Banknotes and Coins Glossary

Banknotes and Coins Glossary

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Banknote briquette 
A conglomerate of tiny pieces of banknotes compacted by pressure. Banknotes that are unsuitable for circulation are destroyed and the residual material is generally compacted into briquettes.
Banknote design 
The process producing the artistic conception of a series of banknotes.
Banknote information campaign 
A series of actions applied to the achieve the objective of informing the public on the characteristics of banknotes. When the euro banknotes were issued, the European Central Bank and the national central banks carried out an intensive information campaign on their characteristics.
Banknote migration 
The passing of banknotes issued in one country to another, so that they are included in the notes in circulation in that country. Euro banknote migration occurs between countries in the euro area.
Banknote numbering 
Numbering allows to differentiate one banknote from another of the same denomination. Banknote numbering in euros is always printed twice on the reverse. One of the numberings of euro banknotes is optimally readable (OCR).
Banknote packaging 
A bundle of different units of groups of banknotes (hundred, thousand and tens of thousand). A common packaging standard has been established for euro banknotes.
Banknote printer 
The factory where banknotes are produced using the most advanced graphic art technology. In the Eurosystem there are currently fifteen printers authorised to produce euro banknotes. The quality control process followed by these banknotes guarantees that they are identical, regardless of the printer that produces them. Therefore, all euro banknotes have the same appearance and can be used in any of the machines that accept or dispense banknotes in the euro area.
Banknote security features 
Certain substances, special features or printing processes that are incorporated into the banknote during production thereof, which aid identification and prevent counterfeiting. Well-known examples of banknote security features are: the palpable raised intaglio dye layer, watermarks, see-through register and optically variable elements such as holograms and optically variable dyes.
Banknote sorting machine 
An automatic processing machine that counts banknotes, verifies their authenticity and classifies them by state of use.
Banknote to be verified 
A suspected counterfeit banknote which is presented (or sent) to the issuing central bank for verification. After being analysed, if the banknote is legitimate, the central bank gives the presenter a new banknote of equivalent value. If the banknote is counterfeit, the central bank communicates this fact to the presenter and does not exchange it for another banknote.
Banknote verification 
The evaluation of the legitimacy of euro banknotes is based on the verification of several security features by means of sight (observing the watermark, the security thread and see-through register against the light), touch (observing the tactile sensation produced by the raised intaglio print in the different parts of the obverse side of the banknote) and rotation (observing the optical effects produced by the hologram and optically variable dyes).
Banknote without legal tender status 

A banknote that is no longer legal tender. Although it cannot be used to make payments, it can be exchanged at the central bank for another banknote of equal value. Banknotes in pesetas are not longer legal tender, but they can be exchanged for euro banknotes in the Banco de España until 31 December 2020.