Collecting Euro Banknotes can be a very interesting hobby and an excellent investment. In this general article I will highlight some guidelines but one should also read general articles from various sources like Wikipedia’s Euro Banknotes.
One should recognize and differentiate the first, 2002, series from the second, Europa, series.
The Country Codes, also called National Identification Codes and the Printer Codes or Printer Identification Codes define to a large extend the collecting value of the Note and how rare it is.
The country code is the 1st letter of the serial number and indicates the Country issuing the banknote. For example, for the 2002 series, letter Z is reserved for Belgium, X for Germany, U for France and so on. The Country Code appears on the Reserve of the Note and is followed by an eleven digit number and when their digital root is calculated gives a checksum which also refers to a particular country. A typical code in the 2002 series will look like U24334201121 and Europa will be NA1420532416. In Europa series the second letter is part of the serial number with no specific significance. Note, in Europa series the first letter indicates always the location of the printer., N here is for Austria.
The Printer Code, defines in which country the printer is located. This is a six character code starting with a letter, followed by two digits then a single letter and single number, for example E010H3. The first letter defines the location of the printer. In the example E is assigned to F.C. Oberthur, location Chantepie, France. The next three digits define the number of the printing plate, in this case is plate ten. The next letter and digit define the row and column respectively. The printer code is always located on observe of the note. In Europa series the first letter of the printer code is always the same as the serial number first letter.
The signatory on the Note is also important. There are three European Bank Presidents who have signed notes. Wim Duisenberg, the first president, Jean Claude Trichet who replaced Duisenberg in 2003 and Mario Draghi the third President who replaced Trichet in 2012. Duisenberg served the shortest term, died of heart attack and by default Euro Banknotes bearing his signature are rare than others. As of 2018 Mario Draghi is the only President who has signed Europa series Notes with the exemption of a test 5 Euro note done by Belgium, signed by Trichet. This 5 Euro note, is a very rare note and command very high price. Further, Draghi has not signed a 5 Euro Note for 2002 series.
Following certain websites, one can get very good idea of the value of the Notes. Here are some rare banknotes and their estimated value, for top condition 10/10.
2002 series
5 Euro, country P( NL), printer G( NL ), print 006, signatory Duisenberg, estimated value 1800 Euro.
10 Euro, country U( FR ), printer L( FR ), print 015, signatory Duisenberg, estimated value 2800 Euro.
20 Euro, country U( FR ), printer L( FR ), print 036, signatory Trichet, estimated value 4400 Euro.
50 Euro, country Z( BEL ), printer T( BEL ), print 013, signatory Trichet, estimated value 5000 Euro. ( Z7…)
100 Euro, country U( FR ), printer P( GER ), print 007, signatory Duisenberg, estimated value 600 Euro.
200 Euro, country U( FR ), printer T( BEL ), print 001, signatory Duisenberg, estimated value 400 Euro.
500 Euro, country T( IR ), printer F( AUS ), print 001, signatory Duisenberg, estimated value 2500 Euro.
Europa series.
5 Euro, country printer N( AUS ), print 002, signatory Draghi, estimated value 300 Euro.
10 Euro, country printer T( IR ), print 004, signatory Draghi, estimated value 70 Euro. ( TD….)
20 Euro, country printer N( AUS ), print 004, signatory Draghi, estimated value 300 Euro.
50 Euro, country printer W ( GER ), print 005, signatory Draghi, estimated value 280 Euro. ( WB… )
Looking at the above prices, one can say that putting together a specialist collection can be very difficult, command a lot of knowledge and a lot of money, graded is a must. A collection of general interest is far more easy and the investment is not very high as compared to the nominal value. A general interest collection can be one where all denominations and signatures are included as well as the 2002 and Europa series. Top condition notes are desirable and if possible graded by a reputable company.
Tip. Collect any good condition notes with Duisenberg signature, specially the 5,10,20,50 Euro.