On 1 January 2002, the euro banknotes and coins were introduced in 12 Member States of the European Union, with seven different banknotes and eight coins. The arrival of the euro, however, means much more than exchanging one currency for another. It involves individuals and businesses not only in the countries that have joined the single currency, but all over the world. It is in all our best interests to familiarise ourselves with the look and feel of the euro banknotes and coins. The new coins – 50 billion of them – have one side common to all 12 countries and a reverse side specific to each country, while the 14.5 billion banknotes look the same throughout the euro area. Altogether, the banknotes and coins produced total over €664 billion.