20 Euro – Slovakia
Non-circulating coins
Commemoration: Vihorlat Protected Landscape Area
Slovakia
Context
Material
References
KM: #Click to copy to clipboard203
Numista: #377896
Value
Exchange value: 20 EUR = $23.57
Bullion value: $87.28
Inflation-adjusted value: 23.49 EUR
Obverse
Description:
The obverse shows a European tree frog and dragonfly among reeds. At upper right is "SLOVENSKO"; at bottom right, the Slovak coat of arms with "2023" above it. The bottom edge features the Kremnica Mint mark (MK) and the designer's initials "RL" for Roman Lugár.
Inscription:
SLOVENSKO
2023
2023
Script: Latin
Engraver: Dalibor Schmidt
Designer: Roman Lugár
Reverse
Description:
The reverse depicts a deer drinking at Morské oko lake, creating ripples, with a mountain backdrop inside a semicircular line. "20 EURO" is above the mountains, and "CHRÁNENÁ KRAJINNÁ OBLASŤ VIHORLAT" arches along the upper edge.
Inscription:
CHRÁNENÁ KRAJINNÁ OBLASŤ VIHORLAT
20 EURO
20 EURO
Translation:
Protected Landscape Area Vihorlat
20 Euro
20 Euro
Script: Latin
Language: Slovak
Engraver: Dalibor Schmidt
Designer: Roman Lugár
Edge
Smooth with inscriptions in hollow
Legend:
• OCHRANA PRÍRODY A KRAJINY
Translation:
Protection of Nature and Landscape
Language: Slovak
Mints
| Name | Mark |
|---|---|
| Kremnica | (MK) |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2023 | MK | 2,700 | ||
| 2023 | MK | 6,300 | Proof |
Historical background
In 2023, Slovakia's currency situation was defined by its continued use of the euro, which it adopted in 2009. As a member of the Eurozone, the country's monetary policy was set by the European Central Bank (ECB), which spent the year aggressively combating high inflation across the bloc. The ECB's successive interest rate hikes aimed to cool the economy and bring down price growth, which also peaked in Slovakia at levels slightly above the Eurozone average, driven primarily by high energy and food costs. Consequently, the Slovak koruna was a historical footnote, with all domestic prices, wages, and financial transactions conducted in the common European currency.
The year was marked by significant economic and political pressures related to currency-area membership. While the euro provided stability and shielded Slovakia from volatile currency fluctuations, it also meant the country had no independent monetary tools to address its specific economic conditions. The tight monetary policy from Frankfurt helped gradually lower inflation from its peak, but it also increased borrowing costs, slowing economic growth and investment. This tension was a key point of domestic debate, particularly as the government, led by Prime Minister Ľudovít Ódor and later Robert Fico, navigated the need for fiscal consolidation while managing public discontent over the cost-of-living crisis.
Looking externally, the euro's exchange rate against major currencies like the US dollar experienced volatility, influenced by the ECB's policy divergence with the Federal Reserve and global uncertainty. For Slovakia, a small, open, export-oriented economy (notably in the automotive sector), a weaker euro during parts of the year provided a competitive boost for its key industrial exports. Overall, the 2023 currency narrative was one of navigating the trade-offs of Eurozone membership: enjoying the benefits of a stable, strong currency while managing the one-size-fits-all policy constraints during a period of economic adjustment and heightened inflation.
The year was marked by significant economic and political pressures related to currency-area membership. While the euro provided stability and shielded Slovakia from volatile currency fluctuations, it also meant the country had no independent monetary tools to address its specific economic conditions. The tight monetary policy from Frankfurt helped gradually lower inflation from its peak, but it also increased borrowing costs, slowing economic growth and investment. This tension was a key point of domestic debate, particularly as the government, led by Prime Minister Ľudovít Ódor and later Robert Fico, navigated the need for fiscal consolidation while managing public discontent over the cost-of-living crisis.
Looking externally, the euro's exchange rate against major currencies like the US dollar experienced volatility, influenced by the ECB's policy divergence with the Federal Reserve and global uncertainty. For Slovakia, a small, open, export-oriented economy (notably in the automotive sector), a weaker euro during parts of the year provided a competitive boost for its key industrial exports. Overall, the 2023 currency narrative was one of navigating the trade-offs of Eurozone membership: enjoying the benefits of a stable, strong currency while managing the one-size-fits-all policy constraints during a period of economic adjustment and heightened inflation.
💎 Extremely Rare