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On 1 January 2002, the Euro banknotes and coins were introduced in 12 Member States of the European Union, with seven different banknotes and eight coins. The new coins – 50 billion of them – have one side common to all 12 countries and a reverse side specific to each country, while the 14.5 billion banknotes look the same throughout the Euro area. Altogether, the banknotes and coins produced total over €664 billion.
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