20 Euro (Latvia's brooches) – Latvia
Non-circulating coins
Commemoration: Collector coin dedicated to Latvia's brooches and the country's centenary.
Series: Gold Brooches
Latvia
Context
Year: 2017
Issuer: Latvia 
Issuing organization: Bank of Latvia
Period:
(since 1991)
Currency:
(since 2014)
Total mintage: 4,000
Material
References
KM: #Click to copy to clipboard194
Numista: #122190
Value
Exchange value: 20 EUR = $23.63
Bullion value: $996.55
Inflation-adjusted value: 29.23 EUR
Obverse
Description:
The central field contains "#Latvija", "#pakavsakta", "#8_12gs", "20 euro", and "#2017".
Inscription:
#Latvija
#pakavsakta
#8_12gs
20 euro
#2017
#pakavsakta
#8_12gs
20 euro
#2017
Translation:
Latvia
The Centenary
8_12gs
20 euro
2017
The Centenary
8_12gs
20 euro
2017
Script: Latin
Language: Latvian
Engraver: Solvita Rulle
Designer: Ingūna Elere
Reverse
Description:
A stylized 12th-century horseshoe fibula with star-shaped ends.
Engraver: Solvita Rulle
Designer: Ingūna Elere
Edge
Plain.
Mints
| Name | Mark |
|---|---|
| Münze Österreich | — |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2017 | — | 4,000 | Proof |
Historical background
In 2017, Latvia was in its fourth year as a member of the Eurozone, having adopted the euro on January 1, 2014. This transition from the national currency, the lats, was largely viewed as successful and had solidified the country's economic and political integration with core European institutions. By 2017, the euro was firmly established in daily use, with public support for the currency remaining relatively stable and the initial period of price-level adjustments largely complete. The macroeconomic environment was one of steady, moderate growth, with low inflation and a stable financial sector.
The primary currency-related discussions in Latvia during 2017 were not about the euro itself, but about broader financial governance and security within the monetary union. As a member of the Eurozone, Latvia's monetary policy was set by the European Central Bank (ECB), which continued its expansive quantitative easing program to stimulate the euro area economy. Domestically, attention focused on maintaining fiscal discipline to meet Eurozone stability criteria and on addressing longstanding issues within the banking sector. This was particularly salient following the 2016 liquidation of ABLV Bank, which underscored concerns about financial supervision and the sector's exposure to non-resident deposits, primarily from the former Soviet Union.
Furthermore, 2017 was a year of looking forward within the Eurozone framework. There was active Latvian participation in discussions on deepening the Economic and Monetary Union (EMU), including proposals for a European banking union and further fiscal integration. Domestically, the government's focus was on leveraging the stability of the single currency to attract investment and converge with average EU income levels, while ensuring that the national economy remained competitive within the euro area. Thus, the currency situation was characterized by operational normality, with policy debates centered on enhancing the architecture and security of the Eurozone system to which Latvia was now irrevocably tied.
The primary currency-related discussions in Latvia during 2017 were not about the euro itself, but about broader financial governance and security within the monetary union. As a member of the Eurozone, Latvia's monetary policy was set by the European Central Bank (ECB), which continued its expansive quantitative easing program to stimulate the euro area economy. Domestically, attention focused on maintaining fiscal discipline to meet Eurozone stability criteria and on addressing longstanding issues within the banking sector. This was particularly salient following the 2016 liquidation of ABLV Bank, which underscored concerns about financial supervision and the sector's exposure to non-resident deposits, primarily from the former Soviet Union.
Furthermore, 2017 was a year of looking forward within the Eurozone framework. There was active Latvian participation in discussions on deepening the Economic and Monetary Union (EMU), including proposals for a European banking union and further fiscal integration. Domestically, the government's focus was on leveraging the stability of the single currency to attract investment and converge with average EU income levels, while ensuring that the national economy remained competitive within the euro area. Thus, the currency situation was characterized by operational normality, with policy debates centered on enhancing the architecture and security of the Eurozone system to which Latvia was now irrevocably tied.
✨ Legendary