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The pound (Irish: punt) was the currency of Ireland until 2002. Its ISO 4217 code was IEP, and the symbol was £ (or £Ir for distinction. [1]) The Irish pound was replaced by the euro on 1 January 1999. [2] Euro currency did not begin circulation until the beginning of 2002.
Ireland adopted the euro as its currency along with most of its EU partners on 1 January 2002. The national side of the Irish euro coins bears the coat of arms of Ireland and the 12 stars of the EU, the year of imprint and the Irish name for Ireland, Éire, in the traditional Irish script. These coins circulate throughout the eurozone.
There have been three sets of coins in Ireland since independence. In all three, the coin showed a Celtic harp on the obverse.The pre-decimal coins of the Irish punt had realistic animals on the reverse; the decimal coins retained some of these but featured ornamental birds on the lower denominations; and the euro coins used the common design of the euro currencies.
Slang terms for money often derive from the appearance and features of banknotes or coins, their values, historical associations or the units of currency concerned. Within a language community, some of the slang terms vary in social, ethnic, economic, and geographic strata but others have become the dominant way of referring to the currency and are regarded as mainstream, acceptable language ...
Irish euro coins all share the same design by Jarlath Hayes, that of the harp, a traditional symbol for Ireland since the Middle Ages, based on that of the Brian Boru harp, housed in Trinity College Dublin. The same harp is used as on the official seals of the Taoiseach, and government ministers and the seal of the president of Ireland.
The euro became the currency of the eurozone countries, including Ireland, on 1 January 1999. As with all eurozone countries, Ireland continued to mint its own banknotes after the currency changeover to the euro. Previously issued Irish banknotes circulated concurrently with the newer Irish-minted euro denominated banknotes.
The Irish pound was created as a separate currency in 1927 with distinct coins and notes, but the terms of the Currency Act 1927 obliged the Irish currency commissioners to redeem Irish pounds on a fixed 1:1 basis, and so day-to-day banking operations continued exactly as they had been before the creation of the Irish pound. [27]
Pound is a name of various units of currency. It is used in some countries today and previously was used in many others. The English word "pound" derives from the Latin expression lībra pondō, in which lībra is a noun meaning 'pound' and pondō is an adverb meaning 'by weight'.