Euro banknotes and coins first entered everyday circulation in 2002. The cash changeover began on 1 January in the participating countries, replacing national notes and coins such as the German mark, French franc, and Italian lira.
The euro had already become an official currency in 1999 for electronic payments, accounting, and financial markets. This created a transition period in which people could use national cash while banks and businesses prepared for the new currency.
The first euro cash series included seven banknote denominations and eight coin denominations. Euro coins share a common side but have national designs on the other side, allowing participating countries to retain a visible cultural identity.
Not every European Union member adopted the euro at the same time. Some countries had opt-outs or had not yet met the conditions for joining, and several EU members still use national currencies today.