The United Kingdom has not adopted the euro. It has negotiated and obtained a so-called “opt-out”. Nevertheless, it is possible to order online UK euro coins.
The UK’s opt-out is laid down in the Protocol on certain provisions relating to the United Kingdom of Great Britain and Northern Ireland (the UK Protocol). This Protocol is annexed to the TEC and forms an integral part thereof.
In accordance with this Protocol the UK retains its powers in the field of monetary policy under its national law. Furthermore, the UK is not obliged to join the euro area. It is for the UK to notify the EU Council whether it intends to do so.
On 30 October 1997 the UK notified the EU Council that it did not intend to adopt the euro at the start of the third stage of EMU on 1 January 1999. Pursuant to the UK Protocol a number of Treaty provisions concerning monetary policy do not apply to the UK.
Until the UK decides to join the euro area there will be no such thing as a British euro coin. Once the UK decides otherwise, and it complies with the rules governing the entrance of the euro area, it has the power to design a national side to ‘its’ euro coins.
For the time being, and legally speaking, one can not pay with British euro coins. However, as Allard Knook (ECJblog) has e-mailed me, this is not to say that one can not obtain British euro coins. A set of these coins is for sale online: 56 euro’s at www.eurocoins.co.uk.
