Commemorative coins issued by the Principality of Monaco

11.11.2015

Question for written answer E-014605-15
to the Commission
Rule 130
Izaskun Bilbao Barandica (ALDE)

The Principality of Monaco, under a special agreement allowing it to use and mint coins on its territory, recently issued a special two-euro coin to commemorate the building of the first castle on the Rock of Monaco. Both the number (10 000) and quality (proof coinage) of the coins issued, as well as the price at which they can already be found on the market (EUR 760), demonstrate that the aim of this operation is simply one of speculation on the coin collectors’ market. The conditions of issue in this case do not appear to be consistent with Article 2(b) of the Council Decision of 25 February 2011 on the arrangements for the renegotiation of the Monetary Agreement between the Government of the French Republic, on behalf of the European Community, and the Government of His Serene Highness the Prince of Monaco, which expressly prohibits such practices.

1. Is the Commission aware of the conditions under which this coin was issued?

2. Does she take the view that the issuing of this coin fulfils the requirements laid down in the aforementioned Council Decision?

3. What steps is intending to take to prevent such situations, in which coins seem to have been issued purely for reasons of speculation?