Euros are divided into 100 cents. Euro coins exist in denominations of 1 cent, 2 cents, 5 cents, 10 cents, 20 cents and 50 cents. In addition, the European Union mints €1 and €2 coins for circulation.
Euros have been in existence within the European Union since 1999, with notes and coins entering circulation in 2002. Several countries in the European Union chose to keep their own currency when the euro was instituted, notably Denmark, Sweden and the United Kingdom. In addition, as of 2014, some newer countries to the European Union still use their national currencies, including Bulgaria, Croatia, the Czech Republic, Hungary, Lithuania and Romania. These countries reportedly plan to switch to the euro in the future.