Euro coins and banknotes

Banknotes

The euro banknote system includes seven denominations: €5, €10, €20, €50, €100, €200 and €500.

Each banknote has a distinct colour and size for easy recognition, and they are all identical throughout the eurozone. Although production of the €500 note has ceased, it remains legal tender and can still be used for payments.

Coins

There are eight types of coins in circulation: 1, 2, 5, 10, 20 and 50 cent coins, as well as 1 and 2 euro coins Each coin features a common reverse design and a national obverse that varies by country. Collector coins, minted by Monnaie de Paris, can be exchanged or credited at face value at the Banque de France.

To ensure the proper functioning of the monetary system, it is important to use banknotes and coins in good condition for your daily payments.If you have damaged banknotes, we recommend visiting an IEDOM branch to exchange them.

There are two possible scenarios :

• If the banknote is genuine and more than 50% of its original surface area remains intact, you will receive an immediate exchange for a new note.}
• If the banknote is severely damaged (e.g. burned or torn), it will require expert analysis. Following examination, if the banknote is deemed refundable, a bank transfer will be issued at a later date.

The regulations on the use of cash (banknotes and coins) in France also apply to the overseas departments (Guadeloupe, French Guiana, Réunion, Martinique and Mayotte) and the overseas collectivities of Saint Pierre and Miquelon, Saint Martin and Saint Barthélemy.

Obligation to accept cash

Merchants are required to accept euro banknotes and coins, which are legal tender. Refusing to do so may result in a fine. However, they may request exact change, as they are not obliged to give change.

If you wish to pay in coins, please note that no merchant is required to accept more than 50 coins per transaction (except the French Treasury, up to a limit of €300).

Banknotes and coins must be in good condition.

Cash payment limits

For larger transactions, legal limits apply.

These limits are set out in Articles L.122-6 and D.112-3 of the French Monetary and Financial Code and apply in the French overseas departments and collectivities mentioned above.

The limits are as follows :

• €1,000 euros for transactions between professionals, or between a professional and a private individual when the payer is domiciled in France for tax purposes ;
• €10,000 euros when the payer is not domiciled in France for tax purposes, is not acting for professional purposes and is paying a person who is not subject to anti-money laundering obligations (Article L.561-2 of the Code) ;
• €15,000 euros when the payer is not domiciled in France for tax purposes, is not acting for professional purposes and is paying a person who is subject to to the aforementioned obligations (Article L. 561-2 of the CMF).

There are exceptions ! These limits do not apply to individuals without a bank account, persons subject to a banking ban, private transactions between individuals for non-professional purposes. However, written documentation is required as proof of payment for private cash payments exceeding €1,500.

The prevention of counterfeiting banknotes and coins is strictly governed by law

Counterfeiting or falsifying banknotes or coins is a criminal offence, subject to penal sanctions. As such :

• It is illegal to counterfeit, falsify or imitate currency.
• It is illegal to put counterfeit banknotes back into circulation.
• Exact reproduction of banknotes is also prohibited as this implies an intention to produce counterfeit currency.
• Note: Using the design or graphic elements of euro banknotes for illustrative purposes is permitted only if it does not constitute counterfeiting or unlawful imitation. This is strictly regulated to avoid confusion with real banknotes. Therefore, any project involving the reproduction of banknotes must first be approved by IEDOM.

These rules have practical consequences in everyday life

Therefore :

• Anyone who receives suspicious banknotes or coins must submit them to IEDOM for verification.
  • If the banknotes or coins are genuine, they will be exchanged free of charge.
  • If they are counterfeit, a receipt will be issued. Professionals may deduct the loss from their taxable income and the IEDOM receipt will serve as proof for accounting purposes.
• - Merchants are entitled to refuse payment with damaged banknotes, suspected fakes or notes that cannot be authenticated due to their condition.

The penalties for counterfeiting or falsifying banknotes or coins are severe.

The French Penal Code provides for fines and/or prison sentences for such offences :

• Article 442-1 of the French Penal Code : "Counterfeiting or falsifying coins or banknotes that are legal tender in France, or issued by authorised foreign or international institutions, is punishable by thirty years of criminal imprisonment and a fine of €450,000." ;
• Article 442-3 of the French Penal Code : "Counterfeiting or falsifying French or foreign coins or banknotes that are no longer legal tender or authorised for circulation is punishable by five years’ imprisonment and a fine of €75,000.’" ;
• Article 442-6 of the French Penal Code : "The manufacture, sale or distribution of any objects, printed matter or templates that resemble the monetary signs referred to in Article 442-1 in a way that may facilitate their acceptance as genuine currency is punishable by one year’s imprisonment and a fine of €15,000." ;
• Article 442-7 of the French Penal Code : "Anyone who, having received counterfeit or falsified monetary signs as referred to in Article 442-1 in good faith, later redistributes them after discovering the forgery, shall be liable to a fine of €7,500."