25 Kuna – Croatia
Circulating commemorative coins
Commemoration: Candidate for the European Union
Croatia
Context
Material
Diameter: 32 mm
Weight: 12.75 g
Thickness: 2.2 mm
Shape: Dodecagonal
Technique: Milled
Alignment: Medal alignment
flip
References
KM: #Click to copy to clipboard78
Numista: #11968
Value
Exchange value: 25 HRK
Obverse
Description:
The brass center features the number "25" with a marten running right within its contours, and the word "KUNA" below. The outer ring displays the Croatian coat of arms flanked by laurel and oak branches, with "REPUBLIKA HRVATSKA" above.
Inscription:
REPUBLIKA HRVATSKA
25
KUNA
25
KUNA
Translation:
REPUBLIC OF CROATIA
25
KUNA
25
KUNA
Script: Latin
Language: Croatian
Engraver: Damir Mataušić
Reverse
Description:
A brass ring features two connected squares, symbolizing Croatia, encircled by 12 stars for the European Union. The stars are interlaced with three lines representing Croatian braiding. Below, the date "18.VI.2004." is flanked by a square (Croatia) and a star (EU). The inscription "REPUBLIKA HRVATSKA KANDIDAT ZA CLANSTVO U EUROPSKOJ UNIJI" curves from the date, and the engraver's signature (DM) appears above the square.
Inscription:
REPUBLIKA HRVATSKA KANDIDAT ZA ČLANSTVO UEUROPSKOJ UNIJI
18.VI.2004
DM
18.VI.2004
DM
Translation:
REPUBLIC OF CROATIA CANDIDATE FOR MEMBERSHIP IN THE EUROPEAN UNION
18 JUNE 2004
18 JUNE 2004
Script: Latin
Engraver: Damir Mataušić
Edge
Plain
Mints
| Name | Mark |
|---|---|
| Croatian Mint | — |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2004 | — | 30,000 | ||
| 2004 | — | 3,000 | Proof |
Historical background
In 2004, Croatia's currency situation was defined by a managed floating exchange rate regime, with the Croatian kuna (HRK) as the national currency. The primary objective of the Croatian National Bank (CNB) was to maintain price and exchange rate stability, a challenging task given the country's high euroization, where a significant portion of savings and loans were denominated in foreign currencies, primarily the euro. This reliance created vulnerability to exchange rate fluctuations, making stability a key pillar of monetary policy.
The kuna was not pegged to the euro but was closely managed against it, with the CNB frequently intervening in the foreign exchange market to smooth out excessive volatility. This period followed a successful stabilization program from the 1990s, and by 2004, the kuna was relatively stable, fostering an environment conducive to economic growth and increasing foreign investment. However, the economy faced persistent challenges, including a large current account deficit and rising public debt, which placed underlying pressure on the currency framework.
This monetary policy approach was strategically aligned with Croatia's broader European integration goals. In 2004, the country was actively pursuing European Union membership, making the stability of the kuna and the reduction of inflation essential for meeting the Maastricht criteria in the future. Therefore, the currency management of 2004 was not only about immediate economic stability but also a deliberate step toward preparing for eventual Eurozone accession, a process that would culminate nearly two decades later with the adoption of the euro in 2023.
The kuna was not pegged to the euro but was closely managed against it, with the CNB frequently intervening in the foreign exchange market to smooth out excessive volatility. This period followed a successful stabilization program from the 1990s, and by 2004, the kuna was relatively stable, fostering an environment conducive to economic growth and increasing foreign investment. However, the economy faced persistent challenges, including a large current account deficit and rising public debt, which placed underlying pressure on the currency framework.
This monetary policy approach was strategically aligned with Croatia's broader European integration goals. In 2004, the country was actively pursuing European Union membership, making the stability of the kuna and the reduction of inflation essential for meeting the Maastricht criteria in the future. Therefore, the currency management of 2004 was not only about immediate economic stability but also a deliberate step toward preparing for eventual Eurozone accession, a process that would culminate nearly two decades later with the adoption of the euro in 2023.
🌱 Common