10 Euro (Vilnius founding) – Lithuania
Non-circulating coins
Commemoration: The 700th anniversary of the founding of Vilnius
Lithuania
Context
Material
Diameter: 36.3 mm
Weight: 23.3 g
Silver weight: 21.55 g
Shape: Heptagonal
Composition: 92.5% Silver
Magnetic: No
Technique: Milled
Alignment: Medal alignment
flip
References
KM: #Click to copy to clipboard284
Numista: #360140
Value
Exchange value: 10 EUR = $11.81
Bullion value: $60.42
Inflation-adjusted value: 11.07 EUR
Obverse
Description:
The obverse depicts a bird's-eye view of Vilnius, with Gediminas' Tower at its center surrounded by a kaleidoscopic array of buildings and the city's founding year, 1323. It includes the inscription LIETUVA, the €10 denomination, the 2023 issue year, and the Lithuanian Mint mark.
Inscription:
LMK
1323
LIETUVA 10€
2023
1323
LIETUVA 10€
2023
Translation:
Lithuania 10€
2023
2023
Script: Latin
Designer: Vytautas Narutis
Reverse
Description:
The reverse depicts the legend of Vilnius's founding: Grand Duke Gediminas dreamed of an iron wolf howling by the Neris River, which a sage interpreted as a prophecy for a world-renowned city. The design includes "VILNIUS", "700", and the author's initials.
Inscription:
VILNIUS
700
700
Script: Latin
Designer: Vytautas Narutis
Edge
Plain
Mints
| Name | Mark |
|---|---|
| Lithuanian Mint | (LMK) |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2023 | LMK | 3,000 | Proof |
Historical background
In 2023, Lithuania's currency situation was firmly anchored within the Eurozone, having adopted the euro on January 1, 2015. As a result, the country no longer had an independent monetary policy or a national currency (the former litas), with the European Central Bank (ECB) setting interest rates and overseeing price stability for the entire bloc. Lithuania's economic performance and currency stability were therefore directly tied to the euro's strength and the ECB's policy decisions, particularly its efforts to combat high inflation through a series of interest rate hikes throughout 2022 and 2023.
The primary domestic focus regarding currency was not on exchange rates but on inflation, which remained a significant economic challenge. While inflation in Lithuania peaked in 2022 and began to moderate in 2023, it consistently remained among the highest in the Eurozone. This was driven by persistent factors like elevated energy prices, strong wage growth, and robust domestic demand. Consequently, the real effective exchange rate—a measure of price competitiveness—was a point of attention, as high inflation risked making Lithuanian goods and services relatively more expensive.
Financially, 2023 was a landmark year as Lithuania solidified its position as a leading European hub for fintech, particularly with the widespread use of electronic money (e-money) institutions. The Bank of Lithuania reported that the total value of payments handled by Lithuanian-licensed e-money institutions surpassed that of traditional banks. This digital finance boom, while separate from the physical euro currency, represented a dynamic and growing segment of the nation's financial landscape, operating within the secure framework of the single currency.
The primary domestic focus regarding currency was not on exchange rates but on inflation, which remained a significant economic challenge. While inflation in Lithuania peaked in 2022 and began to moderate in 2023, it consistently remained among the highest in the Eurozone. This was driven by persistent factors like elevated energy prices, strong wage growth, and robust domestic demand. Consequently, the real effective exchange rate—a measure of price competitiveness—was a point of attention, as high inflation risked making Lithuanian goods and services relatively more expensive.
Financially, 2023 was a landmark year as Lithuania solidified its position as a leading European hub for fintech, particularly with the widespread use of electronic money (e-money) institutions. The Bank of Lithuania reported that the total value of payments handled by Lithuanian-licensed e-money institutions surpassed that of traditional banks. This digital finance boom, while separate from the physical euro currency, represented a dynamic and growing segment of the nation's financial landscape, operating within the secure framework of the single currency.
💎 Very Rare