500 Francs Belgian European Union Presidency

Belgium held the rotating presidency of the EU Council in the second half of 2001 — a term that happened to coincide almost exactly with the introduction of euro banknotes and coins on January 1, 2002. This 500-franc piece was struck in the final months before the franc ceased to be legal tender, making it one of the last silver commemoratives issued under the Belgian franc system that had survived, in various forms, since 1832.

The timing was deliberate. Belgian monetary authorities had been winding down franc-denominated commemorative programs through the late 1990s in anticipation of monetary union.