On the 1st of January 2008 the Euro became legal tender in Malta.
If you have some Maltese Lira or coins left over from your previous holidays you can still exchange them to Euros at the Central Bank of Malta. The exchange deadlines are 1st of February, 2010 for coins and 31st of January 2018 for notes.
Some people will opt to hold onto the old Maltese currency and this might be a good investment as long as the currency is in mint condition. Traditionally Maltese money and stamps have been sought after by collectors worldwide and this is also true with the new Maltese Euro coins. Thousands of collectors worldwide are snatching up these coins and it is no surprise that you will find many coins listed in auction sites such as eBay.
Being the smallest nation in the European Union it did not stop Malta from throwing a big party on the launch of the Euro on New Year's Day 2008. The changeover was hailed by the EU brass and the whole transition went by smoothly without any major hitches.
The Maltese Euro coins are legal tender within any of the 15 countries in the Eurozone and have been hailed by some as the 'most beautiful'.
The € 1 & € 2 coins:
The inner circle of the coin depicts the eight-pointed Maltese cross, on a background of vertical stripes.
The letters of ‘MALTA’ appear between the six upper points of the cross, and the year mark between the two lower points.
The twelve stars of the European flag are positioned on the outer ring of the coin.
The € 0.50, € 0.20 & € 0.10 coins:
The centre of the coin depicts the emblem of Malta.
The name of the country ‘MALTA’ and the year mark are engraved in an interrupted semicircle on the upper left- and right- hand sides of the emblem respectively.
The image and the inscription are surrounded by a ring of concentric circles on which appear the twelve stars of the European flag.
The € 0.05, € 0.02 & € 0.01 coins:
The centre of the coin depicts the altar at the prehistoric temple of Imnajdra on a horizontal decorative strip in the background.
The name of the country ‘MALTA’ and the year mark are engraved under the altar.
The engraver's initials ‘NGB’ are positioned on the right hand side under the decorative strip.
The image and the inscription are surrounded by the twelve stars of the European flag.
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