10 Euro (Michal Bosák) – Slovakia
Non-circulating coins
Commemoration: 150th anniversary of the birth of Michal Bosák
Slovakia
Context
Material
References
KM: #Click to copy to clipboard166
Numista: #188093
Value
Exchange value: 10 EUR = $11.81
Bullion value: $46.95
Inflation-adjusted value: 14.30 EUR
Obverse
Description:
The obverse features a Michal Bosák 10-dollar banknote, details from the Pittsburgh Agreement and Bosák's House in Prešov, the Slovak coat of arms, "SLOVENSKO" and "2019", the "10" and "euro" denomination, the Kremnica Mint mark, and designer Roman Lugár's initials "RL".
Inscription:
SLOVENSKO
10 EURO
2019
LR
10 EURO
2019
LR
Translation:
SLOVAKIA
10 EURO
2019
10 EURO
2019
Script: Latin
Engraver: Dalibor Schmidt
Reverse
Description:
The reverse features a portrait of Michal Bosák alongside the Bosák State Bank building in Scranton and its logo. Below are his name and dates, "MICHAL BOSÁK / 1869 – 1937".
Inscription:
MICHAL BOSÁK
1869 – 1937
1869 – 1937
Translation:
MICHAL BOSÁK
1869 – 1937
1869 – 1937
Script: Latin
Engraver: Dalibor Schmidt
Edge
Mints
| Name | Mark |
|---|---|
| Kremnica | — |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2019 | — | 3,000 | ||
| 2019 | — | 6,150 | 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