10 Euro – Malta
Malta
Context
Year: 2021
Issuer: Malta 
Issuing organization: Central Bank of Malta
Period:
(since 1974)
Currency:
(since 2008)
Total mintage: 1,000
Material
References
Numista: #412109
Value
Exchange value: 10 EUR = $11.78
Bullion value: $871.79
Obverse
Description:
The coin's obverse features "Melita," inspired by Edward Caruana Dingli's 1922 stamp.
Inscription:
MELITA • 2021 ✠ TEN EURO
Translation:
MALTA • 2021 ✠ TEN EURO
Script: Latin
Designer and engraver: Edward Caruana Dingli
Reverse
Description:
The reverse features Malta's coat of arms.
Inscription:
10 OZ 999.0 FINE SILVER
€ 10
✠ MALTA ✠
€ 10
✠ MALTA ✠
Script: Latin
Edge
Plain
Categories
| Transportation> Watercraft |
| Building> Lighthouse |
| Currency> Stamp depiction |
| Art> Fictional character |
| Symbols> Coat of Arms |
| Mythology |
| Symbol> Allegory |
Mints
| Name | Mark |
|---|---|
| Produits Artistiques Métaux Précieux (PAMP) | — |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2021 | — | 500 | ||
| 2021 | — | 500 | BU |
Historical background
In 2021, Malta remained a committed member of the Eurozone, using the euro (€) as its sole legal tender. This adoption, which began in 2008, provided the small island nation with significant economic stability, particularly during the global turbulence of the COVID-19 pandemic. The common currency insulated Malta from exchange rate volatility, facilitated seamless trade with its main European partners, and provided access to the European Central Bank's supportive monetary policies. Domestically, price stability was largely maintained, though the country, like the rest of the Eurozone, experienced a period of low, but rising, inflation driven by global supply chain disruptions and recovering energy prices.
The year was nonetheless marked by a specific financial controversy related to currency controls. In response to being placed on the FATF (Financial Action Task Force) "grey list" for money laundering concerns in June 2021, Maltese authorities and financial institutions enacted de facto stricter controls on large cash transactions. While not official capital controls, banks became increasingly cautious, often requiring extensive documentation for significant euro deposits or transfers, particularly from non-resident clients. This created operational challenges for some businesses and individuals, highlighting how regulatory pressures could impact the practical flow of currency within a Eurozone member state.
Overall, the euro's framework provided a bedrock of macroeconomic stability in 2021, allowing Malta's economy to rebound strongly with one of the fastest growth rates in the EU. The primary currency-related issues were not about the euro itself but were ancillary, stemming from the country's efforts to strengthen its anti-financial crime framework to regain international standing. Consequently, the year underscored the dual reality of being in a monetary union: benefiting from shared stability while also being subject to collective regulatory scrutiny and the need to maintain robust national financial governance.
The year was nonetheless marked by a specific financial controversy related to currency controls. In response to being placed on the FATF (Financial Action Task Force) "grey list" for money laundering concerns in June 2021, Maltese authorities and financial institutions enacted de facto stricter controls on large cash transactions. While not official capital controls, banks became increasingly cautious, often requiring extensive documentation for significant euro deposits or transfers, particularly from non-resident clients. This created operational challenges for some businesses and individuals, highlighting how regulatory pressures could impact the practical flow of currency within a Eurozone member state.
Overall, the euro's framework provided a bedrock of macroeconomic stability in 2021, allowing Malta's economy to rebound strongly with one of the fastest growth rates in the EU. The primary currency-related issues were not about the euro itself but were ancillary, stemming from the country's efforts to strengthen its anti-financial crime framework to regain international standing. Consequently, the year underscored the dual reality of being in a monetary union: benefiting from shared stability while also being subject to collective regulatory scrutiny and the need to maintain robust national financial governance.
✨ Legendary