Abstract

On December 17, 2001, 53.3 million money sets, or so-called starter kits, went on sale at banks and savings institutions throughout Germany. The idea was to familiarize people with the Euro before it was introduced as hard currency on January 1, 2002. The German starter kits, which were sold for 20 Deutschmarks each, contained a combination of Euro bills and Euro-cent coins worth 10.23 Euros. Although many Germans were sorry to see the Deutschmark go, the starter kits were extremely popular with the public – so popular that in many places they sold out on the first day. A total of 150 million starter kits were produced for and sold to residents of the twelve Euro states (Belgium, Germany, Finland, France, Greece, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal, and Spain). Most of the 17 billion Euro coins and five billion bills minted for Germany entered into circulation after January 1, 2002.