50 euro note

Fifty euro (Eurozone and Institutions)
Value:	50 euro
Width:	140[1] mm
Height:	77[1] mm
Security Features:	Colour changing ink, a see through number, a hologram, a EURion constellation, a glossy stripe, watermarks, raised printing,ultraviolet ink, microprinting, a security thread, perforations, a matted surface, barcodes and a serial number.[2]
Paper Type:	100% pure cotton fibre[2]
Years of Printing:	2002 - present[3]
Obverse
Design:	Window in Renaissance architecture[4]
Designer:	Robert Kalina[5]
Design Date:	3 December 1996[5]
Reverse
Design:	Bridge in Renaissance architecture and map of Europe[4]
Designer:	Robert Kalina[5]
Design Date:	3 December 1996[5]

The fifty euro note (€50) is one of the middle value euro banknotes and has been used since the introduction of the euro (in its cash form) in 2002.^[6] The note is used daily by some 332 million Europeans and in the 22 countries which have it as their sole currency (with 20 legally adopting it).

It is the fourth smallest note measuring 140x77mm and has an orange colour scheme.^[4] The fifty euro bank notes depict bridges and arches/doorways in the Renaissance era (between the 15th and 16th century).

The fifty euro note contains several complex security features such as watermarks, invisible ink, holograms and microprinting that document its authenticity. In September 2011, there were approximately 5,699,719,400 fifty euro banknotes in circulation in the Eurozone 17.

[edit] Background

The fifty euro note is used daily by some 332 million Europeans^[7][1] and in the 22 countries which have it as their sole currency (with 20 legally adopting it).^[8]Both the European Central Bank and the central banks of the eurozone countries have the legal right to issue the 7 different euro banknotes. However, 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.^[3]

[edit] History

The hologram on the 50 euro note

The euro was founded on 1 January 1999, when it became the currency of over 300 million people in Europe.^[3] For the first three years of its existence it was an invisible currency, only used in accountance. 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.^[3]

The changeover period during which the former currencies' notes and coins were exchanged for those of the euro lasted about two months, until 28 February 2002. The official date on which the national currencies ceased to be legal tender varied from member state to member state.^[3] 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.^[9][3]

The note bears 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 subsequent issues.^[4] Until now there has been only one series of euro notes, however a new series, similar to the current one, is planned to be released in 2011.^[4]

[edit] Design

The fifty euro note is the fourth smallest note measuring 140x77mm with an orange colour scheme.^[4] All bank notes depict bridges and arches/doorways in a different historical European style; the fifty euro note shows the Renaissance era (between the 15th and 16th century).^[4] Although Robert Kalina's original designs were intended to show real monuments, for political reasons the bridge and the window are merely hypothetical examples of the architectural era.^[10]

Like all euro notes, it contains the denomination, the EU flag, the signature of the president of the ECB, the initials of said bank in the different EU languages, a depiction of EU territories overseas, the stars from the EU flag and various security features.^[4]

[edit] Security features

The watermark on the 50 euro note

The fifty euro note contains the following security features:

• Colour changing ink^[1] used on the numeral located on the back of the note, that appears to change colour from purple to brown, when the note is tilted.^[11]
• A see through number^[1] printed in the top corner of the note, on both sides, appear combine perfectly to form the value numeral when held against the light.^[12]
• A hologram,^[1] used on the note which appears to see the hologram image change between the value and a window or doorway, but in the background, it appears to be rainbow-coloured concentric circles of micro-letters moving from the centre to the edges of the patch. ^[11]
  

  

  Colour-shifting ink in the denomination
• A EURion constellation;^[1] the EURion constellation is a pattern of symbols found on a number of banknote designs worldwide since about 1996. It is added to help software detect the presence of a banknote in a digital image.^[1]
• A glossy stripe,^[1] situated at the back of the note, showing the value numeral and the euro symbol.^[1]
• Watermarks,^[1] which appear when held up to the light.^[1]
• Raised printing^[1] in the main image, the lettering and the value numerals on the front of the banknotes will be raised.^[13]
• Ultraviolet ink;^[1] the paper itself does not glow, fibres embedded in the paper do appear, and be coloured red, blue and green, the EU flag is green and has orange stars, the ECB President's, currently Jean-Claude Trichet's, 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.^[14]
• Microprinting,^[1] on various areas of the banknotes there is microprinting, for example, inside the "EYPΩ" (EURO in Greek characters) on the front. The micro-text is sharp, but not blurred.^[14]
  

  

  Microprinting next to the ECB President's signature
• A security thread,^[1] embedded in the banknote paper. The thread will appear as a dark stripe when held up to the light. The word "EURO" and the value is embedded in tiny letters on the thread.^[12]
• Perforations^[1] in the hologram which will form the euro symbol. There are also small numbers showing the value.^[12]
• A matted surface;^[1] the note paper is made out of pure cotton, which feels crisp and firm, but not limp or waxy.^[13]
• Barcodes,^[1]
• A serial number.^[1]

[edit] Circulation

As of September 2011, there are approximately 5,699,719,400 €50 banknotes in circulation around the Eurozone 17.^[15] The 50 euro note is the most commonly used banknote.^[15] The total value of the notes in circulation is approximately €284,985,969,600 (as of September 2011).^[15] The European Central Bank monitors the circulation and stock of the euro coins and banknotes. The Eurosystem has been tasked with ensuring an efficient and smooth supply of euro notes.^[15] The ATM machines dispense €50 notes but usually not higher notes, so they are much more used than the higher notes.

[edit] Tracking

There are several communities of hobbyists, such as EuroBillTracker,^[16] which track the euro banknotes as they pass through their hands, to record their numbers and monitor their travel.^[16] Their aim is to record is to ascertain details about its spread and to generate statistics and rankings for various notes.^[16] EuroBillTracker had registered over 96 million notes as of October 2011.^[17]

[edit] References