The E-Sylum:  Volume 7, Number 14, April 4, 2004, Article 7

FIRST CIRCULATING EURO COMMEMORATIVE

  Ralf W. Böpple of Stuttgart, Germany writes: "The first
  circulating Euro commemorative coin is about to be released.
  For the first two years after the introduction of the euro in
  2002, no redesigning of the coins has been allowed to help
  the citizens to get acquainted with the new money. This
  applied only to the circulating coins, whereas at the same
  time, collector coins, that is, euro-denominated coins
  issued by the member countries as part of their
  commemorative programs, differ from the euros in
  circulation in denomination, size, shape, materials, etc.

  However, from 2004 on the countries will be allowed one
  redesign per year of the national side of one of their coins
  to commemorate special events. These coins will thus have
  the same technical details as the 'regular' issues.  At the
  same time, the reverse of all euro coins will remain
  unchanged until at least 2008.

   The first and most likely the only country to issue a
  commemorative 2-euro-coin in 2004 is Greece. To
  celebrate this year's Olympic Games in Athens, the national
  obverse (Europa and Zeus disguised as a bull) will be
  replaced by a discobolus (this, according to my dictionary,
  being the English word for a sportsman throwing a discus)
  and the five Olympic rings.  The coin will not be part of a
  commemorative program, but rather circulate alongside the
  regular euro coins.

  Year of issue will, of course, be 2004. Market rumour has it
  that the coins will be available early April, according to the
  distribution plans of the Central Bank of Greece and the
  vendors who are already offering the coin on Ebay. Declared
  purpose of the issue is to raise the popularity of the Olympic
  Games with the people in Greece and the rest of Europe. In
  this sense, these coins fulfill a tradition that actually goes back
  to ancient times. On the other side, these coins will be used
  as collectibles, and given the ongoing eurocoins collecting
  craze, they are likely to be stashed away by the millions by
  coin collectors and other memorabilia hunters, thus creating
  a nice seignorage profit to help pay for the Olympics. I don't
  know if this idea stood behind Olympic issues in ancient
  Greece as well?

  The Olympic 2 euros of Greece will start a series of circulating
  commemorative coins from Euroland that will surely ignite the
  people's interest in coin collecting the way the State Quarter
  Program did in the United States."

  Wayne Homren, Editor

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