Updated: 26.01.2011

Riga, 8 June 2009

On 8 June the Bank of Latvia issues a new 1-lats circulation coin featuring a Namejs ring on the reverse. The coin is legal tender in the Republic of Latvia. The coins will be put into circulation similar to any other currency in circulation - access will be ensured to trading and other companies and inhabitants through banks. 

The coin has been designed by Ilze Libiete, the plaster model was made by Baiba Sime. This is the artists' debut in coin design. 

The new 1-lats coins were struck by Staatliche Münze Berlin in Germany. 

The coins featuring a stork, an ant, a mushroom, fairy-tale character Spriditis, the rooster of St. Peter's Church, a pretzel, a summer solstice wreath, a pinecone, an owl fibula, a snowman, a water lily and a chimney-sweep are also circulated. These coins will also be issued in the future until Latvia has become a full-fledged member of the Economic and Monetary Union and introduced the euro. 

Namejs ring is depicted on the reverse of the new 1-lats coin. On the obverse, the mintage year 2009 is displayed beneath the coat of arms of the Republic of Latvia. The new coin has the same edge, size, material and weight as other 1-lats circulation coins.  

Total batch of the coin is one million and will not be replenished, as is the case with other special circulation coins. The maximum number of coins is fixed to satisfy those individuals who are interested in keeping these coins, which would rarely appear in circulation (payments).