Cyprus Euro Coins
On 10 July 2007, the Council of the European Union approved Cyprus' application to join the euro area on January 1,
2008. The euro (EUR) replaced the Cyprus pound (CYP) at the irrevocably fixed exchange rate of €1 = CYP 0.585274.
The prompt pre-distribution of euro cash to professional third parties prior to 1 January 2008 helped to ensure a
smooth cash changeover, alleviate the logistical burden and reduce the costs of dual currency circulation. The
pre-distribution of euro banknotes to banks commenced on November 19, 2007; while coins were pre-distributed as from
October 22, 2007. In addition, the Central Bank of Cyprus, banks and co-operative credit societies started selling
euro coin starter kits to the public on December 3, 2007.
As from 1 February 2008, only euro banknotes and coins may be used for payments in Cyprus, but banks and
co-operative credit societies will be able to exchange Cyprus pound banknotes and coins free of charge at the
fixed conversion rate until June 30, 2008. Fees are charged if the amount per customer and transaction exceeds
CYP 1,000 for banknotes, and CYP 50 for coins. Thereafter, it will still be possible to exchange Cyprus pound
banknotes for ten years and coins for two years at the Central Bank of Cyprus.
Please take a look at The Cyprus Mint.
The official public contest for the design of the Cypriot euro coins ended on October 14, 2005 and defined what
the required motifs of the respective coins should encompass. The Cypriot euro coins bear the name Cyprus written
in both Greek and Latin alphabets, representing the two national languages of Greek and Turkish.
- The 1 cent, 2 cent and 5 cent coins picture the Mouflon, the most characteristic species of fauna in
Cyprus, representing the island's nature and wildlife
- The 10 cent, 20 cent and 50 cent coins picture the Kyrenia ship of 4th Century B.C., representing
Cyprus's history and its character as an island as well as its importance in trade
- Finally, the €1 and €2 coins picture the Idol of Pomos, a cross-shaped idol dating back to the
Cypriot chalcolithic period (3000 B.C.), found in Pomos, a village in the district of Paphos. It is a
characteristic example of prehistoric art in Cyprus, representing the island's antiquity, culture and
American artist Erik Maell and Greek artist Tatiana Soteropoulos were chosen by the Central Bank of Cyprus to
create and illustrate the designs to be used for the final coins, who were awarded a prize of CYP 5,000.
The Cypriot 2 euro coin edge inscription
|The sequence "2 EYPΩ 2 EURO" repeated twice (2 EURO in Greek and Turkish)
Mintmarks on Cypriot euro coins
|Represents the Finnish Mint, were the coins were minted (Rahapaja Oy)