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70 ECUs - Elizabeth II Ariane Space Programme
| Issuer | Gibraltar |
|---|---|
| Year | 1993-1994 |
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| Reference(s) | KM#634 |
| Obverse description | Right-facing crowned effigy of Queen Elizabeth II, wearing the George IV State Diadem, pearl drop earrings, and a pearl necklace, after the portrait by Raphael Maklouf. The legend ELIZABETH II arcs along the left field, GIBRALTAR along the upper right, and the date 1993 followed by a dot appears at lower right. The engraver's initials RDM appear discreetly below the truncation of the bust. |
|---|---|
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| Obverse lettering | ELIZABETH II GIBRALTAR • 1993 PM |
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| Additional information |
The ECU — European Currency Unit — was never legal tender in the conventional sense, existing purely as a basket currency and accounting unit underpinning the European Monetary System from 1979. Gibraltar's decision to issue ECU-denominated collector coins in the early 1990s was opportunistic but technically legitimate; several non-EU territories did the same as the continent edged toward Maastricht. This particular piece commemorates Ariane, the European Space Agency's launch vehicle programme headquartered at Kourou, French Guiana, which by 1993 had captured roughly half the global commercial satellite launch market — a commercially staggering achievement for a multinational cooperative.