Estonian coins found in circulation OUTSIDE Estonia

[melitikus]

Background
Estonia will join the eurozone on 1st Jan 2011, starter kits will start to be available as of 1st Dec 2010. Eesti Pank has decided to commission 600,000 euro coin starter kits. A kit consisting of 42 coins amounting to 12.79 euro will be sold for 200 kroons per kit. Each kit will contain the following denominations and quantities of Estonian euro coins.

1 cent ………… 7 coins
2 cents ………… 6 coins
5 cents ………… 6 coins
10 cents ……….6 coins
20 cents ……….6 coins
50 cents ……….5 coins
€1 ……………..4 coins
€2 …………….2 coins

more about the Estonian Euro Changeover here
http://eurocollection.ning.com/forum/to ... 1#comments" onclick="window.open(this.href);return false;


Source
http://eurocollection.ning.com/" onclick="window.open(this.href);return false;

[Jes]

GREAT!!

Let's see who's the first to find one OUTSIDE Estonia

[malu]

GREAT!!

Let's see who's the first to find one OUTSIDE Estonia

Would these starter kit coins be legal tender before 01.01.2011 (in the current euro zone, that is)?

[melitikus]

GREAT!!

Let's see who's the first to find one OUTSIDE Estonia

Would these starter kit coins be legal tender before 01.01.2011 (in the current euro zone, that is)?

no
theoretically they have no legal value before that date and one can be arrested if caught using them before 1st Jan

[Jes]

fancy enough...

[tabbs]

Right, the Estonian euro and cent coins will not be legal tender anywhere until 1 January. But what does that actually mean? Legal tender is, by and large, means of payment that a creditor has to accept from a debtor (unless an existing contract between the two specifies otherwise). So if I owed you €10, and wanted to pay that back with, say, two €5 notes, you would have to accept them. I cannot insist on using US dollars, Swiss francs, a golden watch or some ripe bananas to pay what I owe you.

However, you may well say, hmm, this customer wants to buy from me but does not have enough legal tender money ... instead of not selling, I will gladly accept his dollars (or whatever). You two agree on a fair price or rate, and that's basically it.

The Estonian euro and cent coins can be legally obtained as from 1 December via starter kits. And nobody will be arrested for attempting to use them before the end of the year. But a store (or whoever) may well refuse to accept them as they are not legal tender until New Year's Day.

Christian

[Jes]

Right, the Estonian euro and cent coins will not be legal tender anywhere until 1 January. But what does that actually mean? Legal tender is, by and large, means of payment that a creditor has to accept from a debtor (unless an existing contract between the two specifies otherwise). So if I owed you €10, and wanted to pay that back with, say, two €5 notes, you would have to accept them. I cannot insist on using US dollars, Swiss francs, a golden watch or some ripe bananas to pay what I owe you.

However, you may well say, hmm, this customer wants to buy from me but does not have enough legal tender money ... instead of not selling, I will gladly accept his dollars (or whatever). You two agree on a fair price or rate, and that's basically it.

The Estonian euro and cent coins can be legally obtained as from 1 December via starter kits. And nobody will be arrested for attempting to use them before the end of the year. But a store (or whoever) may well refuse to accept them as they are not legal tender until New Year's Day.

Christian

Simply sensible explanation.

[malu]

Right, the Estonian euro and cent coins will not be legal tender anywhere until 1 January. But what does that actually mean? Legal tender is, by and large, means of payment that a creditor has to accept from a debtor (unless an existing contract between the two specifies otherwise). So if I owed you €10, and wanted to pay that back with, say, two €5 notes, you would have to accept them. I cannot insist on using US dollars, Swiss francs, a golden watch or some ripe bananas to pay what I owe you.

However, you may well say, hmm, this customer wants to buy from me but does not have enough legal tender money ... instead of not selling, I will gladly accept his dollars (or whatever). You two agree on a fair price or rate, and that's basically it.

The Estonian euro and cent coins can be legally obtained as from 1 December via starter kits. And nobody will be arrested for attempting to use them before the end of the year. But a store (or whoever) may well refuse to accept them as they are not legal tender until New Year's Day.

Christian

The thing I was actually thinking about, these coins are physically "identical" to the current "legal" ones, so for example vending machines will happily accept them (in December)

[dserrano5]

Thanks for the clear explanation .

[melitikus]

Source
http://eurocollection.ning.com" onclick="window.open(this.href);return false;

[R/J]

Google Translate of the last line on the bags:

Valid means of payment from 01.01.2011

[tabbs]

Actually these starter kits were presented by Eesti Pank yesterday but will not be generally available until 1 December. What is also interesting is that there is a token in each bag; the bank calls them "security chips". Seems they were added to guarantee the authenticity of each starter kit.



As far as I know, this is the first time in "euro history" that starter kits contain such tokens. Not sure who would possibly counterfeit such bags though.

Christian

[Jes]

WOW! Very interesting!

[starcapitan]

OH Estonia I love You
tabbs u are always interesting

[Bollivierke]

At Numismata Frankfurt today, there was a seller who had 1 serie of these coins. He didn't sell them though, only for showing.