10 Euro (Štefan Banič) – Slovakia
Non-circulating coins
Commemoration: 150th anniversary of the birth of Štefan Banič
Slovakia
Context
Material
References
KM: #Click to copy to clipboard174
Numista: #240326
Value
Exchange value: 10 EUR = $11.81
Bullion value: $46.37
Inflation-adjusted value: 13.93 EUR
Obverse
Description:
The obverse features Banič's parachute from its patent document, with the Slovak coat of arms to the left. Below are the year "2020," the country name "SLOVENSKO," the Kremnica Mint mark "MK," and the designer's initials "PV" for Peter Valach.
Inscription:
SLOVENSKO 2020
Translation:
Slovakia 2020
Script: Latin
Language: Slovak
Engraver: Dalibor Schmidt
Designer: Peter Valach
Reverse
Description:
The reverse features a portrait of Štefan Banič, with the denomination "10 EURO" to its right. His name appears along the right edge, and his birth and death years "1870·1941" along the left.
Inscription:
10 EURO
ŠTEFAN BANIČ
1870 · 1941
ŠTEFAN BANIČ
1870 · 1941
Translation:
10 EURO
ŠTEFAN BANIČ
1870 · 1941
ŠTEFAN BANIČ
1870 · 1941
Script: Latin
Engraver: Dalibor Schmidt
Designer: Peter Valach
Edge
Smooth with inscriptions
Legend:
• • • ŠTEFAN BANIČ – VYNÁLEZCA PADÁKA
Translation:
• • • ŠTEFAN BANIČ – INVENTOR OF THE PARACHUTE
Language: Slovak
Categories
| Event> Birth anniversary |
| Symbols> Coat of Arms |
| Science> Technology |
Mints
| Name | Mark |
|---|---|
| Kremnica | (MK) |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2020 | MK | 2,750 | BU | |
| 2020 | MK | 6,450 | Proof |
Historical background
In 2020, Slovakia was a well-established member of the Eurozone, having adopted the euro as its official currency on January 1, 2009. Therefore, the country did not have an independent national currency policy; its monetary policy was set by the European Central Bank (ECB) in Frankfurt. The primary currency-related discussions within Slovakia that year were not about exchange rates or devaluation, but focused on broader Eurozone fiscal and monetary responses to the economic crisis triggered by the COVID-19 pandemic. Slovak authorities, like their Eurozone partners, were concerned with ensuring sufficient liquidity and supportive measures from the ECB.
The economic shock of the pandemic dominated the financial landscape. Slovakia's GDP contracted significantly, leading to increased public spending to support businesses and households. A key currency-adjacent issue was Slovakia's participation in the EU's recovery fund (NextGenerationEU) and the debate over common European debt issuance, which some Slovak political figures viewed cautiously. Domestically, there were no serious political movements to leave the euro, as the currency was generally seen as providing stability during the global turmoil, shielding the small, open economy from the speculative pressures it might have faced with its former currency, the koruna.
However, the year was not without currency-related events. In 2020, Slovakia began issuing a new series of euro banknotes (the "Europa series") into circulation, a process of modernizing security features that was ongoing across the Eurozone. Furthermore, as a member of the ECB Governing Council, the Governor of the National Bank of Slovakia, Peter Kažimír, was involved in critical decisions, including the launch of the €1.35 trillion Pandemic Emergency Purchase Programme (PEPP) to stabilize the euro area economy. Thus, Slovakia's currency situation in 2020 was characterized by its integrated role in the collective Eurozone effort to mitigate a severe economic downturn.
The economic shock of the pandemic dominated the financial landscape. Slovakia's GDP contracted significantly, leading to increased public spending to support businesses and households. A key currency-adjacent issue was Slovakia's participation in the EU's recovery fund (NextGenerationEU) and the debate over common European debt issuance, which some Slovak political figures viewed cautiously. Domestically, there were no serious political movements to leave the euro, as the currency was generally seen as providing stability during the global turmoil, shielding the small, open economy from the speculative pressures it might have faced with its former currency, the koruna.
However, the year was not without currency-related events. In 2020, Slovakia began issuing a new series of euro banknotes (the "Europa series") into circulation, a process of modernizing security features that was ongoing across the Eurozone. Furthermore, as a member of the ECB Governing Council, the Governor of the National Bank of Slovakia, Peter Kažimír, was involved in critical decisions, including the launch of the €1.35 trillion Pandemic Emergency Purchase Programme (PEPP) to stabilize the euro area economy. Thus, Slovakia's currency situation in 2020 was characterized by its integrated role in the collective Eurozone effort to mitigate a severe economic downturn.
💎 Very Rare