Depicts a vessel sailing floating under the twelve stars of the European Union, representing Europe. The issue year on the left, the monogram of the Italian Republic (RI) on the right, and the engraver's name below.

Decoration from the marble bas-relief with cavalry from the Parthenon frieze; below, on the right and on the left, the name of the sculptor “Phidias” and the mintmark “R”; in the centre, the coin's value; on top, arch-shaped, “Europe of Arts”.

The Parthenon frieze is the high-relief Pentelic marble sculpture created to adorn the upper part of the Parthenon’s naos. It was sculpted between c. 443 and 437 BC, most likely under the direction of Pheidias. Of the 160 meters (524 ft) of the original frieze, 128 meters (420 ft) survives—some 80 percent. The rest is known only from the drawings attributed to French artist Jacques Carrey in 1674, thirteen years before the Venetian bombardment that ruined the temple.

Phidias or Pheidias (c. 480 – 430 BC) was a Greek sculptor, painter, and architect. His Statue of Zeus at Olympia was one of the Seven Wonders of the Ancient World. Phidias also designed the statues of the goddess Athena on the Athenian Acropolis, namely the Athena Parthenos inside the Parthenon, and the Athena Promachos, a colossal bronze which stood between it and the Propylaea, a monumental gateway that served as the entrance to the Acropolis in Athens.