The Two Euro coin (€2.00) is a circulating bi-metallic coin made of two alloys: the inner part of nickel brass, the outer part of copper-nickel. Like all the common circulation coins (from 1 cent to €2), the denomination is issued by the separate countries in the Eurozone and is legal tender in all of them, irrespective of which country has issued it. The denomination was introduced in 2002, when Austria retired the Austrian Schilling currency and introduced the Euro.
The coins have a common reverse designed by Luc Luycx in 1999 which shows a map of the European Union; it was changed in 2007 to reflect the enlargement of the Union. Each country has its own national obverse; the Austrian regular obverse features a portrait of Bertha von Suttner.
The €2 is also the only denomination in which circulating commemorative Euro coins are issued; these are also legal tender in all countries of the Eurozone, no matter which country issued them; commemoratives of other denominations are only legal tender in the issuing country. The number of commemorative coins is limited to two (before 2012 to one) per country per year (in addition to any common issue) and to 5 percent of the total mintage output. Given that the reverse is fixed, the commemorative designs are always on the obverse.
This coin marks the Bicentenary (200th anniversary of the founding) of Oesterreichische Nationalbank (National Bank of Austria), the country's central bank.
The Oesterreichische Nationalbank (OeNB) was founded in 1816 by Francis I (Franz I), the first Emperor of Austria. The bank was founded after a period of high currency devaluation in Austria during war times, when paper money was issued by the Austrian Habsburg Empire.
Austrian Two Euro coins issued in 2016 have now been in circulation for nine years. |