On Tuesday, 3 November, Latvijas Banka is issuing a 2 euro commemorative coin to honour 30 years of the European Union flag. The coin is legal tender in the Republic of Latvia and all the euro area countries. Like any other piece of circulation money, this coin will be released via commercial banks, special points of sale and other enterprises.
It will be available for exchange at the Cashier's Offices of Latvijas Banka in Riga and Liepāja as of Tuesday, 3 November. 10 000 Brilliant Uncirculated quality coins in special souvenir packing will also be struck (their price at Cashier's Offices of Latvijas Banka is 7.30 euro).
This 2 euro coin is jointly issued by the euro area countries. The design of the coin was picked via a design contest organised by the European Commission in which around 100 000 European voters participated. The coin is a dedication to the 30th anniversary of the adoption of the European flag as an official emblem of the European Union.
The graphic design of the coin has been created by Georgios Stamatopoulos of the Bank of Greece. The reverse of the coins issued by Latvijas Banka bears the inscription "LATVIJA", and similar to all other 2 euro circulation coins of the Republic of Latvia, the edge lettering is "DIEVS * SVĒTĪ * LATVIJU" (GOD BLESS LATVIA). The European or common side of commemorative coins, with the nominal displayed (artist Luc Luycx), and all other specifications do not differ from normal 2 euro circulation coins.
The new 2 euro commemorative coins are struck by Staatlichen Münzen Baden-Württemberg in Germany.
Georgios Stamatopoulos, the author of the winning design, has emphasised that the flag is a symbol uniting the nations and cultures that share a common future vision and ideals. The design features 12 stars that morph into human figures embracing the birth of a new Europe.
The issuing volume of commemorative coin 30 Years of the EU Flag is 1 million. The experience of Latvijas Banka shows that this volume is sufficient to meet the demand, at least for several weeks, from all interested parties.
Latvijas Banka is carrying on the tradition of minting circulation coins of special design. Each country in the euro area is entitled to issue two commemorative coins per year. Also, they are allowed to produce a third coin, provided that it is issued under a jointly organised programme. This year, Latvijas Banka has already issued a 2 euro commemorative coin honouring the Latvian Presidency of the Council of the European Union; towards the close of the year, it is envisaged to produce another 2 euro commemorative coin featuring the stork.