5 Euro (Coin for Boys' and Youth Choir Ąžuoliukas founder Herman Perelstein) – Lithuania
Non-circulating coins
Commemoration: Coin dedicated to the Boys' and Youth Choir Ąžuoliukas on the occasion of the 100th birth anniversary of its founder Herman Perelstein
Lithuania
Context
Material
References
KM: #Click to copy to clipboard285
Numista: #380157
Value
Exchange value: 5 EUR = $5.91
Bullion value: $32.26
Inflation-adjusted value: 5.53 EUR
Obverse
Description:
The obverse features the young Ąžuoliukas Choir singers, surrounded by the inscriptions LIETUVA, €5, 2023, and the Lithuanian Mint mark.
Inscription:
LIETUVA 5 € 2023 LMK
Translation:
LITHUANIA 5 € 2023 LMK
Script: Latin
Languages: Lithuanian, Latin
Designer: Egidijus Rapolis
Reverse
Description:
The reverse features choir founder Herman Perelstein, encircled by the inscription: "CHORO 'ĄŽUOLIUKAS' ĮSTEIGĖJUI HERMANUI PERELŠTEIUI – 100."
Inscription:
CHORO „ĄŽUOLIUKAS“ ĮSTEIGĖJUI HERMANUI PERELŠTEIUI – 100
Translation:
To the founder of the choir "Ąžuoliukas," Hermanas Perelšteinas – 100
Script: Latin
Language: Lithuanian
Designer: Egidijus Rapolis
Edge
Symbols
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.
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