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<p>[QUOTE="chrisild, post: 834, member: 39"]<b>Re: The times they are a-changing...</b></p><p><br /></p><p><br /></p><p>Yes, VDN Eurocoin does that, for example. The coins are first made worthless, using a "Decoiner" in DE or a "Coin Crusher" in NL which sort of counterstamps the Cu-Ni pieces. This is necessary to prevent people from changing that scrap metal into euro cash. By the way, VDN Eurocoin and a couple of other vendors sell some decoined coins to collectors. Nice side business, nice souvenirs ...</p><p><br /></p><p><br /></p><p>In Euroland notes are what is called "unlimited legal tender" while coins are "limited legal tender". According to Council Regulation 974/98, <i>no party shall be obliged to accept more than 50 coins in any single payment</i> while there is no such limitation for notes.</p><p><br /></p><p><br /></p><p>Joining the European Union does not mean joining the currency union. As of May 2004 the EU will have 25 member states while Euroland will still have 12 members (plus the three small ones, MC/SM/VA). Sure, some national currencies - in Estonia and Lithuania, for example, and also in a few countries that will not join the EU at that time - are already "tied" to the euro. But introducing the euro cash unilaterally, or pegging one's currency to it, cannot be equated with becoming a currency union member.</p><p><br /></p><p><br /></p><p>Practically not, I agree. And I do not expect many people to turn their old German mark coins into euros in 30 years. But to know that the old DEM cash will never "legally" lose its value does have its advantages ...</p><p><br /></p><p>Christian[/QUOTE]</p><p><br /></p>
[QUOTE="chrisild, post: 834, member: 39"][b]Re: The times they are a-changing...[/b] Yes, VDN Eurocoin does that, for example. The coins are first made worthless, using a "Decoiner" in DE or a "Coin Crusher" in NL which sort of counterstamps the Cu-Ni pieces. This is necessary to prevent people from changing that scrap metal into euro cash. By the way, VDN Eurocoin and a couple of other vendors sell some decoined coins to collectors. Nice side business, nice souvenirs ... In Euroland notes are what is called "unlimited legal tender" while coins are "limited legal tender". According to Council Regulation 974/98, [i]no party shall be obliged to accept more than 50 coins in any single payment[/i] while there is no such limitation for notes. Joining the European Union does not mean joining the currency union. As of May 2004 the EU will have 25 member states while Euroland will still have 12 members (plus the three small ones, MC/SM/VA). Sure, some national currencies - in Estonia and Lithuania, for example, and also in a few countries that will not join the EU at that time - are already "tied" to the euro. But introducing the euro cash unilaterally, or pegging one's currency to it, cannot be equated with becoming a currency union member. Practically not, I agree. And I do not expect many people to turn their old German mark coins into euros in 30 years. But to know that the old DEM cash will never "legally" lose its value does have its advantages ... Christian[/QUOTE]
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