Plan Your Holiday - Madeira Currency
An Introduction to the Portuguese Notes and Coins used in Madeira
The unit of currency used in Madeira is the euro. Having a currency symbol “€”. The euro is divided up into 100 cents. 16 countries of the European Union have adopted the euro as their official currency. Today, over 329 million people of 16 European States use the euro. Outside of the European Union, there are countries who use the euro, either as legal tender or for practical purposes. This diverse range of usage means that although the size of the coins is standard, and they all have a standard design on one side, the obverse side has individual national designs. All euro notes have a standard design throughout the European Union.
| Euro & Cent Coin Denominations - National Madeira / Portuguese Design | |||
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| 1 Cent Coin | 2 Cent Coin | 5 Cent Coin | 10 Cent Coin |
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| 20 Cent Coin | 50 Cent Coin | 1 Euro Coin | 2 Euro Coin |
| Copyright © European Central Bank | |||
| Euro Note Denominations - National Madeira / European Union Design | |||||||||||
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| 5 Euro Note | 10 Euro Note | 20 Euro Note | 50 Euro Note | ||||||||
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| 100 Euro Note | 200 Euro Note | 500 Euro Note | |||||||||
| Copyright © European Central Bank | |||||||||||
Commemorative Portuguese Euro Coins Used in Madeira
Portugal has issued a number of commemorative €2 coins. Madeira, being a self governing, autonomous island of Portugal, shares these coins. On 1st June 2007, 2 million coins were issued to commemorate Portugal's 6 month Presidency of the Council of the European Union. The obverse side displays an image of a cork oak (Quercus suber); under the branches is the Portuguese coat of arms and the word POR TU GAL split over three lines. Along the bottom is the inscription 2007 PRESIDÊNCIA DO CONSELHO DA UE. 12 stars surround the design on the outer ring.
Also in 2007, 2 million commemorative €2 coins were issued by the Bank of Portugal to mark the 50 year anniversary of the Treaty of Rome. The anniversary was similarly commemorated by the other euro-issuing central banks. Apart from minor national differences, the design is consistent across all coins issued. An image depicting the treaty is shown on a background symbolising Michelangelo's paving on the Piazza del Campidoglio in Rome where the treaty was signed. The year, 2007, and the name of the issuing country are inscribed below the design. Again, 12 stars surround the design on the outer ring.
On the 15th September 2008, Portugal issued 600,000 coins to commemorate the 60th Anniversary of the Universal Declaration of Human Rights. The Portuguese coat of arms is the main feature of the design. The name, PORTUGAL, and the date of issue, 2008, and a geometric design also feature. The words 60 ANOS DA DECLARAÇÃO UNIVERSAL DOS DIREITOS HUMANOS circle around the bottom inner ring, followed by a small inscription reading: Esc. J. Duarte INCM. Again, 12 stars surround the design on the outer ring
In 2009, 1.285 million coins were issued to celebrate the 2nd Lusophony Games. The games are a multi-sport competition open to Portuguese speaking national Olympic committees. The event was held in Lisbon from July 11th to July 19th. The commemorative coin bears the Portuguese inscription: 2.OS JOGOS DA LUSOFONIA. The coin's graphical design shows the games' logo which represents an athlete, celebrating victory with a multicoloured ribbon.
| Euro €2 Commemorative Coins - National Madeira / Portuguese Design | ||
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| €2 EU Presidency 2007 | €2 Treaty of Rome 2007 | €2 Universal Declaration of Human Rights 2008 |
| Copyright © European Central Bank | ||
Brief Perspective of the Portuguese Escudo
Prior to the euro becoming the legal tender of Madeira, the Portuguese escudo was the official currency. There being no distinction of coins or banknotes between the Madeiran island and mainland Portugal. The escudo had been introduced on 22nd May 1911 and “escudo” is the Portuguese word for “shield”. The escudo was subdivided into 100 centavos. This name was derived from the Latin centum, meaning “one hundred”, and the suffix -avo, meaning “portion” or “fraction”. The escudo's value was initially set at 4$50 (4 escudos, 50 centavos) = £1 (1 pound sterling). However by 1928, the escudo value had fallen and it was once again fixed, this time at the rate of 108$25 = £1. In 1940, the value of the escudo was fixed against the US dollar at the rate of 27$50 = $1. The escudo was removed from circulation on 28th February 2002 at the rate of 200$482 = €1.
