Mission Statement: to assist the integration of foreign residents living in Spain
By John Smith • Updated: 15 Oct 2024 • 18:04 • 1 minute read
Launch of the Georgian limited edition bank note Credit: Tresurium Facebook
“Please note that the European Central Bank (ECB) only recognises as legal tender euro banknotes issued by the Eurosystem. It does not regulate or approve the production of the ‘souvenir’ note to which you refer. If a commercial company produces them, they must comply with the ECB reproduction rules (see in particular Article 2 of Decision ECB/2013/10)). These help to ensure that a reproduction cannot be confused with a genuine banknote, and thus play a part in maintaining trust in the single currency.”
A company known as Tresurium which gives its address as a hotel in Tbilisi, capital of Georgia is behind this collectable bank note which comes in a limited edition of 5,000 with some of the lower numbers being sent to auction with the proceeds being given to an unnamed charity or charities.
The bank note was unveiled at a Currency Fair being held in the Dutch city of Maastricht, birthplace of the Euro when 11 members of the European Union agreed to adopt this new currency.
The fact is that since then, there have been seven denominations of Euro bank notes with small changes of design but there has never been an official commemorative Euro banknote.
There is no doubt that the new items issued by Georgia is attractive but according to the National Bank of Georgia, the only legal tender bank notes of that country are those denominated in the official currency, the Lari.
There are a number of questions that need to be considered by any potential purchaser of this, so called bank note, the first and most important being does it have any value or is it just a pretty piece of paper with an imaginary value printed on it?
If it has no redeemable value then is this simply produced with the intention of generating income as in theory, the total face value of the production run is €40 million and the sales price is not as yet known.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
This seems like a good idea. Perhaps Mercadona would look at you sideways when presenting this for your weekly shop. Banks here are encouraging one to use cash due to their greedy charges. I have just been charged 44e for a credit card and any bank transfer to a different bank attracts a charge as well as monthly fees. Of course these charges can be reduced by maintaining 6000e in your account plus other conditions. Revert to cash when possible.
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