Hestian euro

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The Bank of Heist building in the historic centre of Heist-op-den-Berg.
Heist-op-den-Berg uses the euro to make cash payments. The Republic used the euro unofficially during the first eight months of its existence and only became its official currency on July 1st 2012.

History

Immediately after the independence in November 2011, Heist was in need of a way to pay in cash and a solution. Using the euro was the only option for the Republic since its small economy couldn’t maintain a stable currency on its own and the country had used it for years being a former part of Belgium, a eurozone country.

The Bank of Heist (Dutch: Bank van Heist) was founded together with a board of directors to start up negotiations with the European Union. It was decided that local meetings would be organized in the former community hall, a late 19th century building very close to the House of Vogt and other buildings of the government. Later on, this would become the official building of the Bank of Heist. It soon became clear that Heist-op-den-Berg never would be allowed to enter the Eurozone as an independent nation. The European Union unanimously agreed Heist-op-den-Berg should form a monetary and customs agreement with Belgium, comparable to other micro states on the continent. If this agreement could exist for at least ten years without problems, Heist-op-den-Berg would be allowed to follow the same integration steps like all other micro states.

This type of agreement and politics wasn’t new in the EU and therefor for the European Commission nothing more than a formality. Belgium agreed to mint 780.000 coins a year for the Republic, but insisted to lower this original maximum mintage quantity to 510.000 from 2013 onwards because it put too much pressure on the Royal Mint of Belgium. The agreement between the two countries was signed on January 29th 2012.

The ECB calculated that the Republic needed about 5.4 million eurocoins or about 2.3 million euros for its introduction. Since Belgium refused to produce more than 780.000 pieces a year, only the 2012 €0.01, €0.02 and €2 coins are produced by the Royal Mint of Brussels. All other denominations, including the 2012 €2 commemorative coin, are produced by the Monnaie de Paris.

The development and production went very smoothly. The first coins, €0.02 and €1, were already put into circulation on July 1st 2012. €0.01, €0.20 and €2 followed in September 2012, together with the first commemorative €2 coin. Finally, the €0.05, €0.10 and €0.50 coins were introduced in February 2013.

The 2012 and 2013 coins produced in Belgium are engraved by the Royal Mint of Brussels, indicated on the coin by a feather (2012) and cat (2013) privy mark. From 2014 onwards, the Bank of Heist has its own engraver, who choose to use a snail privy mark. The globus cruciger, indicating the coins were minted in Brussels remains present on all coins throughout.

Regular coins

The regular coins of the country depict known buildings and art. Every coin represents one municipality of the country, excepting the €2 coins which bears a Swan, the national symbol and animal of the country. A summary of the coins:

National side Value Edge Description
1ctHeist.png €0.01 Smooth Pillory of Gestel
2ctHeist.png €0.02 Smooth with a groove Town hall of Hallaar
5ctHeist.png €0.05 Smooth XVIIIth century Wimpel barn in Wiekevorst
10ctHeist.png €0.10 Fine scallops Asparagus peasant. Statue referring to the history of the people of Schriek. Donated to celebrate the parish’s 900th anniversary in 2009.
20ctHeist.png €0.20 Plain Pietà inspired statue to commemorate the fallen WWI soldiers of Itegem.
50ctHeist.png €0.50 Fine scallops The castle of Booischot.
1euHeist.png €1.00 Interrupted milled The wrought iron pump of the Hestian artist Arthur Vereecke.
2euHeist.png €2.00 Fine milled, a repetition of two swans followed by two stars The national symbol of the Republic.

Commemorative Coins

Commemorative €2 coins

Very similar to other countries in the Eurozone a series of commemorative €2 coins was announced. These eurocoins are used to commemorate mostly minor and/or foreign events. They are always produced in small mintages and sold in coincards to the public. These include:

Date National side Mintage Subject Edge
2012 TYEHeist.png 60,000 10 years of euro coins and banknotes. Fine milled, a repetition of two swans followed by two stars
2012 40,000 Olympic Games in London. Fine milled, a repetition of two swans followed by two stars
2013 800YWiekevorst.png 100,000 Wiekevorst 800 years. Fine milled, a repetition of two swans followed by two stars
2013 2euTdF.png 100,000 100th edition of the Tour de France. Fine milled, a repetition of two swans followed by two stars
2014 100,000 International year of crystallography. Fine milled, a repetition of two swans followed by two stars
2014 100,000 150th anniversary of the Hestian railway system. Fine milled, a repetition of two swans followed by two stars
2015 100,000 Bicentennial of the Congress of Vienna Fine milled, a repetition of two swans followed by two stars
2015 EuFlag2015.png 95,000 European Flag’s 30th anniversary Fine milled, a repetition of two swans followed by two stars
2016 CommRio2016.png 75,000 Games of the XXXI Olympiad in Rio de Janeiro, Brasil. Fine milled, a repetition of two swans followed by two stars
2016 Indep2016.png 75,000 Fifth anniversary of the Republic. Fine milled, a repetition of two swans followed by two stars
2017 22/05/17 TBE 50th anniversary of the A l'Innovation great fire. Fine milled, a repetition of two swans followed by two stars
2018 15/01/18 TBE 50th anniversary of the Language Affaire of Louvain. Fine milled, a repetition of two swans followed by two stars
2018 10/12/18 TBE 70 years of Human Rights Fine milled, a repetition of two swans followed by two stars

Commemorative €5 coins

In 2015, a second series of coins was announced. These coins, issued in (.835) silver (0.5600 oz pure silver content) have a nominal value of €5 and will support the foreign attention to the Republic as well as inform the native population of its own history. The first design of this series of silver coins was minted in November 2015. From 2016 onwards, two new coins will join this series each year.

Date Frontside Backside Value Diameter Thickness Weight Composition Subject Mintage Edge lettering
2015 20115eu1.png 20115eu2.png 5 euro (€5)
36 mm
2 mm
20.86 g
Silver alloy
83.50% silver
16.50% copper
450th anniversary of the coats of arms of the Republic and its swan as the national symbol 30,000 SIGILLUM + REI + PUBLICAE + HEYST +.
2016 20165eu1.png 20165eu2.png 5 euro (€5)
36 mm
2 mm
20.86 g
Silver alloy
83.50% silver
16.50% copper
70th anniversary of the local history association "Die Swaene" and the Swaenemuseum. 16,000 IGNOTI ~ NULLA ~ CUPIDO ~
2016 20165eu3.png 20165eu4.png 5 euro (€5)
36 mm
2 mm
20.86 g
Silver alloy
83.50% silver
16.50% copper
140th anniversary of the separation of Hallaar and 180 years of autonomy in Booischot 33,000 HEIST + OP + DEN + BERG ++ 835/1000 + FIJN + ZILVER ++
2017 20175eu1.png 20175eu2.png 5 euro (€5)
36 mm
2 mm
20.86 g
Silver alloy
83.50% silver
16.50% copper
40th anniversary of the Communal Unification. 41,000 IN • MEMORIAM • JOSEPH • MICHEL • 835‰ •
2017 20175eu3.png 20175eu4.png 5 euro (€5)
36 mm
2 mm
20.86 g
Silver alloy
83.50% silver
16.50% copper
150th birthday of Lodewijk Liekens. TBE NETEGOUW + EN + DEMERDAL +
2018 March 11th March 11th 5 euro (€5)
36 mm
2 mm
20.86 g
Silver alloy
83.50% silver
16.50% copper
Hof van Riemen 1468-2018 TBE TBE
2018 September 4th September 4th 5 euro (€5)
36 mm
2 mm
20.86 g
Silver alloy
83.50% silver
16.50% copper
100th anniversary of the death of Frans Coeckelberghs and his participation in the Flemish Movement. TBE TBE

Statistics

Table 1 shows all mintage figures. Production quantities are calculated based on the natural fluctuations in demand and economic data. Notice that the mintage figures of the €2 coins only include the regular coins.

Year €0.01 €0.02 €0.05 €0.10 €0.20 €0.50 €1.00 €2.00
2012 130,000 114,000 1,342,000 1,300,000 690,000 732,000 600,000 470,000
2013 - - 145,000 88,800 41,600 36,300 45,900 40,500
2014 35,100 30,600 130,000 72,800 30,600 29,600 38,700 26,900
2015 - - 109,000 59,800 25,700 - 28,100 -
2016 26,800 - 87,100 39,200 - 28,500 - -
2017 TBE TBE TBE TBE TBE TBE TBE TBE

Table 2 shows the estimated amount of coins and their respective value circulating at the beginning of each year:

Denomination 2013 2014 2015 2016 2017
Qty Value (k€) Qty Value (k€) Qty Value (k€) Qty Value (k€) Qty Value (k€)
€0.01 123,500 1.24 111,150 1.11 135,135 1.35 121,622 1.22 136,259 1.36
€0.02 108,300 2.17 97,470 1.95 118,323 2.37 106,491 2.13 95,842 1.92
€0.05 1,297,267 64.86 1,355,782 67.79 1,395,397 69.77 1,411,370 70.57 1,404,379 70.22
€0.10 1,297,267 127.83 1,324,869 132.49 1,353,507 135.35 1,368,190 136.82 1,361,783 136.18
€0.20 673,575 134.72 706,136 141.23 719,082 143.82 726,805 145.36 708,635 141.73
€0.50 713,180 356.59 746,716 373.36 761,382 380.69 746,154 373.08 759,731 379.87
€1.00 590,000 590.00 616,233 616.23 634,392 634.39 641,346 641.35 619,968 619.97
€2.00 464,125 928.25 493,022 986.04 507,596 1,015.19 494,906 989.81 482,534 965.07
Grand Total 5,237,880 2,244.68 5,451,378 2,320.20 5,624,814 2,382.93 5,616,884 2,360.33 5,569,131 2,316.31