Latvijas Banka is issuing a coin dedicated to the centenary of Satversme

On Wednesday, 16 February, Latvijas Banka will release a new silver collector coin "Satversme 100". This coin is a tribute to the Constitution of Latvia, which was adopted in 1922 and defines the form of government, values and relations between the individual and the state.

The year of Satversme's centenary is also the year when Latvijas Banka celebrates the 100th anniversary of its foundation. Among other things, Satversme created the foundations for a successful operation of the central bank, defining the guarantees for its independence, competence and long-term perspective on money policy issues. Satversme is one of the oldest living constitutions in Europe and it ensures democracy and rule of law in Latvia.

This coin, created with the participation of the Constitutional Court and the Chancery of the President of Latvia, is a symbolic present to Latvia by the central bank.

The coin will be available for purchase only on the website e-monetas.lv from 12.00 (noon) on 16 February. Due to the Covid-19 pandemic, the new numismatic products will not be available at the Cashier's Office of Latvijas Banka. For the time being, it will be possible to receive the coins purchased on the website e-monetas.lv by post only.

Satversme, the Constitution of the Republic of Latvia, lays down the constitutional foundations of the State of Latvia and embodies one of the symbols of our statehood. The thoughts and aspirations of the founders of the state have become the words of power that allow each generation to build a strong and sustainable democratic state governed by the rule of law. The wording of Satversme is uniting the founders of the state and its future generations in a single idea of the Republic of Latvia.

"We hope and remain confident that this new Satversme will help us to fully establish lawfulness and justice in Latvia and thus prosperity and order for its people. Let this new Satversme make Latvia happy and strong!" These words were spoken by Jānis Čakste, the first President of the Republic of Latvia, in 1922 when Satversme came into force.

SATVERSME 100

Face value: 5 euro

Weight: 26.24 g

Size: 45.0 × 30.0 mm

Metal: silver of .925 fineness

Quality: proof; colour print on the obverse and reverse; frosted letters and lines on the obverse and reverse.

Graphic design: Aigars Ozoliņš

The coin has been struck by Lietuvos monetų kalykla (Lithuania)

Satversme, the Constitution of the Republic of Latvia, lays down the constitutional foundations of the State of Latvia and embodies one of the symbols of our statehood. The thoughts and aspirations of the founders of the state have become the words of power that allow each generation to build a strong and sustainable democratic state governed by the rule of law. The wording of Satversme is uniting the founders of the state and its future generations in a single idea of the Republic of Latvia.

Satversme will never become outdated. The wording of Satversme remains unchanged, but its reading evolves with time. Each generation contributes to the spirit of Satversme, providing strength to the state of Latvia and support to everyone who needs protection under the law.

"We hope and remain confident that this new Satversme will help us to fully establish lawfulness and justice in Latvia and thus prosperity and order for its people. Let this new Satversme make Latvia happy and strong!" These words were spoken by Jānis Čakste, the first President of the Republic of Latvia, in 1922 when Satversme came into force.

Even after a century, we should read Satversme keeping in mind those words by Jānis Čakste. It should be done in the hope that Latvia will always be governed by fair laws and everyone will enjoy the freedom to realise his or her potential. It should be done with confidence that everyone will always be equal in his or her rights and respect, and that the State of Latvia will live forever.

Satversme makes it possible for us to celebrate freedom, independence, democracy and the rule of law in Latvia – the country where everyone is free to strive for prosperity and happiness.

Let us celebrate the centenary of Satversme!

Activity of Latvijas Banka regarding the issuance of collector coins and 2 euro commemorative coins

Since 1993, Latvijas Banka has issued 98 lats collector coins and 43 euro collector coins, with over 50 Latvian artists having participated in designing them.

Latvian coins have received high international recognition and a number of prestigious awards; moreover, the "Coin of Latvia" won the international 2010 Coin of the Year Award at the contest organised by US Krause Publications and its magazine World Coin News. In 2015, the silver collector coin "The Baltic Way" was recognised as the Best Contemporary Event Coin at this contest, whereas in 2018, the collector coin "National Entrepreneur" was named the Most Artistic Coin of the Year. At the competition Coin of the Year Awards (COTY) in 2020, the "Honey Coin", Latvijas Banka's collector coin, was announced the world's Most Artistic Coin and the Coin of the Year.

The Coin Design Commission of Latvijas Banka (the former Commission for the Thematic Concept of the Banknotes and Coins), which has been active since 12 November 1993, plays an important role in the coin issuing process. The Commission consists of the employees of Latvijas Banka, outstanding Latvian experts of art and culture as well as artists and scientists.

After the euro changeover, Latvijas Banka carries on the tradition of issuing collector coin series with motifs characteristic of Latvia and executed in high artistic quality. These coins are legal tender only in the issuing country. They are unlikely to come into general circulation, for, by nature, they are works of art enjoying high demand from the numismatic community and other interested parties.

The face value of collector coins must differ from that of coins in general circulation (it must be, e.g. 5 euro or 10 euro). Their specifications, including colour, diameter, weight, material, etc. have to be cardinally distinctive from those of the coins in general circulation.

For information on the collector coins on sale at e-monetas.lv and the Cashier's Office of Latvijas Banka, see https://www.e-monetas.lv and https://monetas.bank.lv/iegade.

The issuance of 2 euro commemorative coins (2 euro circulation coins of special design) is another area of coin art. Each year, every euro area country is entitled to issue two 2 euro commemorative coins (similar to 1 lats special circulation coins previously issued in Latvia), featuring events of national, European or global significance. The euro area countries can additionally produce a third 2 euro commemorative coin, provided that it is issued jointly and that it commemorates events of European Union-wide importance.

Commemorative coins bear the same features and the same common or European side as the normal 2 euro circulation coins, while their national sides differ and feature a national commemorating motif.

Euro commemorative coins are legal tender throughout the euro area. This means they can be used – and must be accepted – just like any other euro coin.