Created on 01.11.2012

To celebrate the 90th anniversary of the central bank and the national currency unit, the lats, the Bank of Latvia is issuing a new 5-lats silver collector coin. The coin has been struck using the original forms of 1929. The artist of the coin is Rihards Zariņš (1869–1939), and the date of issuing is 1 November 2012.

We should pay attention to meaningful coincidences: this is the 90th anniversary of the lats and the 90th collector coin minted during the years of Latvia's renewed independence. Collector coins issued by the Bank of Latvia are miniature works of art dedicated to the Latvian treasures: events, achievements, people and the nation's cultural values. Freedom fights did not cease after the proclamation of independent Republic of Latvia, yet the time for a national issuing bank and full-fledged national currency to emerge came only after the internal and external consolidation of statehood and serious deliberations about the principles underlying the national economy and monetary system. On 1 November 2012, the Bank of Latvia is marking its 90th anniversary, with the anniversary of the national currency unit to follow on the next day. One of the creators of the new banknote and coin design was graphic artist Rihards Zariņš. Assisted by Percy Metcalfe, an outstanding engraver from the Royal Mint (UK), he created the 5-lats silver coin, which became the symbol of Latvia's freedom and statehood and whose design, notwithstanding the flow of time, continues its existence on present-day Latvia's banknotes and coins and the reverse of national euro coins.

The renewed 5-lats coin will be released at a solemn ceremony dedicated to the 90 year-long history of the Bank of Latvia on 1 November with academician Jānis Stradiņš, representatives from the Royal Mint of the United Kingdom, who have brought a unique historical display with them, and other prominent people participating.

The 5-lats silver collector coin is legal tender in the Republic of Latvia. The maximum mintage of the coin is 10 000. The coin is on sale at the Bank of Latvia's new Cashier's Office at K. Valdemāra iela 1B (opened from 8:30). The coin's price at the Bank of Latvia Cashier's Office is 36.30 lats. The description of the coin is enclosed.

Information 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 issued 90 collector coins, of which many have won awards at the most prestigious international events of coin design art.