5 euro note explained

Country:	European Union^[1]
Denomination:	Five euros
Value:	5
Unit:	euro
Colour:	Grey^[2]
Width Mm:	120
Height Mm:	62
Security Features:	First series: hologram stripe with perforations, reflective glossy stripe, EURion constellation, watermarks, raised printing, microprinting, ultraviolet ink, security thread, matted surface, see-through number, barcodes and serial number Europa series: portrait watermark, portrait hologram, emerald number^[3]
Paper Type:	Cotton fibre^[4]
Years Of Printing:	1999–2011 (1st series) Since 2011 (Europa series)^[5]
Obverse:	EUR 5 obverse (2013 issue).png
Obverse Design:	Arch in Classical architecture
Obverse Designer:	Robert Kalina^[6]
Obverse Design Date:	10 January 2013
Reverse:	EUR 5 reverse (2013 issue).png
Reverse Design:	Bridge in Classical architecture and map of Europe
Reverse Designer:	Robert Kalina
Reverse Design Date:	10 January 2013

The five-euro note (€5) is the lowest value euro banknote. It has been used since the introduction of the euro (in its cash form) in 2002.^[7] The note is used in the 25 countries that have it as their sole currency (with 23 legally adopting it), which countries have a total population of about 343 million currently.^[8] In July 2023, there were approximately 2,159,000,000 five-euro banknotes in circulation around the eurozone. It is the fifth-most widely circulated denomination, accounting for 7.2% of the total banknotes.^[9] Estimates suggest that the average life of a five-euro banknote is less than a year before it is replaced due to wear.^[10]

Measuring 120 x 62 mm, it is the smallest of the euro notes, and has a grey colour scheme.^[11] The five-euro banknotes depict bridges and arches/doorways in Classical architecture (up to the fifth century). The five-euro note contains several complex security features such as watermarks, invisible ink, holograms and microprinting that document its authenticity.

On 8 November 2012, the European Central Bank announced the first series of notes will be replaced by the Europa series, starting with the five-euro note on 2 May 2013.^{[11] [12]}

History

See main article: History of the euro. The euro was founded on 1 January 1999, when it became the currency of over 300 million people in Europe.^[13] For the first three years of its existence, it was an invisible currency, only used in accountancy. Euro cash was not introduced until 1 January 2002, when it replaced the national banknotes and coins of the countries in eurozone 12, such as the Irish pound and the Austrian schilling.

Slovenia joined the Eurozone in 2007,^[14] Cyprus and Malta in 2008,^[15] Slovakia in 2009,^[16] Estonia in 2011,^[17] Latvia on 1 January 2014,^[18] Lithuania on 1 January 2015^[19] and Croatia on 1 January 2023.^[20]

The changeover period

The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, going from 1 January 2002 until 28 February 2002. The official date on which the national currencies ceased to be legal tender varied from member state to member state.^[13] The earliest date was in Germany, where the mark officially ceased to be legal tender on 31 December 2001, though the exchange period lasted for two months more. Even after the old currencies ceased to be legal tender, they continued to be accepted by national central banks for periods ranging from ten years to forever.^[21]

Changes

Notes printed before November 2003 bear the signature of the first president of the European Central Bank, Wim Duisenberg, who was replaced on 1 November 2003 by Jean-Claude Trichet, whose signature appears on issues from November 2003 to March 2012. Notes issued after March 2012 bear the signature of the third president of the European Central Bank, incumbent Mario Draghi.

Until May 2013 there was only one series of euro notes, however a new series, similar to the first one, is planned to be released.^[22] The bank notes are going to be replaced in ascending order.^[23] Therefore, the first new note is the five-euro note that has been in circulation since 2 May 2013. Its new design was made public on 10 January 2013 in the Archaeological Museum of Frankfurt (Germany). While broadly similar to the current notes, minor design changes include an updated map and a hologram of Europa.^[24] Moreover, the new notes will reflect the expansion of the European Union; the current issues do not include the recent members Cyprus and Malta (Cyprus is off the map to the east and Malta was too small to be depicted^[25]). It will be the first time in which the Bulgarian Cyrillic alphabet is going to be used on the banknotes as a result of Bulgaria joining the European Union in 2007. Therefore, the new series of Euro banknotes will include "ЕВРО", which is the Bulgarian spelling for EURO as well as the abbreviation "ЕЦБ" (short for Европейска централна банка in Bulgarian).^[26] The European Central Bank will, in due time, announce when banknotes from the first series lose legal-tender status.^[27]

Design

The five-euro note is the smallest at 120x with a grey colour scheme.^[11] All bank notes depict bridges, arches or doorways in a different historical European style; the five euro note shows the Classical era (up to the fifth century).^[28] Although Robert Kalina's original designs were intended to show real monuments, for political reasons the bridge and art are merely hypothetical examples of the architectural era.^[29]

Like all euro notes, it contains the denomination, the EU flag, the signature of the president of the ECB and the initials of said bank in different EU languages, a depiction of EU territories overseas, the stars from the EU flag and twelve security features as listed below.

Security features (first series)

As a lower-value note, the security features of the five-euro note are not as high as the other denominations; however, it is protected by:

• A hologram, tilt the note and one should see the hologram image change between the value and a window or doorway, but in the background, one should see rainbow-coloured concentric circles of micro-letters moving from the centre to the edges of the patch.^[30]
• A EURion constellation, special printing processes give the euro notes their unique feel.
• A glossy stripe, tilt the note and a glossy stripe showing the value numeral and the euro symbol will appear.
• Watermarks, it appears when the banknote is against the light.
• Raised printing, special methods of printing makes the ink feel raised or thicker in the main image, the lettering and the value numerals on the front of the banknotes. To feel the raised print, run your finger over it or scratch it gently with your fingernail.^[31]
• Ultraviolet ink, Under ultraviolet light, the paper itself should not glow, fibres embedded in the paper should appear, and should be coloured red, blue and green, the European Union flag looks green and has orange stars, the ECB President signature turns green, the large stars and small circles on the front glow and the European map, a bridge and the value numeral on the back appear in yellow.^[32]
• Microprinting, On numerous areas of the banknotes you can see microprinting, for example, inside the "ΕΥΡΩ" (EURO in Greek characters) on the front. You will need a magnifying glass to see it. The tiny text is sharp, and not blurred.
• A security thread, The security thread is embedded in the banknote paper. Hold the banknote against the light - the thread will appear as a dark stripe. The word "EURO" and the value can be seen in tiny letters on the stripe.^[33]
• Perforations, Hold the banknote against the light. You should see perforations in the hologram which will form the € symbol. You should also see small numbers showing the value.
• A matted surface, the note paper is made out of pure cotton, which feels crisp and firm, but not limp or waxy.
• Barcodes,
• A serial number.

Security features (Europa series)

• Watermark: When the note is held under a normal light source, a portrait of Europa and an electrotype denomination appear on either side.^{[34] [35]}
• Portrait Hologram: When the note is tilted, the silver-coloured holographic stripe reveals the portrait of Europa-the same one as in the watermark. The stripe also reveals a window and the value of the banknote.
• Emerald Number: When the note is tilted, the number on the note displays an effect of light that moves up and down. The number also changes colour from emerald green to deep blue.
• Raised Printing: On the front of the note, there is a series of short raised lines on the left and right edges. The main edge, the lettering and the large value numeral also feel thicker.
• Security Thread: When the note is held against the light, the security thread appears as a dark line. The Euro symbol (€) and the value of the banknote can be seen in tiny white lettering in the thread.
• Microprint: Tiny letters which can be read with a magnifying glass. The letters should be sharp, not blurred.
• Ultraviolet ink: Some parts of the banknote shine when under UV or UV-C light. These are the stars in the flag, the small circles, the large stars and several other areas on the front. On the back, a quarter of a circle in the centre as well as several other areas glow green. The horizontal serial number and a stripe appear in red.
• Infrared light: Under infrared light, the emerald number, the right side of the main image and the silvery stripe are visible on the obverse of the banknote, while on the reverse, only the denomination and the horizontal serial number are visible.

Circulation

The European Central Bank is closely monitoring the circulation and stock of the euro coins and banknotes. It is a task of the Eurosystem to ensure an efficient and smooth supply of euro notes and to maintain their integrity throughout the euro area.

In December 2022, there were €5 banknotes in circulation around the Eurozone.^[36] for €.

This is a net number, i.e., the number of banknotes issued by the Eurosystem central banks, without further distinction as to who is holding the currency issued, thus also including the stocks held by credit institutions.

Besides the date of the introduction of the first set to January 2002, the publication of figures is more significant through the maximum number of banknotes raised each year. The number is higher at the end of the year, except for this note in 2002.

The figures are as follows (Nov. 3, 2017):

Date	Banknotes	€ Value	Date	Banknotes	€ Value
January 2002			December 2008
December 2003			December 2009
December 2004			December 2010
December 2005			December 2011
December 2006			December 2012
December 2007

In May 2013, a new 'Europe' series was issued.

The first series of notes were issued in conjunction with those for a few weeks in the series 'Europe' until existing stocks are exhausted, then gradually withdrawn from circulation. Both series thus run parallel but the proportion tends inevitably to a sharp decrease in the first series.

Date	Banknotes	€ Value	Series '1' remainder	€ Value	Proportion
December 2013					49.6%
December 2014					29.2%
December 2015					22.5%
December 2016					19.0%
December 2017					16.7%
December 2018					15.1%
December 2019					14.0%
December 2020					13.4%
December 2021					13.1%
December 2022					12.2%

The latest figures provided by the ECB are the following :

Legal information

Legally, both the European Central Bank and the central banks of the eurozone countries have the right to issue the seven different euro banknotes. In practice, only the national central banks of the zone physically issue and withdraw euro banknotes. The European Central Bank does not have a cash office and is not involved in any cash operations.

Tracking

There are several communities of people at European level, most of which is EuroBillTracker,^[37] that, as a hobby, it keeps track of the euro banknotes that pass through their hands, to keep track and know where they travel or have travelled.^[37] The aim is to record as many notes as possible to know details about its spread, like from where and to where they travel in general, follow it up, like where a ticket has been seen in particular, and generate statistics and rankings, for example, in which countries there are more tickets.^[37] EuroBillTracker has registered over 155 million notes as of May 2016,^[38] worth more than €2.897 billion.^[38]

Notes and References

1. [Institutions of the European Union|Institutions]
2. Web site: ECB: Security Features. ECB.
3. Web site: ECB: Security features. 9 July 2015. European Central Bank. ecb.int.
4. Web site: ECB: Security Features. 22 October 2011. European Central Bank. ecb.int. 2002. https://web.archive.org/web/20120830025720/http://www.ecb.int/euro/html/security_features.en.html. 2012-08-30. dead.
5. News: New €5 note to be circulated from Thursday - RTÉ News . Raidió Teilifís Éireann . 30 April 2013 . RTÉ . 7 August 2013.
6. Web site: Europa series design - ECB - Our Money . www.new-euro-banknotes.eu . 6 August 2013 . 2013.
7. News: Witnessing a milestone in European history. Back Issue. The Herald. 1 January 2002. 23 October 2011. 8 November 2012. https://web.archive.org/web/20121108044250/http://pqasb.pqarchiver.com/smgpubs/access/97637858.html?dids=97637858:97637858&FMT=ABS&FMTS=ABS:FT&type=current&date=Jan+01,+2002&author=Alf+Young%3B+on+Tuesday&pub=The+Herald&desc=Witnessing+a+milestone+in+European+history&pqatl=google. dead.
8. • Web site: Andorran Euro Coins . 2003 . 15 October 2011 . Eurocoins.co.uk . https://www.webcitation.org/69xG0zWU4?url=http://www.eurocoins.co.uk/andorra.html . 16 August 2012 . dead .
   • Web site: By UNMIK administration direction 1999/2 . Unmikonline.org . 4 October 1999 . 30 May 2010 . dead . https://web.archive.org/web/20110607234444/http://www.unmikonline.org/regulations/admdirect/1999/089%20Final%20%20ADE%201999-02.htm . 7 June 2011 .
   • Web site: By monetary agreement between France (acting for the EC) and Monaco . 31 May 2002 . 30 May 2010 .
   • Web site: By monetary agreement between Italy (acting for the EC) and San Marino . 27 July 2001 . 30 May 2010 .
   • Web site: By monetary agreement between Italy (acting for the EC) and Vatican City . 25 October 2001 . 30 May 2010 .
   • Web site: ECB: Map of euro area 1999 – 2011 . 1 January 2011 . 27 October 2011 . ECB . ecb.int .
   • Web site: Total population as of 1 January . Epp.eurostat.ec.europa.eu . 2011-03-11 . 2011-07-17 .
   • Web site: The "Europa" series of banknotes . ECB . 2013-01-10 . 2013-01-13 .
9. Web site: ECB Statistical Data Warehouse,Reports>ECB/Eurosystem policy>Banknotes and coins statistics>1.Euro banknotes>1.1 Quantities. ECB. European Central Bank.
10. Web site: Eurozone's new 5-euro note: Coming to a wallet near you. Deutsche Welle.
11. Web site: ECB: Banknotes. European Central Bank. 2002. 1 January 2013.
12. Web site: European Central Bank unveils new 5-euro note due 02.05.2013 . Banknote News . 10 January 2013 . 10 January 2013.
13. Web site: ECB: Introduction. ECB. 21 October 2011 .
14. Web site: Slovenia joins the euro area - European Commission . European Commission . 16 June 2011 . 6 August 2013 . dead . https://web.archive.org/web/20130911232930/http://ec.europa.eu/economy_finance/focuson/focuson9120_en.htm . 11 September 2013 .
15. News: Cyprus and Malta adopt the euro - BBC NEWS . BBC News . 1 January 2008 . British Broadcasting Corporation . 6 August 2013.
16. News: Slovakia Joins Decade-Old Euro Zone - Businessweek . https://archive.today/20130806122707/http://www.businessweek.com/stories/2008-12-31/slovakia-joins-decade-old-euro-zonebusinessweek-business-news-stock-market-and-financial-advice . dead . August 6, 2013 . Bloomberg Businessweek . 31 December 2008 . Bloomberg . 6 August 2013 . Kubosova, Lucia.
17. News: Estonia to join euro zone in 2011 . RTÉ News . 13 July 2010 . Radió Teilifís Éireann . 6 August 2013.
18. Web site: Latvia Gets Green Light to Join Euro Zone -WSJ.com . Wall Street Journal . 9 July 2013 . 31 July 2013 . Van Tartwijk, Maarten . Kaza, Juris.
19. Web site: Lithuania joins the euro area. European Central Bank. January 2015. 2023-09-10.
20. Web site: Croatia joins the euro area. European Central Bank. January 2023. 2023-09-10.
21. Web site: Press kit - tenth anniversary of the euro banknotes and coins . Central Bank of Ireland . ECB . 2011 . 21 August 2012 . 14 November 2012 . https://web.archive.org/web/20121114220243/http://www.centralbank.ie/about-us/Documents/PRESSKIT%20-%2010th%20anniversary%20of%20the%20euro.pdf . dead .
22. Web site: ECB Monthly bulletin- August 2005 - THE EURO BANKNOTES: DEVELOPMENTS AND FUTURE CHALLENGES . ecb.int . ECB . August 2005 . 21 August 2012 . p.43, section 'THE SECOND SERIES OF EURO BANKNOTES'.
23. Web site: Euro Series Introduction . 7 July 2013.
24. News: ECB Said to Use Greek Myth for Security on New Euro Notes . Bloomberg . 1 September 2012 . Bloomberg . 7 August 2013 . Randow, Jana.
25. Web site: The Euro: Banknotes: Design elements. 2009-07-05. European Central Bank. European Central Bank. The banknotes show a geographical representation of Europe. It excludes islands of less than 400 square kilometres because high-volume offset printing does not permit the accurate reproduction of small design elements..
26. Web site: Superimpose - ECB - Our Money . Our Money . 7 August 2013 . 2013 . https://web.archive.org/web/20130213051604/http://www.new-euro-banknotes.eu/Euro-banknotes/Compare/Compare-both-5-banknotes/Superimpose/(cur_bn)/171 . 2013-02-13 . dead .
27. Web site: MONTHLY BULLETIN - 10th anniversary OF THE ECB . European Central Bank . 7 August 2013 . 2008.
28. Web site: ECB: Banknotes . ecb.int . European Central Bank . 2002 . 5 December 2011.
29. News: Money talks — the new Euro cash. December 1996. 13 October 2011. BBC News.
30. Web site: ECB:Tilt. ECB. ecb.int. 1 January 2002. 22 October 2011. https://web.archive.org/web/20121019082551/http://www.ecb.int/euro/banknotes/security/tilt/html/index.en.html. 2012-10-19. dead.
31. Web site: ECB: Feel. ECB. ecb.int. 1 January 2011. 22 October 2011. https://web.archive.org/web/20111021234601/http://www.ecb.int/euro/banknotes/security/feel/html/index.en.html. 2011-10-21. dead.
32. Web site: ECB: Additional features. ECB. ecb.int. 1 January 2002. 22 October 2011. https://web.archive.org/web/20111023172924/http://www.ecb.int/euro/banknotes/security/additional/html/index.en.html. 2011-10-23. dead.
33. Web site: ECB: Look. ECB. ecb.int. 1 January 2002. 22 October 2011. https://web.archive.org/web/20111023172929/http://www.ecb.int/euro/banknotes/security/look/html/index.en.html. 2011-10-23. dead.
34. Web site: ECB: Europa series . ECB . 24 June 2013 . 2013.
35. Web site: THE NEW €5 - ECB - Our Money . Our Money . ECB . 24 June 2013 . 2013 . https://web.archive.org/web/20130630101341/http://www.new-euro-banknotes.eu/Euro-banknotes/Security-features/FEEL/THE-NEW-5 . 2013-06-30 . dead .
36. Web site: ECB: Circulation. ECB. 7 May 2022. European Central Bank.
37. Web site: EuroBillTracker - About this site. 1 January 2002. 21 October 2011. Philippe Girolami, Anssi Johansson, Marko Schilde. EuroBillTracker.
38. Web site: EuroBillTracker - Statistics. 1 January 2002. 21 October 2011. Philippe Girolami, Anssi Johansson, Marko Schilde . EuroBillTracker.