Created on 15.06.2011

The Bank of Latvia has issued a new silver 1-lats collector coin Rīga within the international coin programme Hansa Cities. Like the other coins within the series Hansa Cities, this coin has been designed by artist Gunārs Krollis and modelled by sculptor Jānis Strupulis. The coins have been struck by Rahapaja Oy in Finland.

The Bank of Latvia collector coins are miniature works of art dedicated to the Latvian treasures: events, accomplishments, people, and nation's cultural values. The Hanseatic League, an alliance of German trading cities, was established by Lübeck, Hamburg and Bremen in the middle of the 13th century, afterwards uniting around 200 cities. From the end of the 13th century to the middle of the 16th century, eight Latvian towns – Riga, Ventspils, Cēsis, Kuldīga, Straupe, Limbaži, Valmiera, and Koknese – were also among them.

Riga was a member of the Hanseatic League from 1282 to the final disintegration of the League. Trade that within the Hanseatic League took place between Western Europe and the lands of eastern Slavs brought wealth and might to Medieval Riga. Over time, Riga evolved as a major port of the Baltic Sea Region.

The coin Riga is the concluding coin in the Hansa Cities series, which comprises eight coins, each dedicated to one Hansa city of Latvia. These coins are the symbols of the past and present of the cities; for the city councils, enterprises and people they serve as nice souvenirs to be presented to friends, guests and visitors. The city coat of arms on the obverse and Hanseatic ship reflection on the reverse are the unifying motifs of all the coins.

The silver 1-lats collector coin Rīga is legal tender in the Republic of Latvia. Its maximum circulation is 15 000, with 7 000 coins traded in Latvia. The coin dedicated to the Hanseatic League is on sale at the Bank of Latvia cashier offices and such traditional points of sale as banks and souvenir and jewellery shops. The price of the coin at the Bank of Latvia cashier offices is 33.20 lats.

Description of the coin

For editors

Money in form, collector coins are, in fact, works of art. They are usually made of gold, silver or other precious metals of especially high fineness. As opposed to currency in general circulation, collector coins are usually not intended to be used as a means of payment but as a gift, souvenir or collector's item. Consequently, the price of collector coins is considerably higher than their nominal value.

Since the re-introduction of the lats, the Bank of Latvia has already issued 82 collector coins of which more than 10 have won awards at the most prestigious international events of coin design art.