25 Kuna (University of Zagreb) – Croatia
Circulating commemorative coins
Commemoration: 350th Anniversary of the Founding of the University of Zagreb
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 clipboard116
Numista: #184823
Value
Exchange value: 25 HRK
Obverse
Description:
The stylised numeral "25" forms the outline of a right-facing marten. Above this, on the coin's ring, is the coat of arms of Croatia, flanked by the semi-circular inscription "REPUBLIKA HRVATSKA". Below the numeral, "KUNA" is inscribed along the ring's edge, with an oak branch to its left and a laurel branch to its right.
Inscription:
REPUBLIKA HRVATSKA
25
KUNA
25
KUNA
Translation:
REPUBLIC OF CROATIA
25
KUNA
25
KUNA
Script: Latin
Language: Croatian
Engraver: Damir Mataušić
Reverse
Description:
The core features a partial logo of the University of Zagreb, depicting the central risalit of its building with Meštrović's "History of Croats" sculpture. The dates "1669 – 2019" appear along the core's edge. The ring bears the circular inscription "350. OBLJETNICA OSNIVANJA SVEUČILIŠTA U ZAGREBU" and the coat of arms of the City of Zagreb.
Inscription:
350. OBLJETNICA OSNIVANJA SVEUČILIŠTA U ZAGREBU
1669. - 2019.
1669. - 2019.
Translation:
350th Anniversary of the Founding of the University of Zagreb
1669. - 2019.
1669. - 2019.
Script: Latin
Language: Croatian
Engraver: Damir Mataušić
Edge
Plain
Categories
| Education |
Mints
| Name | Mark |
|---|---|
| Croatian Mint | — |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2019 | — | 20,000 |
Historical background
In 2019, Croatia was in the final stages of its long-standing path toward adopting the euro, operating under a managed floating exchange rate regime with the kuna (HRK) as its national currency. The kuna's exchange rate was not pegged to a single currency but was closely influenced by the euro, with the Croatian National Bank (HNB) actively intervening in the foreign exchange market to maintain stability and prevent excessive volatility. This policy, in place for decades, had successfully ensured low inflation and exchange rate predictability, which were seen as crucial for an economy where euro-denominated savings and loans were widespread, and tourism, a key sector, generated significant euro inflows.
The year was dominated by strategic preparations for Eurozone accession, a core strategic goal for the government. Croatia had already entered the European Exchange Rate Mechanism II (ERM II) in July 2020, but the technical and legislative groundwork was intensely underway throughout 2019. The HNB and government focused on meeting the convergence criteria, including price stability and sustainable public finances, while also launching public information campaigns to educate citizens and businesses about the practical changeover. The stable kuna-euro exchange rate, which had hovered around 7.4 HRK for EUR 1 for years, was a critical factor, as it minimized the conversion risk for the future switch.
Economists and institutions broadly agreed that euro adoption would eliminate exchange rate costs and risks for trade and investment, given that over half of Croatia's trade and a majority of its foreign debt were already euro-denominated. However, some public concern persisted regarding potential negative effects, such as a perceived risk of one-off price increases during the changeover and the loss of independent monetary policy. Nevertheless, by the end of 2019, the political and institutional momentum was firmly set, positioning Croatia to formally receive the green light for euro adoption in mid-2022, with the currency changeover successfully taking place on January 1, 2023.
The year was dominated by strategic preparations for Eurozone accession, a core strategic goal for the government. Croatia had already entered the European Exchange Rate Mechanism II (ERM II) in July 2020, but the technical and legislative groundwork was intensely underway throughout 2019. The HNB and government focused on meeting the convergence criteria, including price stability and sustainable public finances, while also launching public information campaigns to educate citizens and businesses about the practical changeover. The stable kuna-euro exchange rate, which had hovered around 7.4 HRK for EUR 1 for years, was a critical factor, as it minimized the conversion risk for the future switch.
Economists and institutions broadly agreed that euro adoption would eliminate exchange rate costs and risks for trade and investment, given that over half of Croatia's trade and a majority of its foreign debt were already euro-denominated. However, some public concern persisted regarding potential negative effects, such as a perceived risk of one-off price increases during the changeover and the loss of independent monetary policy. Nevertheless, by the end of 2019, the political and institutional momentum was firmly set, positioning Croatia to formally receive the green light for euro adoption in mid-2022, with the currency changeover successfully taking place on January 1, 2023.
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