10 Euro (Chatam Sofer) – Slovakia
Non-circulating coins
Commemoration: 250th Anniversary of Birth of Chatam Sofer
Slovakia
Context
Material
References
KM: #Click to copy to clipboard123
Numista: #34913
Value
Exchange value: 10 EUR = $11.81
Bullion value: $46.00
Inflation-adjusted value: 15.46 EUR
Obverse
Description:
The obverse features a triangular depiction of historic Bratislava from Chatam Sofer's time. To the left is the 10 EURO denomination; to the right are the national emblem and 2012. "SLOVENSKO" is above, while the designer's initials and the Kremnica mintmark are below the townscape.
Inscription:
SLOVENSKO
10 EURO 2012
10 EURO 2012
Script: Latin
Engraver: Pavel Károly
Reverse
Description:
The reverse features Chatam Sofer's portrait in a triangular field with a Torah scroll and menorah. His name appears in Latin and Hebrew script, with his life dates (1762–1836) below.
Inscription:
CHATAM SOFER משה סופר
1762 1839
1762 1839
Translation:
Chatam Sofer Moses Sofer
1762 1839
1762 1839
Engraver: Pavel Károly
Edge
Lettering
Legend:
– RABÍN – UČENEC – SUDCA – UČITEĽ
Translation:
– RABBI – SCHOLAR – JUDGE – TEACHER –
Language: Slovak
Categories
| Event> Birth anniversary |
Mints
| Name | Mark |
|---|---|
| Kremnica | (MK) |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2012 | MK | 5,800 | ||
| 2012 | MK | 7,900 | Proof |
Historical background
In 2012, Slovakia was a consolidated member of the Eurozone, having adopted the euro as its official currency on January 1, 2009. This move replaced the Slovak koruna (SKK) and was seen as a significant milestone, solidifying the country's integration into the core of the European Union's economic and political structures. By 2012, the euro was well-established in daily use, and the initial transition period was long over, with prices fully denominated in the single currency. Slovakia's entry had been notably smooth, meeting the Maastricht convergence criteria and benefiting from strong economic growth in the preceding years.
However, the broader Eurozone context in 2012 was one of profound crisis, which shaped Slovakia's currency and economic situation. The sovereign debt crisis, particularly acute in Greece, Ireland, Portugal, and Spain, threatened the stability of the euro itself. For Slovakia, a key moment had occurred in late 2011 when its parliament voted to approve the expansion of the Eurozone bailout fund, the European Financial Stability Facility (EFSF). This was a politically contentious decision that contributed to the fall of the government of Iveta Radičová, highlighting domestic tensions between the obligations of Eurozone membership and national fiscal sovereignty.
Domestically, the euro provided Slovakia with a shield against currency volatility during the turbulent global period, but it also meant the country had relinquished independent monetary policy tools. The European Central Bank's (ECB) policies, such as the announcement of the Outright Monetary Transactions (OMT) program in mid-2012, were crucial for calming markets but were set for the entire currency bloc, not tailored to Slovakia's specific needs. Economically, Slovakia's export-oriented industry, particularly its large automotive sector, benefited from the certainty of a common currency with its main trading partners in Europe, though it also faced the challenge of maintaining competitiveness without the ability to devalue a national currency. Thus, in 2012, Slovakia's currency situation was one of stable domestic use but deep entanglement in the high-stakes struggle to preserve the Eurozone's future.
However, the broader Eurozone context in 2012 was one of profound crisis, which shaped Slovakia's currency and economic situation. The sovereign debt crisis, particularly acute in Greece, Ireland, Portugal, and Spain, threatened the stability of the euro itself. For Slovakia, a key moment had occurred in late 2011 when its parliament voted to approve the expansion of the Eurozone bailout fund, the European Financial Stability Facility (EFSF). This was a politically contentious decision that contributed to the fall of the government of Iveta Radičová, highlighting domestic tensions between the obligations of Eurozone membership and national fiscal sovereignty.
Domestically, the euro provided Slovakia with a shield against currency volatility during the turbulent global period, but it also meant the country had relinquished independent monetary policy tools. The European Central Bank's (ECB) policies, such as the announcement of the Outright Monetary Transactions (OMT) program in mid-2012, were crucial for calming markets but were set for the entire currency bloc, not tailored to Slovakia's specific needs. Economically, Slovakia's export-oriented industry, particularly its large automotive sector, benefited from the certainty of a common currency with its main trading partners in Europe, though it also faced the challenge of maintaining competitiveness without the ability to devalue a national currency. Thus, in 2012, Slovakia's currency situation was one of stable domestic use but deep entanglement in the high-stakes struggle to preserve the Eurozone's future.
💎 Very Rare