Issuers of euro coins are legally the euro area member countries. In Finland, the sole right to issue coins has been conferred on the Bank of Finland by virtue of the Coins Act.
The coin series consists of eight denominations:
- 50 cent
- 20 cent
- 10 cent
- 5 cent
- 2 cent
- 1 cent
Finland applies rounding rules under which retail payments are rounded in principle to the nearest 5 cent. Due to the rounding rules in cash payments one and two cent coins are not widely used in Finland. These smallest denomination coins are however also legal tender in Finland, but retailers are not bound to accept them, if they declare this separately. The rounding rules are based on an Act passed in 2000; in this respect, Finland is an exception among the euro area countries. In some other euro area countries, rounding rules have been introduced based on separate agreements.
The value side of each coin features a design common to all euro area countries, and has been designed by Luc Luycx of the Royal Belgian Mint. The reverse side reflects national identities, as chosen by each member country. All euro coins with their different national identities are legal tender in all euro area countries.
€2 commemorative coins and collector coins
Each member state of the Eurosystem can issue two €2 commemorative coins per year. Commemorative coins have the same features and properties and the same common side as normal €2 coins but the commemorative design on the national side differs from the normal €2 coins. In addition, euro countries may jointly issue commemorative coins to commemorate events of Europe-wide importance. These jointly issued commemorative coins use a common design on the national side, showing the name of the issuing country and the event commemorated in the respective language(s).
Commemorative coins are legal tender throughout the euro area. They can be used and must be accepted just like normal euro coins.
Each euro area country can also issue collector coins, the value of which must not be the same as the value of coins included in the euro coin series. Collector coins are legal tender only in the country where they have been issued.
In Finland, collector coins, €2 commemorative coins, as well as 1 and 2 cent coins are sold by Suomen Moneta (Oy Nordic Moneta Ab).