2 Euro (Grand Duke Henri's admission to the International Olympic Committee) – Grand Duchy of Luxembourg
Circulating commemorative coins
Commemoration: 25th Anniversary of the admission of Grand Duke Henri as a member of the International Olympic Committee
Luxembourg
Context
Year: 2023
Country: Luxembourg 
Issuer: Grand Duchy of Luxembourg
Issuing organization: Central Bank of Luxembourg
Ruler: Henry
Currency:
(since 2002)
Total mintage: 131,000
Material
References
KM: #Click to copy to clipboard188
Numista: #360804
Value
Exchange value: 2 EUR = $2.36
Inflation-adjusted value: 2.18 EUR
Obverse
Description:
The design features Grand Duke Henri's effigy facing right, alongside the number '25' and pictograms of Olympic disciplines. Three intersecting circles appear below, with the text 'MEMBER VUM INTERNATIONALEN OLYMPESCHE KOMMITEE' at bottom right. 'LËTZEBUERG' and 'GROUSSHERZOG HENRI' are on the left. The outer ring bears the 12 stars of the European flag.
Inscription:
LËTZEBUERG
GROUSSHERZOG HENRI
MEMBER VU INTERNATIONALEN OLYMPESCHE KOMMITEE
GROUSSHERZOG HENRI
MEMBER VU INTERNATIONALEN OLYMPESCHE KOMMITEE
Translation:
LUXEMBOURG
GRAND DUKE HENRI
MEMBER OF THE INTERNATIONAL OLYMPIC COMMITTEE
GRAND DUKE HENRI
MEMBER OF THE INTERNATIONAL OLYMPIC COMMITTEE
Script: Latin
Reverse
Edge
The sequence "2 ★ ★" repeated six times alternately upright and inverted
Legend:
2★★2★★2★★2★★2★★2★★
Mints
| Name | Mark |
|---|---|
| Kremnica | — |
| Monnaie de Paris | — |
| Royal Dutch Mint | — |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2023 | — | 3,500 | Proof | |
| 2023 | — | 7,500 | BU | |
| 2023 | — | 120,000 |
Historical background
In 2023, the Grand Duchy of Luxembourg’s currency situation remained firmly anchored within the Eurozone framework, utilizing the euro (EUR) as its sole legal tender. As a founding member of the European Union and an early adopter of the single currency in 1999, Luxembourg benefits from the stability and credibility of the European Central Bank's (ECB) monetary policy. This integration shields the highly open, service-based economy from exchange rate volatility and facilitates seamless trade and financial flows with its key partners, notably Germany, France, and Belgium. The nation’s financial sector, a cornerstone of its economy, operates with deep efficiency within this unified monetary system.
The year was marked by Luxembourg navigating the ECB’s concerted efforts to combat high inflation across the Eurozone through a series of interest rate hikes. While necessary to cool the economy, these tighter monetary conditions presented a nuanced challenge for Luxembourg’s housing market, where high levels of household debt and elevated property prices made borrowers more sensitive to rising borrowing costs. Nevertheless, the country’s robust fiscal position, AAA credit rating, and strong banking sector provided significant buffers against these headwinds, ensuring overall financial stability.
Looking beyond domestic circulation, Luxembourg’s role as a premier global financial center meant its currency landscape was heavily influenced by international finance, including fund administration, private banking, and fintech innovations. The stability of the euro was paramount in maintaining confidence in these cross-border activities. Furthermore, 2023 saw continued exploration of digital finance, with the nation actively participating in Eurosystem discussions on a potential digital euro, aiming to future-proof its currency framework while ensuring it remains aligned with broader European financial integration and innovation goals.
The year was marked by Luxembourg navigating the ECB’s concerted efforts to combat high inflation across the Eurozone through a series of interest rate hikes. While necessary to cool the economy, these tighter monetary conditions presented a nuanced challenge for Luxembourg’s housing market, where high levels of household debt and elevated property prices made borrowers more sensitive to rising borrowing costs. Nevertheless, the country’s robust fiscal position, AAA credit rating, and strong banking sector provided significant buffers against these headwinds, ensuring overall financial stability.
Looking beyond domestic circulation, Luxembourg’s role as a premier global financial center meant its currency landscape was heavily influenced by international finance, including fund administration, private banking, and fintech innovations. The stability of the euro was paramount in maintaining confidence in these cross-border activities. Furthermore, 2023 saw continued exploration of digital finance, with the nation actively participating in Eurosystem discussions on a potential digital euro, aiming to future-proof its currency framework while ensuring it remains aligned with broader European financial integration and innovation goals.
🌱 Common