Latvijas Banka is issuing a 2 euro commemorative coin dedicated to financial literacy

  • 2022-04-06
  • Latvijas Banka

Latvijas Banka is issuing a 2 euro commemorative coin dedicated to financial literacy on Tuesday, 12 April. 

Please note that the above coins in gift packaging and circulation coin rolls (25 coins per roll) will be available via the website only, starting from 12.00 p.m. on 12 April. Mail delivery (only on the territory of Latvia) or personal pick-up from Latvijas Banka Cashier's Offices at K.Valdemāra iela 1B, Riga is possible.

To smooth out the customer flow on the premises, each customer will be notified of the date when the order becomes available for pick-up from Latvijas Banka Cashier's Offices in the order confirmation. Orders will be available for pick-up in a period of 20 business days starting from the date indicated in the order confirmation. No change of the starting date for the pick-up period will be allowed. 

In the course of gradual preparations for the merger of Latvijas Banka and the Financial and Capital Market Commission, Latvijas Banka became the national coordinator for financial literacy issues in Latvia on 1 January 2022, also becoming the organiser and coordinator of the Financial Literacy Week for the first time this year. The activities within the framework of the Financial Literacy Week and the launching of the 2 euro commemorative coin are aimed at encouraging everyone to think about the value of carefully deliberated and forward-looking economic actions on both a personal as well as community level. 

The coin features a prosperity tree that can blossom for everyone if planted in the soil of financial literacy. 

"Why is financial literacy referred to? Because a rich person is not the one who has plenty of material possessions but the one who is proficient, who is able to plan how to fill up the barn using the little that he has, who is capable of using his own resources efficiently even when others have more.  Because making good use of one's mind helps to yield a large harvest" is written in the coin's description. 

Since ancestral times, a peasant's experience, his ability to look ahead and think for himself have underpinned the will and capability of our people to establish and shape the state of Latvia. Today we have to separate not only rye and wheat but also other "grain" from chaff. 

How to avoid confusion in this magnificent world full of temptations? Each choice leads to the next one. Choices like branches intertwine on the decision tree whose roots choose the right path skilfully. The ability to make decisions concerning the management of money and time, as well as the ability to cultivate one's mind is nothing new. A peasant has been doing so for centuries by always setting aside seed grain to weigh his harvest next autumn again. 

This coin shines in your hand when you move it. Along the same lines, one's mind also needs exercise to become more skilful and brighter. 

The total mintage of the "Financial Literacy" coins in circulation quality or in rolls is 400 000 pieces, whereas that of Brilliant Uncirculated quality coins in gift packing is 8000 pieces. The price per coin in gift packing is 8.80 euro. 

To provide access to those coins to a maximum number of interested parties, the limit per purchase has been set at 5 coins in gift packaging and 1 roll.

The author of the graphic design of the national side of the "Financial Literacy" coin is artist Reinis Pētersons. The author of the common side of the coin is artist Luc Luycx, and the material and size of the coin are the same as those of other 2 euro circulation coins. 

The national side of the coin features a stylised financial literacy and prosperity tree. The name of the country (LATVIJA) and the year of issue (2022) are also featured on the coin. The coin has been struck by UAB Lietuvos monetų kalykla (Lithuania). 

Each year, every euro area country is entitled to issue two 2 euro commemorative coins of special design as well as one more commemorative coin within a joint programme of several euro area countries provided that such a programme is organised. 

Latvijas Banka continues the tradition of minting circulation coins of special design in Latvia. Euro commemorative coins are legal tender in the Republic of Latvia and other euro area countries.