10 euro note

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Ten euro
(Eurozone and Institutions)
Value 10 Euro
Width 127 mm
Height 67 mm
Security features Hologram, a EURion constellation, a glossy stripe, watermarks, raised printing, ultraviolet ink, microprinting, a security thread, perforations, matted surface, barcodes, serial number.[1]
Paper type Cotton fibre[1]
Years of printing 2002 - present[2]
Obverse
EUR 10 obverse (2002 issue).jpg
Design Arch in Romanesque architecture[3]
Designer Robert Kalina[4]
Design date 13 January 2014[4]
Reverse
EUR 10 reverse (2002 issue).jpg
Design Bridge in Romanesque architecture and map of Europe[3]
Designer Robert Kalina[4]
Design date 13 January 2014[4]

The ten euro note (€10) is the second-lowest value euro banknote and has been used since the introduction of the euro (in its cash form) in 2002.[5] The note is used in the 23 countries which have it as their sole currency (with 22 legally adopting it); with a population of about 332 million.[6]

It is the second-smallest note measuring 127x67mm with a red colour scheme.[3] The ten euro banknotes depict bridges and arches/doorways in Romanesque architecture (between the 11th and 12th centuries CE).

The ten euro note contains several complex security features such as watermarks, invisible ink, holograms and microprinting that document its authenticity. In September 2011, there were approximately 2,005,149,600 ten euro banknotes in circulation around the eurozone.

History[edit]

Main article: History of the euro

The euro was founded on 1 January 1999, when it became the currency of over 300 million people in Europe.[2] For the first three years of its existence it was an invisible currency, only used in accountance. Euro cash was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the Italian lira and the German mark.[2]

Slovenia joined the Eurozone in 2007,[7] Cyprus and Malta in 2008,[8] Slovakia in 2009,[9] Estonia in 2011[10] and Latvia joined on 1 January 2014.[11]

The changeover period[edit]

The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, going from 1 January 2002 until 28 February 2002. The official date on which the national currencies ceased to be legal tender varied from member state to member state.[2] The earliest date was in Germany, where the mark officially ceased to be legal tender on 31 December 2001, though the exchange period lasted for two months more. Even after the old currencies ceased to be legal tender, they continued to be accepted by national central banks for periods ranging from ten years to forever.[2][12]

Changes[edit]

Design for the second series of ten euro notes

Former 5 euro note (Obverse)
Obverse
Former 5 euro note (Reverse)
Reverse

Notes printed before November 2003 bear the signature of the first president of the European Central Bank, Wim Duisenberg, who was replaced on 1 November 2003 by Jean-Claude Trichet, whose signature appears on issues from November 2003 to March 2012. Notes issued after March 2012 bear the signature of the third president of the European Central Bank, incumbent Mario Draghi.[3]

Until now there has been only one series of euro notes, however a new series, similar to the current one, will be released on 23 September 2014.[13] The European Central Bank will, in due time, announce when banknotes from the first series lose legal tender status.[13]

As of June 2012, current issues do not reflect the expansion of the European Union to 27 member states as Cyprus is not depicted on current notes as the map does not extend far enough east and Malta is also missing as it does not meet the current series' minimum size for depiction.[14] Since the European Central Bank plans to redesign the notes every seven or eight years after each issue, a second series of banknotes is already in preparation. New production and anti-counterfeiting techniques will be employed on the new notes, but the design will be of the same theme and colours identical of the current series; bridges and arches. However, they would still be recognisable as a new series.[15]

Design[edit]

10 euro banknote under fluorescent light (UV-A)

10 euro note under UV light (Obverse)
Obverse
10 euro note under UV light (Reverse)
Reverse
Printer code on the 10 euro note.
Close up of the printer code on the 10 euro note, showing micro printing, raised lettering and EURion design

The ten euro note is the second smallest at 127 millimetres (5.0 in) × 67 millimetres (2.6 in) with a red colour scheme.[3] All bank notes depict bridges and arches/doorways in a different historical European style; the ten euro note shows the Romanesque era (between the 11th and 12th centuries CE).[16] Although Robert Kalina's original designs were intended to show real monuments, for political reasons the bridge and art are merely hypothetical examples of the architectural era.[17]

Like all euro notes, it contains the denomination, the EU flag, the signature of the president of the ECB and the initials of said bank in different EU languages, a depiction of EU territories overseas, the stars from the EU flag and twelve security features as listed below.[3]

10 euro note picture by a camera with no IR filter and normal photo for comparison on the right.
Comparison of a note under infrared light (left), and a note under normal light (right).

Security features[edit]

As a lower value note, the security features of the ten euro note are not as high as the other denominations, however, it is protected by:

  • A hologram,[1] tilt the note and one should see the hologram image change between the value and a window or doorway, but in the background, one should see rainbow-coloured concentric circles of micro-letters moving from the centre to the edges of the patch.[18]
  • A EURion constellation,[1] special printing processes give the euro notes their unique feel.
  • A glossy stripe,[1] tilt the note and a glossy stripe showing the value numeral and the euro symbol will appear.
  • Watermarks,[1] it appears when the banknote is against the light.
  • Raised printing,[1] special methods of printing makes the ink feel raised or thicker in the main image, the lettering and the value numerals on the front of the banknotes. To feel the raised print, run your finger over it or scratch it gently with your fingernail.[19]
  • Ultraviolet ink,[1] Under ultraviolet light, the paper itself should not glow, fibres embedded in the paper should appear, and should be coloured red, blue and green, the European Union flag looks green and has orange stars, the ECB President signature turns green, the large stars and small circles on the front glow and the European map, a bridge and the value numeral on the back appear in yellow.[20]
  • Microprinting,[1] On numerous areas of the banknotes you can see microprinting, for example, inside the "EYPΩ" (EURO in Greek characters) on the front. You will need a magnifying glass to see it. The tiny text is sharp, and not blurred.[20]
  • A security thread,[1] The security thread is embedded in the banknote paper. Hold the banknote against the light - the thread will appear as a dark stripe. The word "EURO" and the value can be seen in tiny letters on the stripe.[21]
  • Perforations,[1] Hold the banknote against the light. You should see perforations in the hologram which will form the € symbol. You should also see small numbers showing the value.[21]
  • A matted surface,[1] the note paper is made out of pure cotton, which feels crisp and firm, but not limp or waxy.[19]
  • Barcodes,[1]
  • A serial number.[1]

Circulation[edit]

As of May 2013, there are approximately 2,033,231,800 €10 banknotes in circulation around the Eurozone.[22] That is approximately €20,332,318,500 worth of €10 banknotes (as of May 2013).[22] The European Central Bank is closely monitoring the circulation and stock of the euro coins and banknotes. It is a task of the Eurosystem to ensure an efficient and smooth supply of euro notes and to maintain their integrity throughout the euro area.[22]

Legal information[edit]

Legally, both the European Central Bank and the central banks of the eurozone countries have the right to issue the 7 different euro banknotes. In practice, only the national central banks of the zone physically issue and withdraw euro banknotes. The European Central Bank does not have a cash office and is not involved in any cash operations.[2]

Tracking[edit]

There are several communities of people at European level, most of which is EuroBillTracker,[23] that, as a hobby, it keeps track of the euro banknotes that pass through their hands, to keep track and know where they travel or have travelled.[23] The aim is to record as many notes as possible to know details about its spread, like from where and to where they travel in general, follow it up, like where a ticket has been seen in particular, and generate statistics and rankings, for example, in which countries there are more tickets.[23] EuroBillTracker has registered over 96 million notes as of October 2011,[24] worth more than €1.876 billion.[24]

References[edit]

  1. ^ a b c d e f g h i j k l m n "ECB: Security Features". European Central Bank. ecb.int. 2002. Retrieved 22 October 2011. 
  2. ^ a b c d e f "ECB: Introduction". ECB. ECB. Retrieved 21 October 2011. 
  3. ^ a b c d e f "ECB: Banknotes". European Central Bank. European Central Bank. 2002. Retrieved 13 October 2011. 
  4. ^ a b c d "ECB: Banknotes design". ECB. ECB. February 1996. Retrieved 13 October 2011. 
  5. ^ "Witnessing a milestone in European history". The Herald (Back Issue). 1 January 2002. Retrieved 23 October 2011. 
  6. ^
  7. ^ "Slovenia joins the euro area - European Commission". European Commission. 16 June 2011. Retrieved 6 August 2013. 
  8. ^ "Cyprus and Malta adopt the euro - BBC NEWS". BBC News. British Broadcasting Corporation. 1 January 2008. Retrieved 6 August 2013. 
  9. ^ Kubosova, Lucia (31 December 2008). "Slovakia Joins Decade-Old Euro Zone - Businessweek". Bloomberg Businessweek. Bloomberg. Retrieved 6 August 2013. 
  10. ^ "Estonia to join euro zone in 2011". RTÉ News. Radió Teilifís Éireann. 13 July 2010. Retrieved 6 August 2013. 
  11. ^ Kaza, Juris (9 July 2013). "Latvia Gets Green Light to Join Euro Zone -WSJ.com". Wall Street Journal. Wall Street Journal. Retrieved 31 July 2013. 
  12. ^ "Press kit - tenth anniversary of the euro banknotes and coins". ECB. Central Bank of Ireland. 2011. Retrieved 21 August 2012. 
  13. ^ a b "DISCOVER THE NEW €10 BANKNOTE". ECB. ECB. 13 January 2014. Retrieved 24 January 2014. 
  14. ^ European Central Bank. "The Euro: Banknotes: Design elements". Retrieved 2009-07-05. "The banknotes show a geographical representation of Europe. It excludes islands of less than 400 square kilometres because high-volume offset printing does not permit the accurate reproduction of small design elements." 
  15. ^ The life cycle of a banknote, De Nederlandsche Bank. Accessed 2007-08-17.
  16. ^ "ECB: Banknotes". European Central Bank. ecb.int. 2002. Retrieved 5 December 2011. 
  17. ^ "Money talks - the new Euro cash". BBC News (BBC News). December 1996. Retrieved 13 October 2011. 
  18. ^ "ECB:Tilt". ECB. ecb.int. 1 January 2002. Retrieved 22 October 2011. 
  19. ^ a b "ECB: Feel". ECB. ecb.int. 1 January 2011. Retrieved 22 October 2011. 
  20. ^ a b "ECB: Additional features". ECB. ecb.int. 1 January 2002. Retrieved 22 October 2011. 
  21. ^ a b "ECB: Look". ECB. ecb.int. 1 January 2002. Retrieved 22 October 2011. 
  22. ^ a b c "ECB: Circulation". European Central Bank. European Central Bank. August 2011. Retrieved 13 October 2011. 
  23. ^ a b c "EuroBillTracker - About this site". Philippe Girolami, Anssi Johansson, Marko Schilde. EuroBillTracker. 1 January 2002. Archived from the original on 2013-06-26. Retrieved 21 October 2011. 
  24. ^ a b "EuroBillTracker - Statistics". Philippe Girolami, Anssi Johansson, Marko Schilde. EuroBillTracker. 1 January 2002. Retrieved 21 October 2011.