1000 Kuna (Palace of Diocletian and the Founding of Split) – Croatia
Non-circulating coins
Commemoration: 1700th Anniversary of the Palace of Diocletian and the Founding of the City of Split
Croatia
Context
Material
References
KM: #Click to copy to clipboard53
Numista: #100500
Value
Exchange value: 1000 HRK
Bullion value: $1156.96
Obverse
Description:
Sketch of Diocletian's Palace based on Ernest Hebrard's reconstruction. Above is the denomination '1000 KUNA', with 'REPUBLIKA HRVATSKA' arched above it, the national coat of arms between the words.
Inscription:
REPUBLIKA HRVATSKA
1000 KUNA
1000 KUNA
Translation:
REPUBLIC OF CROATIA
1000 KUNA
1000 KUNA
Script: Latin
Language: Croatian
Designer: Kažimir Hraste
Reverse
Description:
The sarcophagus chest (now in Split's Archaeological Museum) features the Good Shepherd on its central aedicule, flanked by figures of the deceased spouses. Found in the mid-19th century at Solin Manastirine, it dates to the 310s AD. The edge bears the circular inscription "SPALATUM" and "295. – 1995.," referencing the ancient settlement at Diocletian's Palace, and the designer Kažimir Hraste's "KH" signature.
Inscription:
295.-1995.
SPALATUM
SPALATUM
Script: Latin
Designer: Kažimir Hraste
Edge
Plain
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 1995 | — | 1,950 | Proof |
Historical background
In 1995, Croatia was in a complex monetary transition, operating under a dual-currency system while laying the groundwork for its future financial sovereignty. The official currency was the Croatian dinar (HRD), introduced in 1991 following independence from Yugoslavia to replace the Yugoslav dinar. However, due to hyperinflation experienced in the early 1990s and a lack of public confidence, the dinar was largely sidelined in everyday use. Instead, the Deutsche Mark (DEM) functioned as the de facto parallel currency for savings, major transactions, and as a psychological anchor of stability, reflecting the population's desire for a hard, trustworthy currency.
This period was one of active stabilization and preparation. The Croatian National Bank, under Governor Pero Jurković, had successfully tamed the hyperinflation of the early post-independence years through stringent monetary policy. The focus in 1995 was on maintaining that stability and building foreign currency reserves, a task complicated by the ongoing Homeland War, which would conclude with the Erdut Agreement in November. The government, led by the Croatian Democratic Union (HDZ), was simultaneously implementing broader economic reforms, often in consultation with the International Monetary Fund, to create conditions for a stronger, unified national currency.
Consequently, 1995 served as the final preparatory year before a pivotal monetary reform. The widespread use of the Deutsche Mark, combined with achieved macroeconomic stability, set the stage for the introduction of a new, strong national currency. This plan came to fruition just a few months later, in May 1996, when the kuna (HRK) replaced the Croatian dinar at a rate of 1 kuna = 1,000 dinars, and was firmly pegged to the Deutsche Mark. Thus, the situation in 1995 was characterized by a managed but unofficial deutschemarkization, providing a bridge to the kuna-based monetary system that would define Croatia's economy for decades.
This period was one of active stabilization and preparation. The Croatian National Bank, under Governor Pero Jurković, had successfully tamed the hyperinflation of the early post-independence years through stringent monetary policy. The focus in 1995 was on maintaining that stability and building foreign currency reserves, a task complicated by the ongoing Homeland War, which would conclude with the Erdut Agreement in November. The government, led by the Croatian Democratic Union (HDZ), was simultaneously implementing broader economic reforms, often in consultation with the International Monetary Fund, to create conditions for a stronger, unified national currency.
Consequently, 1995 served as the final preparatory year before a pivotal monetary reform. The widespread use of the Deutsche Mark, combined with achieved macroeconomic stability, set the stage for the introduction of a new, strong national currency. This plan came to fruition just a few months later, in May 1996, when the kuna (HRK) replaced the Croatian dinar at a rate of 1 kuna = 1,000 dinars, and was firmly pegged to the Deutsche Mark. Thus, the situation in 1995 was characterized by a managed but unofficial deutschemarkization, providing a bridge to the kuna-based monetary system that would define Croatia's economy for decades.
✨ Legendary