Statutory Document No. 5/96
THE CURRENCY ACT 1992
Currency Act (Isle of Man Euro Coins) Order 1996
Approved by Tynwald on the 20th February 1996
Coming into effect on the 26th February1996
In exercise of the powers conferred on the Treasury by Section 6 (1) of the Currency Act 1992(a) and all other powers enabling it in that behalf, the following Order is hereby made:-
Citation and Commencement 1. This Order may be cited as the Currency Act (Isle of Man Euro Coins) Order 1996 and shall come into operation on the 26th February 1996.
Interpretation 2. In this Order -
"the Act" means the Currency Act 1992;
"Euro" means European Currency Unit; and
"the Coins" means the coins issued by the Treasury which are of the denomination specified in column (i) of the Schedule, the denominations of which are the Isle of Man Euro and multiples of the Isle of Man Euro.
Currency Parity and Rate of Exchange 3. (1) The Isle of Man Euro shall have parity with the European Currency Unit.
(2) For all purposes the sterling equivalent of the Isle of Man Euro shall be equal in value in pounds sterling of the European Currency Unit as quoted at the closing mid-point rate of exchange for the then latest complete bank business day (within the meaning of the Bills of Exchange Act 1883 (b)) and as subsequently published in the Financial Times.
Form and Weight of the Coins 4. The coins shall be of the diameter, metal composition, weight, remedy, rim and shape specified in columns (ii) to (vii) of the Schedule.
Legal Tender 5. The coins shall be legal tender at their face value for the payment of any amount.
(a) 1992 c.14. (b) 1883 Vol V, page 310. Price 50p 1 Design of the Coins 6. The design of the coins shall be as follows :-
(a) On the obverse there shall be an effigy of Her Majesty the Queen by Raphael Maklouf with the inscription "ISLE OF MAN ELIZABETH II" and the year of the issue.
(b) On the reverse there shall be :-
(i) An effigy of a shield bearing the Cushag, placed upon a decorative stand, surrounded by twelve stars and the Euro value in words and figures;
(ii) An effigy of three herrings on a shield within a horseshoe, surrounded by twelve stars and the Euro value in words and figures;
(iii) An effigy of a chough on a shield with a decorative border, surrounded by twelve stars and the Euro value in words and figures;
(iv) A design portraying the piece "El Sombrero de tres picos", a portrait of De Falla below surrounded by laurel leaves, the inscriptions "De Falla", "El Sombrero de tres picos" and "Spain ten years membership EC" and the Euro value in words and figures. 12 stars surround the design;
(v) A design portraying a scene from La Boheme, when Rudolph sang to Mimi "Your tiny hand is frozen", a portrait of Puccini below surrounded by laurel leaves, the inscriptions "Puccini" and "1896 First Performance La Boheme" and the Euro value in words and figures. 12 stars surround the design;
(vi) A design portraying the piece "Aida", where Rhamades is with the Queen, a portrait of Verdi below surrounded by laurel leaves, the inscriptions "Verdi" and "1996 125th Anniversary of Aida" and the Euro value in words and figures. 12 stars surround the design;
(vii) A design portraying the piece "The Harp that once through Tara's Halls", a portrait of Moore below surrounded by laurel leaves, the inscriptions "Moore", "The Harp that once through Tara's Halls" and "Poet and Author of "Irish Melodies"" and the Euro value in words and figures. 12 stars surround the design;
(viii) A design portraying Schubert playing the piano with colleagues in the background, a portrait of Schubert below surrounded by laurel leaves, the inscriptions "Schubert" and "1997 200th Anniversary Birth of Schubert" and the Euro value in words and figures. 12 stars surround the design;
(ix) A design portraying the piece "The Wedding March", a portrait of Mendelssohn below surrounded by laurel leaves, the inscriptions "Mendelssohn", "The Wedding March" and "150th Anniversary Birth of Mendelssohn" and the Euro value in words and figures. 12 stars surround the design;
(x) A design portraying a Waltz scene, a portrait of Strauss below surrounded by laurel leaves, the inscriptions "Strauss", "The Waltz" and "1997 1000th Anniversary of Austria" and the Euro value in words and figures. 12 stars surround the design;
(xi) A design portraying Sweelink playing his organ, a portrait of Sweelink below surrounded by laurel leaves, the inscriptions "Sweelink" and "Netherlands EU Presidency 1997" and the Euro value in words and figures. 12 stars surround the design;
(xii) An effigy of two falcons on a shield with seven smaller shields, surrounded by twelve stars and the Euro value in words and figures;
- 2 - (xiii) An effigy of a loaghtan sheep's head on a shield with a decorative border, surrounded by twelve stars and the Euro value in words and figures;
(xiv) An effigy of a Viking ship on a shield with a decorative ribbon flowing from an armoured helmet, surrounded by twelve stars and the Euro value in words and figures;
(xv) An effigy of a Manx cat portrayed on a shield with wings, surrounded by twelve stars and the Euro value in words and figures; and
(xvi) An effigy of the Triskeles on a shield with decorative ribbon, surrounded by the twelve stars and the Euro value in words and figures.
Modification of Act 7. The Act shall have effect in relation to the coins -
(a) as if the currency of the Island included the coins;
(b) with the omission of Section 2 (1) to (3); and
110 (c) as if the reference to face value in Section 4 were a reference to the sterling equivalent of the face value.
-3 SCHEDULE
4STANDARD METAL COMPOSITION OR FINENESS, DIAMETER AND WEIGHT OF ISLE OF MAN EURO COINS
(i) (ii) (iii) (iv) (v) (vi) (vii) Face Standard Type of Millesimal Standard Weight Rim/Shape Value Diameter Metal Composition Weight Remedy Description Denomination mm or Fineness gms gms
1 Euro 22.50 Bronze 70 Cu/24.5 Zn/5.5 Ni 9.50 0.08 interrupted m/r 2 Euros 30.00 Cupro Nickel 75 Cu/25 Ni 13.50 0.19 plain* 2.5 Euros 38.60 Cupro Nickel 75 Cu/25 Ni 28.28 0.08 milled/round 3 Euros 28.40 Mixed Metal 81 Cu/10 Sn/9 Ni 8.00 0.12 interrupted m/r 5 Euros 26.00 Bi-metal 75 Cu/25 Ni 7.50 0.11 interrupted m/r 92 Cu/6 AI/2 Ni 10 Euros 30.00 Silver 925.0 10.00 0.027 milled/round 10 Euros 30.00 Silver 925.0 20.00** 0.027 milled/round 15 Euros 13.92 Gold 999.0 1.2447 0.0022 milled/round 15 Euros 38.60 Silver 925.0 19.20 0.055 milled/round 20 Euros 38.60 Silver 925.0 28.28 0.055 milled/round 25 Euros 17.95 Gold 999.0 3.112 0.0055 milled/round 30 Euros 17.95 Platinum 999.5 3.112 0.0055 milled/round 50 Euros 65.00 Silver 999.0 155.923 0.25 milled/round urns 22.00 Gold 999.0 6.22 0.013 milled/round urns 22.00 Gold 500.0 6.22 0.013 interrupted m/r 60 Euros 22.00 Platinum 999.5 6.22 0.013 milled/round 75 Euros 22.00 Gold 999.9 3.112 0.011 milled/round (Bi-metal) Platinum 999.5 3.112 100 Euros 75.00 Silver 999.0 311.746 0.400 milled/round 100 Euros 30.00 Gold 999.0 15.559 0.027 milled/round
NOTES * Apex to base 7 sided curved equilateral heptagon Zn Zinc ** Piedfort - Double thickness Sn Tin interrupted m/r - interrupted milled/round Cu Copper Ni Nickel Al Aluminium
-4- Made this 24 day of January 1996
Minister for the Treasury
Explanatory Note
(This note is not part of the Order)
The Currency Act (Isle of Man Euro Coins) Order 1996 authorises the Treasury to issue 16 different designs of base and precious metal Euros and multiple versions thereof. The Order provides for the Isle of Man Euro to have parity with the European Currency Unit, and for the determination of its rate of exchange. The Order also specifies the amounts for which the Isle of Man Euros are legal tender.