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5 euro note

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Five euro
(Eurozone and Institutions)
Value5 euro
Width120 mm
Height62 mm
Security featuresHologram, a EURion constellation, watermarks, raised printing, a security thread, matted surface, barcodes and a serial number.[1]
Material usedCotton fibre[1]
Years of printing2002 - present[2]
Obverse
DesignArch in Classical architecture[3]
DesignerRobert Kalina[4]
Design date3 December 1996[4]
Reverse
DesignBridge in Classical architecture and map of Europe[3]
DesignerRobert Kalina[4]
Design date3 December 1996[4]

The five euro note (€5) is the 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 22 countries which have it as their sole currency (with 20 legally adopting it); with a population of about 332 million.[6]

It is the smallest note measuring 120x62mm and has a grey colour scheme.[3] The five euro banknotes depict bridges and arches/doorways in Classical architecture (up to the fifth century CE).

The five 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 1,507,467,000 five euro banknotes in circulation around the Eurozone 17.

History

Main article: History of the euro

Before the introduction

The euro was set up 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 banknotes and coins of the eurozone 12, as it was then, national currencies like the Irish Pound and the Austrian schilling.[2]

After the introduction

The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, 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][7]

Changes

There has so far only been one series of euro notes, however a second series of euro notes is predicted to be introduced over the next few years.[8] The initial issue of notes bears the signature of the president of the European Central Bank, Wim Duisenberg, who was replaced on 1 November 2003 by Jean-Claude Trichet, whose signature appears on subsequent issues.[3]

Design

5 euro banknote under fluorescent light (UV-A)
5 euro note under UV light (Obverse)
Obverse
5 euro note under UV light (Reverse)
Reverse
Close up of the reverse; a map of Europe and a classical era bridge

The five euro note is the smallest at 120 by 42 millimetres (4.7 in × 1.7 in) with a grey colour scheme.[3] All bank notes depict bridges, arches or doorways in a different historical European style; the five euro note shows the Classical era (up to the fifth century CE).[9] 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.[10]

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]

Security features

Holographic band on the five euro note

As the lowest value note, the security features of the five euro note are not as high as the other denominations. However, it is protected by a hologram, a EURion constellation, watermarks, raised printing, a security thread, matted surface, barcodes and a serial number.[11]

Circulation

As of September 2011, there are approximately 1,507,467,000 €5 banknotes in circulation around the Eurozone.[12] That is approximately €7,537,335,100 worth of €5 banknotes (as of September 2011).[12] 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.[12]

Environmental impact

As an environment-friendly institution, the European Central Bank tries very hard to make a shrewd use of natural resources, to keep the quality of the world and to save people's health in the produce and supplying of euro notes.[13]

Euro notes are safe to use: independent test results confirmed that euro notes fulfilled all European Union regulations including a large range of chemical substances in euro notes.[13] All substances in the notes have shown a concentration below any limit.[13]

Tracking

There are several communities of people at European level that, as a hobby, keep track of the euro banknotes that pass through their hands, and know where they travel or have travelled by using the EuroBillTracker.[14][14] The aim is to record as many notes as possible in order 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.[14] EuroBillTracker has registered over 96 million notes as of October 2011,[15] worth more than €1.876 billion.[15]

References

  1. ^ a b "ECB: Security Features". European Central Bank. ecb.int. 2002. Retrieved 22 October 2011.
  2. ^ a b c d e "ECB: Introduction". ECB. ECB.
  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. ^ "Bank of Italy – Exchange of lira notes and coins". Banc d'Italia. Banc d'Italia. 13 April 2011. Retrieved 14 October 2011.
  8. ^ "ECB: The 10th anniversary of euro banknotes and coins". ECB. ecb.int. 1 December 2011. Retrieved 2 December 2011.
  9. ^ "ECB: Banknotes". European Central Bank. ecb.int. 2002. Retrieved 5 December 2011.
  10. ^ "Money talks — the new Euro cash". BBC News. BBC News. December 1996. Retrieved 13 October 2011.
  11. ^ "ECB: Security features". European Central Bank.
  12. ^ a b c "ECB: Circulation". ECB. European Central Bank.
  13. ^ a b c "ECB: Environmental impact of euro banknotes". ECB. ecb.int. 20 December 2007. Retrieved 2 December 2011.
  14. ^ a b c "EuroBillTracker — About this site". Philippe Girolami, Anssi Johansson, Marko Schilde. EuroBillTracker. 1 January 2002. Retrieved 21 October 2011.
  15. ^ a b "EuroBillTracker — Statistics". Philippe Girolami, Anssi Johansson, Marko Schilde. EuroBillTracker. 1 January 2002. Retrieved 21 October 2011.
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