10 Euro (Milan Rastislav Štefánik) – Slovakia
Non-circulating coins
Commemoration: 100th Anniversary of the Death of Milan Rastislav Štefánik
Slovakia
Context
Material
References
KM: #Click to copy to clipboard164
Numista: #168240
Value
Exchange value: 10 EUR = $11.81
Bullion value: $46.99
Inflation-adjusted value: 14.30 EUR
Obverse
Description:
The obverse features the Czechoslovak Republic's lesser coat of arms—a Czech crowned lion with the Slovak shield on its chest—superimposed on a map of Czechoslovakia. To the right are the Slovak coat of arms, the denomination "10 EURO," and the country name "SLOVENSKO" with the year "2019." Štefánik's motto "VERIT • MILOVAT • PRACOVAT" appears below, above the Kremnica Mint mark "MK" and the designer's initials "MP."
Inscription:
SLOVENSKO
10 EURO
2019
VERIŤ-MILOVAŤ-PRACOVAŤ
10 EURO
2019
VERIŤ-MILOVAŤ-PRACOVAŤ
Translation:
SLOVAKIA
10 EURO
2019
BELIEVE-LOVE-WORK
10 EURO
2019
BELIEVE-LOVE-WORK
Script: Latin
Language: Slovak
Engraver: Dalibor Schmidt
Reverse
Description:
The reverse features a portrait of Štefánik alongside the Caproni Ca.33 biplane from his fatal 1919 flight. His birth and death years "1880·1919" appear above, with "MILAN RASTISLAV" in a semicircle at left and his surname "ŠTEFÁNIK" below the portrait. The designer's initials "IR" (Ivan Rehák) are near the right edge.
Inscription:
1880-1919 MILAN RASTISLAV ŠTEFÁNIK
Translation:
Milan Rastislav Štefánik
Script: Latin
Language: Slovak
Engraver: Dalibor Schmidt
Edge
Categories
| Transportation> Aircraft |
| Event> Death anniversary |
| Map |
| Symbols> Coat of Arms |
Mints
| Name | Mark |
|---|---|
| Kremnica | — |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2019 | — | 3,650 | ||
| 2019 | — | 10,000 | Proof |
Historical background
In 2019, Slovakia was a stable member of the Eurozone, having adopted the euro as its official currency a decade earlier in 2009. The country's monetary policy was therefore set by the European Central Bank (ECB), with the primary goals of maintaining price stability and controlling inflation within the broader Euro area. This framework provided Slovakia with significant benefits, including eliminated exchange rate risk with its key European trading partners, lower transaction costs, and enhanced economic integration. The Slovak economy was performing robustly in 2019, with strong GDP growth, low unemployment, and rising wages, all underpinned by its role as a major automotive manufacturing hub.
Despite the overall stability, the euro's monetary policy was not tailored to Slovakia's specific cyclical position. In 2019, the ECB maintained an accommodative stance with historically low interest rates and continued asset purchase programs to stimulate the sluggish economies of core Eurozone nations. For a fast-growing economy like Slovakia's, this contributed to rising inflationary pressures, particularly in the housing market and services sector. Slovak inflation consistently exceeded the Eurozone average, prompting domestic discussions about the appropriateness of a "one-size-fits-all" monetary policy for economies at different stages of the business cycle.
Furthermore, 2019 saw the Slovak koruna cease to be legal tender in January, marking the final end of the dual-circulation period. Politically, the euro enjoyed broad public support as a symbol of Slovakia's European identity and economic maturity. There were no serious political movements advocating for a return to a national currency, as the perceived advantages of Eurozone membership—especially for a small, open, export-oriented economy—were widely acknowledged. Thus, the currency situation was characterized by successful integration, albeit with ongoing macroeconomic debates about the trade-offs inherent in a shared currency.
Despite the overall stability, the euro's monetary policy was not tailored to Slovakia's specific cyclical position. In 2019, the ECB maintained an accommodative stance with historically low interest rates and continued asset purchase programs to stimulate the sluggish economies of core Eurozone nations. For a fast-growing economy like Slovakia's, this contributed to rising inflationary pressures, particularly in the housing market and services sector. Slovak inflation consistently exceeded the Eurozone average, prompting domestic discussions about the appropriateness of a "one-size-fits-all" monetary policy for economies at different stages of the business cycle.
Furthermore, 2019 saw the Slovak koruna cease to be legal tender in January, marking the final end of the dual-circulation period. Politically, the euro enjoyed broad public support as a symbol of Slovakia's European identity and economic maturity. There were no serious political movements advocating for a return to a national currency, as the perceived advantages of Eurozone membership—especially for a small, open, export-oriented economy—were widely acknowledged. Thus, the currency situation was characterized by successful integration, albeit with ongoing macroeconomic debates about the trade-offs inherent in a shared currency.
💎 Very Rare