New euro notes to come in 2013/14

[tabbs]

Not really. Acording to this article http://derstandard.at/?url=/?id=3002409 (in German, from Aug-2007) the next series will probably not be issued in 2010 but takes some more time. Also, the introduction will be "step by step" - that is, one denomination will be "renewed" first, then the next one, and so on.

Interestingly, one of the comments refers to eurobilltracker.com ...

Christian

[Jes]

[...]
Interestingly, one of the comments refers to eurobilltracker.com ...

Christian

WOW that's good!!! that's very good indeed!!!!

[androl]

the Nederlandsche Bank has made a document with some suggestions what should be put to a new series of banknotes to make it more apreciated by the people

http://www.dnb.nl/dnb/home/file/OSVol5N ... 169396.pdf

they say that many people would like to see real buildings on the notes

an interesting part in that document is also the awareness of Dutch people of the euro denominations. Only 56% said that there is a while 11% said there is a

[melitikus]

i hope that they improve the paper quality
maybe something like the Australian Banknotes

they should add malta and cyprus on the map (if it is going to remain)
euro in Cyrillic

dunno if 200 and 500 are useful - i never seen any of these

else the colours and the design of the current notes are very nice

[tabbs]

i hope that they improve the paper quality
maybe something like the Australian Banknotes

they should add malta and cyprus on the map (if it is going to remain)
euro in Cyrillic

dunno if 200 and 500 are useful - i never seen any of these

else the colours and the design of the current notes are very nice

Problem with polymer banknotes, as the Australian ones, is that they apparently do not work well with ATMs. Another issue is that either the notes would have to be printed by the RBA or the technology would have to be licensed. So that is quite unlikely. Security features such as "windows" however may well make it to future euro notes.

The basic design of the euro notes will (at least these are the current plans) not be changed. And I'm glad about that; don't really like the suggestions expressed in that DNB publication. The map will be updated, and the Bulgarian-Cyrillic version of "euro" will be added. And I guess that, if the abbreviation ECB is there to stay, new versions of that will come as well.

As for why we have the €200 and €500 notes, don't ask me. I assume they were made because some countries had such high value notes before the changeover (NL: 250 and 1000 gulden, DE: 500 and 1000 mark), not taking into account that, especially for high amounts, cash is not used that much any more.

Well, maybe the 200 will become useful one day, depending on future inflation rates. And the 500 note is primarily used in Spain; it accounts for more than two thirds of the money circulating in that country. One of four €500 notes made by the Eurosystem goes to, and is used in, Spain - so there must be a use for them there. Not necessarily for legal purposes though ...

Christian

[Jes]

dunno if 200 and 500 are useful - i never seen any of these

An usual joke in Spain early in 2002 when Euro notes (and coins) were introducted:

-Do you know why the 500 note is called "Ben Laden"?
r.-No, I've no idea. Why?
-Because all people knows that it does exist, but no one's actually seen it!!

[Ewri]

good one Jes.

I think that the €500 is much more used than the €200 note. It is primarily used by people who go abroad on business and need to carry a lot of cash with them and people who store bulk amount of notes at home (many Maltese people tend to do that). Obviously, they are also used by money launderers.

[Jes]

good one Jes.

I think that the €500 is much more used than the €200 note. It is primarily used by people who go abroad on business and need to carry a lot of cash with them and people who store bulk amount of notes at home (many Maltese people tend to do that). Obviously, they are also used by money launderers.

My uncle works in a bank, and he says that he does not like to use the 200 note... JUST BECAUSE IT HAS THE SAME COLOUR AS VOMIT!!

[tabbs]

Update - The first new notes will come in 2011. It will take a few years until all denominations are replaced. The existing notes will be taken out of circulation but can be exchanged "forever". Quote:

The first denomination in the second series is planned to be put into circulation on 1 January 2011, and will be followed by the other denominations over a period of several years. The designs will be evolutionary, for they will incorporate the present "ages and styles of Europe" theme as well as state-of-the-art and user-friendly security features. The designs and features of the second series, in terms of functionality, are based on market research involving the public and people who handle cash professionally, and also on consultations with the main stakeholders in the cash cycle. The ECB will announce well in advance when the current series ceases to be legal tender, i.e. when it can no longer be used to make payments. However, the NCBs will redeem euro banknotes of the "old" series for an unlimited period of time.

http://www.ecb.europa.eu/pub/pdf/other/ ... 0806en.pdf
(see "9.5 SECOND SERIES OF EURO BANKNOTES", p. 144/145)

Christian

[Jes]

http://www.ecb.europa.eu/pub/pdf/other/ ... 0806en.pdf
(see "9.5 SECOND SERIES OF EURO BANKNOTES", p. 144/145)

Christian

Fantastic! nice info

[Quizmaster]

Update - The first new notes will come in 2011. It will take a few years until all denominations are replaced. The existing notes will be taken out of circulation but can be exchanged "forever". Quote:

The ECB will announce well in advance when the current series ceases to be legal tender, i.e. when it can no longer be used to make payments. However, the NCBs will redeem euro banknotes of the "old" series for an unlimited period of time.

I do not understand this part at all. If the ECB wants the € to be the legal tender of choice throughout the world (like the dollar is now, even though its popularity is dwindling) it's best to keep the old bills valid as legal tender anywhere, everywhere for a virually unilimited amount of time. This is also the case with the dollar bill. Bills from before the 1960's are all taken out of circulation by the Federal Reserve, but outside of that they're still legal tender! I believe this has been a factor in the dollar becoming the currency of choice throughout the world, and the ECB should also adhere to such a policy: take them out of circulation at the (central) bank(s) if you will, but do keep their legal tender status!

[Dakkus]

The notes are not updated just for fun. They are updated because new security features are needed. They are needed because the old ones are too easy to counterfeit.
It's not very good if you can just counterfeit the old notes and then release them into circulation.
Of course this can't be done very efficiently, but that's a very safe way of producing a few thousand euros of extra money. Just fake some old 50€ or 100€ notes and then use them as a part of payment when buying something you'd buy anyway.

[tabbs]

I agree with Dakkus - if the new notes were issued solely because some additional language versions of "ECB" are added, or because Cyprus and Malta will be shown on them, then the old and the new ones could both be in circulation, pretty much like the coins. However, adding new security features does not make much sense if you then have both old and new notes. I know that in the US this is done differently - well, what they do is up to them.

It makes a lot of sense, however, to not limit the exchange period. This way people can get new notes for their old ones at any time in the future, and there is no reason to fear the old notes could one day become worthless. But the ECB and its NCBs can also make sure that, after a reasonable "dual circulation" period, notes without the new security features are taken out of circulation ...

Christian

[Dawizz]

i hope that they improve the paper quality
maybe something like the Australian Banknotes

No way dude they look like monopoly money.

[Dakkus]

i hope that they improve the paper quality
maybe something like the Australian Banknotes

No way dude they look like monopoly money.

Dude, the paper quality has nothing to do with what has been printed on the notes!