Just what is an ECU?

291fifth

Is the ECU an early name for the EURO or is it something different? Are coins with denominations in ECU convertible to EUROS?

1jester

I believe the ECU is an early name for what became the EURO. The European Union developed from the European Economic Community to the European Community, and they always had planned to have the Euro, but denominated some things in what was called the ECU (European Currency Unit) before the Euro finally came into being.

CIVITAS

"Ecu" = "shield" in French.

I believe the reference in French numismatics is to the French arms usually displayed on this denomination. An "ecu d'or" for example.

Jester is probably correct about modern interpretation which coincidentally matches the old french denomination.

akdrv

The European Currency Unit (ECU) was a basket of the currencies of the European Community member states, used as the unit of account of the European Community. The European Exchange Rate Mechanism attempted to minimize fluctuations between member state currencies and the ECU. The ECU was also used in some international financial transactions.

On January 1, 1999, the euro replaced the ECU, at the value EUR 1 = XEU 1. Unlike the ECU, the euro is a real currency.

No official ecu coins were ever issued. All ecu's you see on eBay are fantasy or early pattern coins.