1 Ecu 40th anniversary of European Parliament

The European Currency Unit was never legal tender in Germany — it existed only as a basket currency for accounting and exchange-rate mechanisms under the European Monetary System. Germany's decision to issue ECU-denominated collector pieces in 1992 was therefore a political gesture rather than a monetary one, timed to coincide with the Maastricht Treaty negotiations that would eventually dissolve the ECU entirely in favor of the euro. The 40th anniversary of the European Parliament placed the founding year at 1952 — technically the Common Assembly of the European Coal and Steel Community, which didn't formally become the "European Parliament" until 1962.