Pre-Euro Banknote Collectors: A Complete Guide to Countries

In the world of notaphily, collectors of pre-euro banknotes occupy a special place. These enthusiasts seek to preserve a piece of European history from before monetary unification with the euro in 2002 for most countries, and later for others. With Bulgaria's upcoming adoption of the euro in early 2026, interest in old eurozone banknotes has grown exponentially. In this post, we'll explore the fascinating world of pre-euro banknote collectors, including all banknotes from the pre-euro series of countries that currently use the euro, plus Bulgaria. Whether you're a novice or experienced collector, this streamlined guide will help you understand the historical, cultural, and economic value of these paper treasures.

The History of Pre-Euro Banknotes and the Emergence of the Euro

Before the introduction of the euro, each country in the current eurozone had its own national currency, with banknotes reflecting its cultural, historical, and artistic identity. The euro was launched as an accounting currency in 1999 and in physical form in 2002 for the initial 12 countries: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. Slovenia (2007), Cyprus and Malta (2008), Slovakia (2009), Estonia (2011), Latvia (2014), Lithuania (2015), and Croatia (2023) subsequently joined. Bulgaria will join in January 2026, marking the end of its lev.

Pre-euro banknotes represent an era of monetary diversity, where each nation printed unique designs featuring iconic figures, landscapes, and patriotic symbols. For collectors, these banknotes are more than just paper; they are artifacts that tell stories of economic and cultural independence. Market value varies: a mint condition (UNC) banknote can cost anywhere from a few euros to hundreds, depending on rarity and demand.

Why collect pre-euro banknotes? Pre-euro numismatics combines nostalgia with investment. Over time, these banknotes become increasingly rare, especially those from limited series or with printing errors. Furthermore, in a digital world, owning physical banknotes connects you to the past.

Why Collectors Love Pre-Euro Banknotes

Collectors of pre-euro banknotes have a variety of motivations. First, the historical aspect: these banknotes capture key moments, such as post-war Germany with the mark or the colonial era in Portugal with the escudo. Second, the artistic design: many banknotes feature works of art, monuments, and/or portraits of geniuses like Mozart in Austria or Christopher Columbus in Spain. Third, the economic potential: complete sets of uncirculated pre-euro banknotes can appreciate by 5-10% annually.

To optimize your collection, focus on complete series. Avoid worn banknotes (VG or F) and look for uncirculated (UNC) notes. Platforms like Colnect or numismatic forums are ideal for exchanges.

Now, let's look in detail at all the banknotes from the pre-euro currency by country, based on the latest series in circulation.

Pre-Euro Banknotes by Country: A Comprehensive Review

Austria (Austrian Shilling)

The last series of the Austrian schilling (1997) and the penultimate series (1983-1989) were used until 2002. Denominations:

  • 20 shillings (1986): Moritz Daffinger and Albertina of Vienna.
  • 50 shillings (1987): Sigmund Freud and Josephinum.
  • 100 shillings (1985): Eugen von Böhm-Bawerk and the Academy of Sciences.
  • 500 shillings (1986/1997): Otto Wagner and Postal Savings Bank; Rosa Mayreder and meeting of women's associations.
  • 1000 shillings (1983/1997): Erwin Schrödinger and University of Vienna; Karl Landsteiner and laboratory.
  • 5000 shillings (1989): Wolfgang Amadeus Mozart and Vienna State Opera.

These banknotes, designed by Robert Kalina, are popular among collectors for their modern elegance.

Belgium (Franco-Belgian)

Series 1994-1998:

  • 100 BEF (1995): James Ensor and theatrical masks; Baths in Ostend.
  • 200 BEF (1996): Adolphe Sax and saxophone; musicians in Dinant.
  • 500 BEF (1998): René Magritte and trees; Le fils de l'ombre.
  • 1000 BEF (1997): Constant Permeke and boat; Sleeping farmer.
  • 2000 BEF (1994): Victor Horta and decorations; Art Nouveau with flowers.
  • 10,000 BEF (1997): King Albert II and Queen Paola; Royal Greenhouses of Laeken.

Ideal for modern art collectors.

Cyprus (Cypriot Pound)

1997 Series:

  • £1: Cypriot girl and Kato Drys with crafts.
  • £5: Limestone head and church/mosque in Peristerona.
  • £10: Mugwort and endemic fauna (bird, turtle, butterfly, etc.).
  • £20: Aphrodite and Kyrenia's ship with Petra Tou Romiou.

They reflect Cyprus' Greek and natural heritage.

Estonia (Estonian Crown)

Series 1991-2007:

  • 1 KR: Kristjan Raud and Castillo Toompea.
  • 2 KR: Karl Ernst von Baer and University of Tartu.
  • 5 KR: Paul Keres and Castillo de Narva.
  • 10 KR: Jakob Hurt and Oak Tamme-Lauri.
  • 25 KR: Anton Hansen Tammsaare and Vargamäe village.
  • 50 KR: Rudolf Tobias and Estonian Theatre.
  • 100 KR: Lydia Koidula and Baltic Klint.
  • 500 KR: Carl Robert Jakobson and swallow.

Focused on Estonian cultural figures.

Finland (Finnish Mark)

Series 1986-1993:

  • 10 mk: Paavo Nurmi and Helsinki Olympic Stadium.
  • 20 mk: Väinö Linna and Tammerkoski.
  • 50 mk: Alvar Aalto and Finland Hall.
  • 100 mk: Jean Sibelius and whooper swans.
  • 500 mk: Elias Lönnrot and forest trail.
  • 1000 mk: Anders Chydenius and Kuninkaanportti.

They highlight sporting and artistic achievements.

France (French)

Series 1992-1998:

  • 20 francs: Claude Debussy and La Mer.
  • 50 francs: Antoine de Saint-Exupéry and Breguet 14 biplane.
  • 100 francs: Paul Cézanne and fruit.
  • 200 francs: Gustave Eiffel and the Eiffel Tower.
  • 500 francs: Pierre and Marie Curie and laboratory equipment.

Icons of French culture.

Germany (German Mark)

1990 Series (with 1996-1998 updates):

  • DM 5: Bettina von Arnim and Brandenburg Gate.
  • DM 10: Carl Friedrich Gauss and sextant.
  • DM 20: Annette von Droste-Hülshoff and pen.
  • DM 50: Balthasar Neumann and Würzburg Residence.
  • DM 100: Clara Schumann and piano.
  • DM 200: Paul Ehrlich and microscope.
  • DM 500: Maria Sibylla Merian and dandelion.
  • DM 1000: Grimm Brothers and library.

They symbolize German ingenuity.

Greece (Greek Drachma)

The website did not provide specific details about the latest series, but it typically included denominations such as 50, 100, 200, 500, 1000, 5000, and 10,000 drachmas, featuring figures like Apollo and Alexander the Great. Collectors are looking for series from the 1990s with classical themes.

Ireland (Irish Pound)

Final series: £5, £10, £20, £50, £100. Designs not detailed, but focused on historical Irish figures such as Daniel O'Connell.

Italy (Italian Lira)

Series 1984-1997:

  • 1000 lire: Maria Montessori and a child studying.
  • 2000 lire: Guglielmo Marconi and Elettra boat.
  • 5000 lire: Vincenzo Bellini and Teatro Massimo.
  • 10,000 lire: Alessandro Volta and the voltaic pile.
  • 20,000 lire: Tiziano Vecellio.
  • 50,000 lire: Gian Lorenzo Bernini and Fontana del Tritone.
  • 100,000 lire: Caravaggio and Fruit Bowl.
  • 500,000 lire: Raffaello and Triumph of Galatea.

Rich in Renaissance art.

Latvia (Lats Latvian)

1992 Series:

  • Ls 5: Oak tree and solar ornament.
  • Ls 10: Daugava River Curves and Latvian Brooch.
  • Ls 20: Traditional house and woven linen.
  • Ls 50: Sailing ship and Riga seal.
  • Ls 100: Krišjānis Barons and Belt of Lielvārde.
  • Ls 500: Folk maiden and ornamental crowns.

Latvian cultural symbolism.

Lithuania (Lithuanian Litas)

Series 1993-2007:

  • 10 litų: Steponas Darius and Lituanica.
  • 20 litų: Maironis and Liberty sculpture.
  • 50 litų: Jonas Basanavičius and Vilnius Cathedral.
  • 100 litų: Simonas Daukantas and Vilnius University.
  • 200 litų: Vydūnas and Klaipėda Lighthouse.
  • 500 litų: Vincas Kudirka and Lithuanian landscape.

Focused on independence.

Luxembourg (Luxembourgish Franc)

Series 1966-1993:

  • 10 F: Grand Duke Jean and Grand Duchess Charlotte Bridge.
  • 20 F: Grand Duke Jean and Moselle landscape.
  • 50 F: Grand Duke Jean and steel mill.
  • 100 F (various): Grand Duke Jean with iconic buildings such as the Ducal Palace.
  • 1000 F: Grand Duke Jean and Vianden Castle.
  • 5000 F: Grand Duke Jean and Clervaux Castle.

They reflect the monarchy.

Malta (Maltese Lyre)

Series 1989-1994:

  • Lm 2: Melita and Banca Giuratale.
  • Lm 5: Mdina Gate and Declaration of Human Rights.
  • Lm 10: Sette Giugno Monument and national assembly.
  • Lm 20: George Borg Olivier and independence tablet.

Modern Maltese history.

Netherlands (Dutch Florin)

Ornamental Series 1993-1997:

  • ƒ10: Kingfisher.
  • ƒ25: Robin and poppy.
  • ƒ100: Owl and mouse.
  • ƒ1000: Lapwing and egg.

Natural designs.

Portugal (Portuguese Coat of Arms)

Discoveries Series 1995-2000:

  • 500 escudos: João de Barros and Casanatense Codex.
  • 1000 escudos: Pedro Álvares Cabral and ship.
  • 2000 escudos: Bartolomeu Dias and caravels.
  • 5000 escudos: Vasco da Gama and tapestry.
  • 10,000 escudos: Henry the Navigator and caravel.

It was an era of discovery.

Slovakia (Slovak Crown)

Series 1993-2006:

  • 20 Sk: Prince Pribina and Nitra Castle.
  • 50 Sk: Saints Cyril and Methodius and Dražovce Church.
  • 100 Sk: Madonna and Basilica of Levoča.
  • 200 Sk: Anton Bernolák and Trnava Tower.
  • 500 Sk: Ľudovít Štúr and Bratislava Castle.
  • 1000 Sk: Andrej Hlinka and churches.
  • 5000 Sk: Milan Rastislav Štefánik and Bradlo tomb.

Key Slovak figures.

Slovenia (Slovenian Tolar)

1992 Series:

  • 10 tolarjev: Primož Trubar and Ursuline Church.
  • 20 tolarjev: Johann Weikhard von Valvasor and map of Slovenia.
  • 50 tolarjev: Jurij Vega and Solar System.
  • 100 tolarjev: Rihard Jakopič and El Sol.
  • 200 tolarjev: Jacobus Gallus and Slovenian Philharmonic.
  • 500 tolarjev: Jože Plečnik and National Library.
  • 1000 tolarjev: France Prešeren and Zdravljica.
  • 5000 tolarjev: Ivana Kobilca and National Gallery.
  • 10,000 tolarjev: Ivan Cankar and chrysanthemum.

Slovenian culture.

Spain (Spanish Peseta)

1992 Series (Discoveries):

  • 1000 Points: Hernán Cortés and Francisco Pizarro.
  • 2000 Points: José Celestino Mutis and Botanical Garden.
  • 5000 Pts: Christopher Columbus and armillary sphere.
  • 10,000 Pts: Juan Carlos I and Jorge Juan.

The second to last one with writers.

Croatia (Croatian Kuna)

Series up to 2017:

  • 5 kuna: Fran Krsto Frankopan and Varazdin Castle.
  • 10 kuna: Juraj Dobrila and Arena of Pula.
  • 20 kuna: Josip Jelačić and Eltz Palace.
  • 50 kuna: Ivan Gundulić and Dubrovnik Old Town.
  • 100 kuna: Ivan Mažuranić and Rijeka Cathedral.
  • 200 kuna: Stjepan Radić and Osijek General Command.
  • 500 kuna: Marko Marulić and Diocletian's Palace.

Croatian history.

Bulgaria (Bulgarian Lev)

Current series (1999-2020), last before 2026:

  • 1 lev: Ivan Rilski and Rila Monastery.
  • 2 leva: Paisiy Hilendarski and Istoriya Slavyanobolgarskaya.
  • 5 leva: Ivan Milev and paintings.
  • 10th levy: Petar Beron and astronomical instruments.
  • 20 leva: Stefan Stambolov and bridges.
  • 50 leva: Pencho Slaveykov and poems.
  • 100 leva: Aleko Konstantinov and Bay Ganyo.

Preparing for the euro, these gain value.

Tips for Collectors of Pre-Euro Banknotes

To begin, buy from professional retailers like Iberoamericana Banknotes. We verify their authenticity using UV light, watermarks, and other anti-counterfeiting security features. Store them in acid-free albums. Invest in complete sets whenever possible to save on shipping costs, and finally, consider PMG certification. We can help you with all of this; contact us for a free consultation.

Conclusion: The Legacy of Pre-Euro Banknotes

Collectors of pre-euro banknotes preserve European diversity. With Bulgaria joining, now is the perfect time to start collecting. This guide covers all banknotes, inspiring you to explore European notaphily. Share your experiences in the comments!

Back to blog