M for Raimo Makkonen) will also be replaced with the Mint’s logo. Amendments to the national sides affect all denominations of euro coins.

"Each euro area Member State will decide on the schedule for the introduction of their new coins. In Finland the new coins will be put into circulation in January 2007. The current coins will remain valid, and coins in stock will be put into circulation as necessary. This way coins with the new designs will mix with the current coins in circulation."

Finland was the first state in the EMU (European Monetary Union) to implement these changes.

The edge reads SUOMI FINLAND (the name of the country in Finnish and Swedish, its two official languages) and contains three lion heads

Finland again amended the design of its coins in the 2008 issue, repositioning the mint mark and putting it on the inside of the coin.

Circulating mintage quantities

The following table shows the mintage quantity for all Finnish euro coins, per denomination, per year (the numbers are represented in millions).

• No coins were minted that year for that denomination

** Data not available yet

*** Small quantities minted for sets only-- €2 CC €2 commemorative coins

Identifying marks

Main article: Identifying marks on euro coins

Other commemorative coins (collectors' coins)

Main article: Euro gold and silver commemorative coins (Finland)

Finland has a collection of euro commemorative coins, mainly in silver and gold, although other materials are used. Their face values range from 5 euro to 100 euro. This is mainly done as a legacy of old national practice of minting gold and silver coins. These coins are not intended to be used as means of payment, so generally they do not circulate.

€2 Commemorative coins

Main article: €2 commemorative coins

File:Sondermünze von Finnland 60 Jahre Vereinte Nationen und 50 Jahre UN-Mitgliedschaft Finnlands.xcf|60th anniversary of the United Nations and the 50th anniversary of Finland's UN membership (2005) File:Пам'ятна монета 2 євро 2007 року, серія Римський договір, Фінляндія.png|50th Anniversary of the Treaty of Rome (2007) File:2 Euro - Finnische Saunakultur.jpg|Commemorating Finnish Sauna culture (2018)

International coin trading

In June 2009, Finland and the Netherlands coordinated a unique trade at European level. Excess Finnish 5 cent coins were traded for Dutch two-euro coins. In total five truckloads containing 30 million five cent coins were traded for 3 million Dutch two-euro coins. This trade saved both countries a lot of money in production and material costs. An estimated 120,000 kg of metal has been saved with this trade alone. In 2010 this exact trade has been repeated, helping Finland rid some of its 5-cent excesses, pumping in a new supply of two-euro coins, and saving both countries a lot of money.

Usage of 1 cent and 2 cent coins

Finnish businesses and banks have employed a method known as "Swedish rounding" when tallying sums. Due in large part to the inefficiency of producing and accepting the 1 cent and 2 cent coins, Finland has opted to remove these coins from general circulation in order to offset the cost involved in accepting them.

While individual prices are still shown and summed up with €0.01 precision, the total sum is then rounded to the nearest five cents when paying with cash. Sums ending in 1, 2, 6 and 7 cents are rounded down; sums ending in 3, 4, 8 and 9 cents are rounded up.

The 1 cent and 2 cent coins are legal tender and are minted for collector sets as required by the EMU agreement.

When paying in cash in Finland, while by law a shopkeeper should accept the coins, usually they will decline, and ask for higher denominations to match the Swedish rounding, even when presented with exact change.

Designers

The 1 euro coin is designed by the sculptor Pertti Mäkinen and the two-euro coin by the designer Raimo Heino.

References

References

1. (2006-12-27). "Designs of euro coins will be amended in 2007". Bank of Finland.
2. "Circulating Mintage quantities". Henning Agt.
3. "2 € Commemorative coins issued in Finland". Mint of Finland.
4. "Number of minted Finnish coins". Bank of Finland.
5. "Muntenruil met Finland". De Nederlandsche Bank.