Cash is for everyone. Every day more than 350 million people in 21 countries use banknotes and coins to pay for their shopping. And euro banknotes and coins, which are an easy and safe way to pay, are everywhere.
If you have cash in your pocket, you can always pay for things, even if your phone battery runs out or there’s a power cut. Also, when you use cash to buy something in a shop, nobody will know what you like buying or where you usually spend your money.
The euro makes us stronger together, because all the countries in the Eurosystem use the same currency. And thanks to its banknote security features, people trust the euro, not just in the euro area, but in other parts of the world too. This helps our currency to be more stable and valued.
First, Eurosystem central banks have to work out how many banknotes and coins are needed each year so that people and businesses in the euro area can pay and save. Central banks also know that sometimes banknotes get torn, dirty or spoilt, and they need to be replaced with new ones.
Once they have decided how many banknotes to make, they order them from authorised printers, with very strict security measures. In Spain, banknotes are manufactured by IMBISA.
And coins are not printed, they are minted! In Spain they are minted by the National Mint (Fábrica Nacional de Moneda y Timbre), a public printing works. The Banco de España then puts them into circulation.
We’ve been using today’s banknotes for many years. As time goes by, new technologies emerge as do new ways of trying to copy banknotes. That’s why, every so often we need to make new, better and more modern banknotes.
The new banknote series will make sure that money continues to be secure, easy to use and environmentally friendly, now and in the future.
We say that cash “circulates” because it’s passed from one person to another! Click on the video “The life cycle of euro banknotes” to learn about their journey.
When banknotes come back to the Banco de España, we check them:
- If they’re in good condition, they go back into circulation and continue on their journey.
- If they’re torn, dirty or very old, they are destroyed and changed for new banknotes.
- If they’re fake (or counterfeits), they are withdrawn and handed over to experts who investigate them. They are not reused.
Banknotes in good condition are put back into circulation and so the cash cycle begins again.
Banknotes need to be designed to look nice so people like them. They also have to be secure, so they can’t be copied illegally (counterfeited), and environmentally friendly. That’s why euro banknotes are made from materials that are better for the planet, like sustainable cotton. Also, the Eurosystem tries to make less waste and recycle when it can, so it uses less energy when making banknotes.
Don't worry! If you bring more than half of your banknote to the Banco de España, we’ll change it for one in good condition. You can tell your family to check out how to change worn banknotes here
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There are eight euro coins: 1, 2, 5, 10, 20 and 50 cents, and 1 euro and 2 euro.
Every coin has two sides:
- A common side, which is the same in every European country that uses the euro.
- A national side, which has designs and symbols of the country where the coin was made, like Spain, France or Italy.
Although each country makes its own coins, they can all be used in any euro area country, as if they were exactly the same.
Some countries also make special €2 coins, called commemorative coins. These coins are created to mark important historical events or to celebrate cultural events. Each country can make up to two commemorative €2 coins per year, and as they can be used throughout the euro area they can be found in any country. If you want to find out more, check out their designs here.