Accession to the euro

From the 1st of January 2002 a common currency, the euro, was introduced in twelve countries of the European Union. It was possible to make bank transfers in euros already starting from 1999 but the seven euro banknotes and eight coins came into use three years later. The euro denomination appeared parallel with the kroon on an Estonian postage stamp for the first time in 1999 when the stamp dedicated to the 50th anniversary of the Council of Europe was issued. In the period from 2006 to 2010 the face value on Estonian stamps was shown in both kroons and in euros. The stamp issued to mark Estonia’s transition to the euro currency is the first Estonian stamp on which the face value with the symbolical denomination of €1 is indicated in euros alone. Postage stamps with the face value in kroons will be valid for postage until December 31, 2013; stamps with the face value in two currencies will be valid for postage indefinitely.