Estonia in EMU on first January 2011

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Jes
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Re: Estonia in EMU on first January 2011

Postby Jes » Thu Jul 15, 2010 6:49 am

tabbs wrote:
Dakkus wrote:According to a news article just published, they have not been minting the Estonian coins yet.
The article mentions that minting the coins will begin on Tuesday next week (that is: 2010-07-20) and will indeed take place in Vantaa, Finland.

Ah, thanks. Makes sense to wait - after all, even though pretty much every light on the way was green this year, making them without the final go-ahead would have been strange. Also, it does not take that long to produce them.

I also didn't know that they have minted coins for Ireland in Vantaa, as well.

Yep, they did and do. The mint in Vantaa has produced euro coins for Cyprus, Finland (surprise), Greece, Ireland, Luxembourg, and Slovenia. And I am pretty sure they get orders from outside the euro area as well. If we look at it the other way round, the Irish euro coins have been made in Austria, Croatia, Finland, France, Germany, Ireland, and the UK. :)

Christian

GREAT!

Interesting news, thanks for sharing. Ok, so it is somehow expectable that they would start minting coins now. But this let us know that the coins may have the mint mark of Suommi. Am I right?

Yet another issue: for those people interested, here is an article recently published on a Spanish newspaper: http://www.elpais.com/articulo/economia ... ieco_4/Tes
(in spanish of course :roll: )
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Re: Estonia in EMU on first January 2011

Postby tabbs » Thu Jul 15, 2010 11:57 am

Jes wrote:But this let us know that the coins may have the mint mark of Suommi. Am I right?

Could be, but I doubt it. Whether a mint can put its mark on a coin, or not, is usually part of the contract. For example, the Finnish mint also made most of the circulation coins for Cyprus, but you won't find its mark or logo on these pieces. As for Estonia, we will see - and I hope I can actually see them soon. :)

Yet another issue: for those people interested, here is an article recently published on a Spanish newspaper

Yes, the final decision was made on Tuesday, but since the Council simply OK'd what had been expected anyway, that was not really "big news". That even applies to the conversion rate; from the El País article: "El tipo de conversión será de 15,6466 coronas, que corresponde al cambio central actual en el mecanismo de cambios." Well, since Estonia had unilaterally fixed that rate years ago, anything except 15.6466 would have been a major surprise ...

By the way, those Estonian €1 coins are way too big in my opinion. :mrgreen:
http://tvnewsroom.consilium.europa.eu/s ... a_id/34011
To see the "Euro festivities 2010" video (rather an offical reception), click on "Play". Then watch those coins, roughly from 1:30 to 2:00.

Christian

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Re: Estonia in EMU on first January 2011

Postby melitikus » Fri Jul 16, 2010 8:39 pm

first images of the actual Estonian euro coins (test coins) - mass minting will start next Tuesday

Image

Image

Image

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Re: Estonia in EMU on first January 2011

Postby starcapitan » Sun Jul 18, 2010 2:28 pm

hoping that someone hasn't said before ..
the official changeover site :
http://euro.eesti.ee
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Re: Estonia in EMU on first January 2011

Postby sambrasa » Sun Jul 18, 2010 6:55 pm

What is the national identification code for Estonia on future Estonian euro banknotes?

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Re: Estonia in EMU on first January 2011

Postby Craft » Tue Jul 20, 2010 10:55 am

melitikus wrote:first images of the actual Estonian euro coins (test coins) - mass minting will start next Tuesday

The minting has indeed started today, according to a Finnish newspaper (article available in Finnish only):
http://www.iltasanomat.fi/uutiset/kotim ... id=2226545

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Re: Estonia in EMU on first January 2011

Postby tabbs » Tue Jul 20, 2010 4:11 pm

Fortunately the mint's website is by and large trilingual. ;)

http://www.suomenrahapaja.fi/eng/the-mi ... of-finland

Note the comment "Estonia is now the eighth country for which we produce euro coins" roughly in the middle of the article.

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Re: Estonia in EMU on first January 2011

Postby tabbs » Wed Jul 21, 2010 10:03 am

sambrasa wrote:What is the national identification code for Estonia on future Estonian euro banknotes?

You mean the central bank code on the reverse? Well, currently Estonia does not need any - as in previous cases, the initial supply will be "borrowed" from other Eurosystem banks. As for what the code could be in the future, let's see - Slovenia got the H, Cyprus G, Malta F, Slovakia E ... so Estonia could be "D". Just my personal guess though. :)

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Re: Estonia in EMU on first January 2011

Postby Jes » Wed Jul 21, 2010 10:49 am

tabbs wrote:
sambrasa wrote:What is the national identification code for Estonia on future Estonian euro banknotes?

You mean the central bank code on the reverse? Well, currently Estonia does not need any - as in previous cases, the initial supply will be "borrowed" from other Eurosystem banks. As for what the code could be in the future, let's see - Slovenia got the H, Cyprus G, Malta F, Slovakia E ... so Estonia could be "D". Just my personal guess though. :)

Christian

I agree with you. :)
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Re: Estonia in EMU on first January 2011

Postby starcapitan » Wed Jul 21, 2010 3:54 pm

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Re: Estonia in EMU on first January 2011

Postby tabbs » Wed Jul 21, 2010 10:48 pm

And that is also where you find a press release about their coins. :)
http://www.eestipank.info/pub/en/press/ ... _07/pt0716

Seems that, while the map is basically the same for all denominations, there are subtle differences. Notes are not mentioned though.

Christian

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Re: Estonia in EMU on first January 2011

Postby ART » Thu Aug 05, 2010 11:18 pm

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Re: Estonia in EMU on first January 2011

Postby Dakkus » Fri Aug 06, 2010 1:33 pm

ART wrote:http://ec.europa.eu/news/economy/100715_en.htm


If you want to invoke any conversation, write a condensed reference (a few sentcences) about the article. Now people might read the article, but will probably not comment it here.
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Re: Estonia in EMU on first January 2011

Postby tabbs » Fri Aug 06, 2010 2:35 pm

Maybe such a euro changeover has become more or less routine, at least for us EBTers, so there is hardly anything to discuss. ;) Some more info about the changeover, mostly from the EuroVeeb website:

* Estonia will introduce the euro in a "big bang" changeover: Until 31 Dec the currency is the kroon; as from 1 Jan it will be the euro. For two weeks, until mid-January, it will also be possible to pay with EEK cash though.

* Most offices of commercial banks will exchange krooni into euro (at the official rate, without exchange fees) for a period of seven months, starting one month before €-Day. That is, between 1 December 2010 and the end of June 2011. After that, a limited number of bank offices will continue that service until the end of 2011.

* In the two-week dual circulation period (first half of January) ATMs in Estonia are supposed to give out €5, €10 and €50 notes. As from mid-January it will be up to each bank again what denominations the machines dispense.

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Re: Estonia in EMU on first January 2011

Postby starcapitan » Sat Sep 11, 2010 9:39 pm

still nothing about the edge inscription of the estonian 2 E ??
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