euro coins
There are eight euro coin denominations, ranging from one cent to two euros (the euro is divided into a hundred cents). The coins first came into use in 2002. They have a common reverse, portraying a map of Europe, but each country in the eurozone ...
currently being minted by the
Croatian Mint
The Croatian Mint (), formerly known as the Croatian Monetary Institute () is a state-owned enterprise, that produces circulating coinage for Croatia to conduct its trade and commerce, as well as
gold and silver medals, commemorative medallions ...
since July 2022. They are the official euro coins with the national motif of Croatia.
The
euro
The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . ...
has replaced the
Croatian kuna
The kuna is the currency of Croatia, in use since 1994 (sign: kn; code: HRK). It is subdivided into 100 lipa. The kuna is issued by the Croatian National Bank and the coins are minted by the Croatian Mint. The plural form of the word kuna in Cro ...
on 1 January 2023. However, payments will be still made with both the kuna and the euro until 14 January 2023 after which it will only be valid in euros. Since 5 September 2022, prices have been displayed in both euros and kunas. The euro coins were made available for purchase on 1 December 2022. Each package costs 100 kunas (approx. 13 euros).
History
On 21 July 2021,
Prime Minister of Croatia
, type = Head of Government
, member_of =
, reports_to = Croatian Parliament
, appointer = Croatian Parliament
, nominator = President of Croatia
, termlength = At the pleasure of the parliamentary majority. Parliamentary elections must be h ...
Andrej Plenković
Andrej Plenković ( ; born 8 April 1970) is a Croatian politician who has been serving as the prime minister of Croatia since 19 October 2016. He was previously one of eleven Croatian members of the European Parliament, serving from Croatia's ...
stated that national identifying marks on the Croatian euro coins would be the
Croatian checkerboard
The Croatian checkerboard or chequy ( hr, šahovnica, ) is the national symbol of Croatia and Croats, it covers the main shield of Croatian coat of arms above which is the crown with five smaller shields. Squares are always arranged correctly and ...
, the map of Croatia, a
marten
A marten is a weasel-like mammal in the genus ''Martes'' within the subfamily Guloninae, in the family Mustelidae. They have bushy tails and large paws with partially retractile claws. The fur varies from yellowish to dark brown, depending on t ...
Glagolitic script
The Glagolitic script (, , ''glagolitsa'') is the oldest known Slavic alphabet. It is generally agreed to have been created in the 9th century by Saint Cyril, a monk from Thessalonica. He and his brother Saint Methodius were sent by the Byzan ...
.
On 4 February 2022, the
Government of Croatia
The Government of Croatia ( hr, Vlada Hrvatske), formally the Government of the Republic of Croatia ( hr, Vlada Republike Hrvatske), commonly abbreviated to Croatian Government ( hr, hrvatska Vlada), is the main executive branch of government ...
presented the designs for the national side of the future Croatian euro coins, which were chosen in an open contest by the Council of the
Croatian National Bank
The Croatian National Bank ( hr, Hrvatska narodna banka or HNB; ) is the central bank of the Republic of Croatia.
HNB was established by the Constitution of Croatia which was passed by the Parliament of Croatia on 21 December 1990. Its main res ...
. For the 2€ coin, a design with the geographical map of Croatia by designer Ivan Šivak was chosen. The edge inscription uses lyrics from
Ivan Gundulić
Dživo Franov Gundulić ( it, Gianfrancesco Gondola; 8 January 1589 – 8 December 1638), better known today as Ivan Gundulić, was the most prominent Baroque poet from the Republic of Ragusa (now in Croatia). He is regarded as the Croatian nat ...
's 1628
pastoral
A pastoral lifestyle is that of shepherds herding livestock around open areas of land according to seasons and the changing availability of water and pasture. It lends its name to a genre of literature, art, and music (pastorale) that depicts ...
play '' Dubravka''. For the 1€ coin, a design with a marten ( in Croatian) standing on a branch, an animal after which the Croatian currency at the time was named, by designer Stjepan Pranjković was chosen. For the 10c, 20c and 50c coins, a design with
Smiljan
Smiljan () is a village in the mountainous region of Western Lika in Croatia. It is located northwest of Gospić, and fifteen kilometers from the Zagreb-Split highway; its population is 418 (2011). Smiljan is the birthplace of inventor and engin ...
(present-day Croatia, then-
Austrian Empire
The Austrian Empire (german: link=no, Kaiserthum Oesterreich, modern spelling , ) was a Central-Eastern European multinational great power from 1804 to 1867, created by proclamation out of the realms of the Habsburgs. During its existence, ...
), by designer Ivan Domagoj Račić was chosen. Finally, for 1c, 2c and 5c coins, a design with
ligature
Ligature may refer to:
* Ligature (medicine), a piece of suture used to shut off a blood vessel or other anatomical structure
** Ligature (orthodontic), used in dentistry
* Ligature (music), an element of musical notation used especially in the me ...
bound letters Ⱈ (H) and Ⱃ (R) in Glagolitic script by designer Maja Škripelj was chosen. Each author received 70,000 kn (approx. 9,300€) for their chosen design.
After suspicions arose online that the design of the 1€ coin used an unlicensed image of a marten on a branch by the Scottish photographer Iain Leach, the designer of the 1€ coin, Stjepan Pranjković, withdrew his design on 7 February. On 8 February, the Croatian National Bank announced they will hold a new competition for the design of the Croatian 1€ coin with a marten motif.
On 4 May 2022, at the 15th session of the National Council for the Introduction of the Euro, the new 1€ coin design was presented to the public. The chosen design depicts a stylised marten on a checkerboard background by artists Jagor Šunde, David Čemeljić and Fran Zekan. This new design was approved by the
Council of the European Union
The Council of the European Union, often referred to in the treaties and other official documents simply as the Council, and informally known as the Council of Ministers, is the third of the seven Institutions of the European Union (EU) as ...
on 20 April.
On 18 July 2022, the
Croatian Mint
The Croatian Mint (), formerly known as the Croatian Monetary Institute () is a state-owned enterprise, that produces circulating coinage for Croatia to conduct its trade and commerce, as well as
gold and silver medals, commemorative medallions ...
officially began the production of the euro coins with the Croatian national motif. Workers were set to have three shifts until the end of 2022.
On 1 September 2022, euro banknotes began being distributed to all banks in Croatia.
On 1 October 2022, the newly minted euro coins had begun distribution to all banks in Croatia.
On 20 October 2022, the Executive Board of the
European Central Bank
The European Central Bank (ECB) is the prime component of the monetary Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#Intern ...
(ECB) adopted a Decision on the application of minimum reserves by the ECB following the introduction of the euro in Croatia on 1 January 2023.
Currently, as of October 2022, there are approximately 420 million euro coins minted with the Croatian national motif.
Design
Impact
The Croatian Ministry of Finance estimated the cost of the changeover from the kuna to the euro to be around 2 billion kuna. Government analysis indicates that most of the cost would be on the loss of the conversion business by the banking system, which is expected to lead to a rise in other banking fees. There is a possibility of a general price increase for consumers, with a simultaneous general currency conversion risk for most debtors.
Future
Starting in January 2023, the Croatian National Bank will publish quarterly national reference rate for the euro, on the basis of which variable interest rates are calculated. Banks, the Financial Agency of Croatia and the
Croatian Post
Croatian may refer to:
*Croatia
, image_flag = Flag of Croatia.svg
, image_coat = Coat of arms of Croatia.svg
, anthem = "Lijepa naša domovino"("Our Beautiful Homeland")
, image_map =
, ...
will exchange 100 kuna notes and 100 kuna coins per transaction for all citizens for free at the counters, at a fixed exchange rate.
Kuna coins will however continue to be exchanged by the Croatian National Bank until 31 December 2025 following the change, while the banknotes without time limit will be exchanged until 1 January 2024. Prices will continue to be displayed in both euros and kunas until 31 December 2023.
From 15 December 2022 to 15 January 2023, there will not be charging fees for cash withdrawals from ATMs to clients of other banks.
A transitional period for the imposing of minimum requirements on institutions located in Croatia will take place from 1 January to 7 February 2023. Institutions located in other
eurozone
The euro area, commonly called eurozone (EZ), is a currency union of 19 member states of the European Union (EU) that have adopted the euro (€) as their primary currency and sole legal tender, and have thus fully implemented EMU policies ...
countries may decide to deduct any liabilities owed to institutions located in Croatia from their reserve base for the maintenance periods from 21 December 2022 to 7 February 2023 and from 8 February to 21 March 2023.
Those who have both kunas and euros in credit institutions, unions, payment institutions, and electronic money institutions before the day of the introduction of euro have the right, until the end of February 2023, to close one or more of their accounts and transfer the funds recorded in those accounts to their accounts to accounts of their choice in the same institution, free of charge.
By 1 April 2023, the Croatian National Bank will stop determining denomination structure for paying out euro banknotes at ATMs. Furthermore, until the end of June 2023, all banks must return their amount in euros to those who have payment slips stated in kunas.
Promotion of the euro in Croatia
Throughout the month of October, four Euro Days were held with the first one being in
Osijek
Osijek () is the fourth-largest city in Croatia, with a population of 96,848 in 2021. It is the largest city and the economic and cultural centre of the eastern Croatian region of Slavonia, as well as the administrative centre of Osijek-Baranja ...
on 8 October 2022. The other three Euro Days were held in
Rijeka
Rijeka ( , , ; also known as Fiume hu, Fiume, it, Fiume ; local Chakavian: ''Reka''; german: Sankt Veit am Flaum; sl, Reka) is the principal seaport and the third-largest city in Croatia (after Zagreb and Split). It is located in Primor ...
,
Split
Split(s) or The Split may refer to:
Places
* Split, Croatia, the largest coastal city in Croatia
* Split Island, Canada, an island in the Hudson Bay
* Split Island, Falkland Islands
* Split Island, Fiji, better known as Hạfliua
Arts, enterta ...
, and
Zagreb
Zagreb ( , , , ) is the capital (political), capital and List of cities and towns in Croatia#List of cities and towns, largest city of Croatia. It is in the Northern Croatia, northwest of the country, along the Sava river, at the southern slop ...
, all with the aim to promote the upcoming entry of Croatia into the eurozone and educate the local populations about the Euro.
The
Croatian Chamber of Economy
Croatian Chamber of Economy ( hr, Hrvatska gospodarska komora, abbreviation HGK), is a professional association of businesspeople in Croatia, and the oldest institution of its kind on the Croatian territory.
History
It originates from the Chamber ...
(HGK) and the Croatian National Bank have scheduled an online hybrid education on 12 October 2022 with the intention of providing basic information about the Euro and the new coin designs.
Another promotion campaign of the euro in Croatia called "Euro on Wheels" is to take place in 27 cities in Croatia from 19 October until 17 December 2022, with the first one being in
Vukovar
Vukovar () ( sr-Cyrl, Вуковар, hu, Vukovár, german: Wukowar) is a city in Croatia, in the eastern region of Slavonia. It contains Croatia's largest river port, located at the confluence of the Vuka and the Danube. Vukovar is the seat of ...
. The cost of the campaign is estimated at 24 million kunas (c. 3.18 million euros).
Controversy
On 21 July 2021, Nikola Tesla was selected to be featured in the euro with nearly 2,600 votes. This resulted in opposition from the
National Bank of Serbia
The National Bank of Serbia ( sr, Народна банка Србије, Narodna banka Srbije) is the central bank of Serbia. Founded in 1884, the responsibilities of the bank are: monetary policy, sole issuer of Serbian banknotes and coins, p ...
due to his
Serb
The Serbs ( sr-Cyr, Срби, Srbi, ) are the most numerous South Slavic ethnic group native to the Balkans in Southeastern Europe, who share a common Serbian ancestry, culture, history and language.
The majority of Serbs live in their na ...
ethnicity, although he was born in present-day Croatia. Prime Minister Plenković commented: "If I were the head of the National Bank of Serbia, I would say well done."
President of Croatia
The president of Croatia, officially the President of the Republic of Croatia ( hr, Predsjednik Republike Hrvatske), is the head of state, commander-in-chief of the military and chief representative of the Republic of Croatia both within the ...
Zoran Milanović
Zoran Milanović (; born 30 October 1966) is a Croatian politician serving as President of Croatia since 19 February 2020. Prior to assuming the presidency, he was prime minister from 2011 to 2016 and president of the Social Democratic Party f ...
Boris Milošević
Boris Milošević ( sr-Cyrl, Борис Милошевић, ; born 5 November 1974) is a Croatian lawyer and politician who served as Deputy Prime Minister of Croatia between 2020 and 2022. He is a member of the Independent Democratic Serb Party ...
Croats
The Croats (; hr, Hrvati ) are a South Slavic ethnic group who share a common Croatian ancestry, culture, history and language. They are also a recognized minority in a number of neighboring countries, namely Austria, the Czech Republic, G ...
) to the whole world. The citizens of Croatia voted for a Serb from Croatia, who was proud of his people and his homeland, who always remained faithful to his culture—a typical ''
Krajina Krajina () is a Slavic toponym, meaning 'frontier' or 'march'. The term is related to ''kraj'' or ''krai'', originally meaning 'edge'Rick Derksen (2008), ''Etymological Dictionary of the Slavic Inherited Lexicon'', Brill: Leiden-Boston, page 244 an ...
'', '' Prečani'' one—and now he is going to be on a Croatian euro coin as one of the recognizable symbols of the Republic of Croatia."
On 4 February 2022, the Croatian government presented the new designs for the euro with national motifs of Croatia, including Nikola Tesla on the 10, 20, and 50 cent coins. This led to another wave of opposition from the Serbian media.