10 Lei (Romanian academic higher education in Cluj) – Romania
Non-circulating coins
Commemoration: 100 years of Romanian academic higher education in Cluj
Romania
Context
Year: 2019
Issuer: Romania 
Issuing organization: National Bank of Romania
Period:
(since 1989)
Currency:
(since 2005)
Total mintage: 300
Material
Diameter: 37 mm
Weight: 31.1 g
Silver weight: 31.07 g
Shape: Round
Composition: 99.9% Silver
Standard: Silver ounce
Magnetic: No
Technique: Milled
Alignment: Coin alignment
flip
References
KM: #Click to copy to clipboard460
Numista: #180855
Value
Exchange value: 10 RON = $2.32
Bullion value: $93.53
Inflation-adjusted value: 14.78 RON
Obverse
Reverse
Description:
The Aula Magna of Babeș-Bolyai University, an open book inscribed with “TRADITIO NOSTRA UNACUM EUROPAE VIRTUTIBUS SPLENDET”, surrounded by “100 DE ANI DE UNIVERSITATE ROMANEASCA LA CLUJ” and the years “1919-2019”.
Inscription:
100 DE ANI DE UNIVERSITATE ROMANEASCA LA CLUJ
TRADITIO NOSTRA UNACUM EUROPAE VIRTUTIBUS SPLENDET
1919-2019
TRADITIO NOSTRA UNACUM EUROPAE VIRTUTIBUS SPLENDET
1919-2019
Translation:
ONE HUNDRED YEARS OF THE ROMANIAN UNIVERSITY IN CLUJ
OUR TRADITION SHINES TOGETHER WITH THE VIRTUES OF EUROPE
1919-2019
OUR TRADITION SHINES TOGETHER WITH THE VIRTUES OF EUROPE
1919-2019
Script: Latin
Edge
Reeded
Categories
| Education |
Mints
| Name | Mark |
|---|---|
| State Mint | — |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2019 | — | 300 | Proof |
Historical background
In 2019, Romania's currency situation was characterized by a period of relative stability for the Romanian Leu (RON) against the Euro, but within a context of persistent macroeconomic imbalances. The RON traded in a narrow band, around 4.7 to 4.8 RON per EUR for much of the year, supported by robust economic growth and attractive interest rates that drew foreign investment into government bonds. However, this stability was somewhat artificial, heavily managed by the National Bank of Romania (NBR), which intervened in the foreign exchange market to smooth volatility and prevent excessive depreciation.
Beneath this calm surface, significant pressures were building. The country was grappling with twin deficits—a substantial current account deficit, exceeding 4% of GDP, and a widening budget deficit, driven by increased public spending and tax cuts. This made the economy reliant on short-term capital inflows, leaving the currency vulnerable to shifts in global investor sentiment. Furthermore, political instability and concerns over fiscal discipline, including controversial emergency ordinances affecting the banking sector, periodically eroded investor confidence and put downward pressure on the Leu.
Consequently, the key theme of 2019 was the central bank's challenging balancing act. The NBR cautiously raised its benchmark interest rate to 2.50% by year-end to combat above-target inflation and support the currency, but it had to do so without stifling economic growth. The overall situation highlighted Romania's underlying vulnerabilities: strong consumption-driven GDP growth was being sustained at the cost of growing external and internal imbalances, with the stable RON masking the need for structural reforms to ensure long-term stability.
Beneath this calm surface, significant pressures were building. The country was grappling with twin deficits—a substantial current account deficit, exceeding 4% of GDP, and a widening budget deficit, driven by increased public spending and tax cuts. This made the economy reliant on short-term capital inflows, leaving the currency vulnerable to shifts in global investor sentiment. Furthermore, political instability and concerns over fiscal discipline, including controversial emergency ordinances affecting the banking sector, periodically eroded investor confidence and put downward pressure on the Leu.
Consequently, the key theme of 2019 was the central bank's challenging balancing act. The NBR cautiously raised its benchmark interest rate to 2.50% by year-end to combat above-target inflation and support the currency, but it had to do so without stifling economic growth. The overall situation highlighted Romania's underlying vulnerabilities: strong consumption-driven GDP growth was being sustained at the cost of growing external and internal imbalances, with the stable RON masking the need for structural reforms to ensure long-term stability.
✨ Legendary