2.7.2014 Official Journal of the European Union L 194/1 II (Non-legislative acts) REGULATIONS COUNCIL REGULATION (EU) No 729/2014 of 24 June 2014 on denominations and technical specifications of euro coins intended for circulation (Recast) THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on the Functioning of the European Union, and in particular Article 128(2) thereof, Having regard to the proposal from the European Commission, Having regard to the opinion of the European Parliament, Having regard to the opinion of the European Central Bank, Whereas: (1)  Council Regulation (EC) No 975/98 of 3 May 1998 on denominations and technical specifications of euro coins intended for circulation (*) has been substantially amended several times (?). Since further amendments are to be made, it should be recast in the interests of clarity. (2)  According to Article 128(2) of the Treaty, Member States may issue euro coins subject to approval by the Euro- pean Central Bank (ECB) of the volume of the issue. The Council, on a proposal from the Commission and after consulting the European Parliament and the ECB, may adopt measures to harmonise the denominations and tech- nical specifications of all coins intended for circulation to the extent necessary to permit their smooth circulation within the Union. (3)  Euro banknotes range from 5 to 500 euro. The denominations of banknotes and coins need to allow for cash payments of amounts expressed in euro and cent to be facilitated. (4)  The single coinage system of the Union should encourage public confidence and entail technological innovations which ensure that it is a secure, reliable and efficient system. (5)  The acceptance of the system by the public is one of the main objectives of the coinage system of the Union. Public confidence in the system depends on the physical characteristics of the euro coins, which should be as user-friendly as possible. (6)  Consultations with consumer associations, the European Blind Union and representatives of the vending machines industry were carried out to take into account the specific requirements of important categories of coin users. In order to ensure a smooth changeover to the euro and to facilitate acceptance of the coinage system by users, easy distinction between coins through visual and tactile characteristics needed to be guaranteed. () OJL139,11.5.1998,p. 6. () See Annex II.