5 Euro – Latvia
Non-circulating coins
Commemoration: The coin honours the firefighters and rescuers for their professionalism and heroic acts of bravery for the good of the nation.
Latvia
Context
Material
References
KM: #Click to copy to clipboard167
Numista: #72153
Value
Exchange value: 5 EUR = $5.91
Bullion value: $58.24
Inflation-adjusted value: 7.33 EUR
Obverse
Description:
The obverse depicts firefighters amid flames, flanked by two firemen. Crossed oak branches are at the bottom. The top bears the semi-circled inscription "UGUNSDZĒSĪBAI LATVIJĀ" with the number 150 below it, and the year 2015 is inscribed at the lower part.
Inscription:
UGUNSDZĒSĪBAI LATVIJĀ
150
2015
150
2015
Translation:
FIRE SAFETY IN LATVIA
150
2015
150
2015
Script: Latin
Language: Latvian
Engraver: Ligita Franckeviča
Designer: Henrihs Vorkals
Reverse
Description:
A fully-equipped firefighter team in a horse-drawn cart, above the semicircular inscription "5 EURO."
Inscription:
5 EURO
Script: Latin
Engraver: Ligita Franckeviča
Designer: Henrihs Vorkals
Edge
The edge bears the inscriptions LATVIJAS BANKA and LATVIJAS REPUBLIKA, separated by rhombic dots.
Legend:
LATVIJAS BANKA ◊ LATVIJAS REPUBLIKA ◊
Translation:
LATVIJAS BANKA ◊ LATVIJAS REPUBLIKA ◊
Language: Latvian
Mints
| Name | Mark |
|---|---|
| Royal Dutch Mint | — |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2015 | — | 10,000 | Proof |
Historical background
In 2015, Latvia was in its second year as a member of the Eurozone, having adopted the euro on January 1, 2014. This move marked a significant milestone, solidifying its integration with core European economic and political structures after a deliberate, decade-long journey following EU accession in 2004. The primary motivation for the switch from the lat was to eliminate currency exchange risks, lower borrowing costs, attract further foreign investment, and deepen financial stability. By 2015, the initial technical transition was complete, with euros fully circulated and the lat a relic of the past.
The broader economic context in 2015, however, presented challenges. Latvia's economy was experiencing a notable slowdown, partly due to economic stagnation in Russia following the 2014 annexation of Crimea and the resulting Western sanctions. This impacted Latvian exports and transit sectors. Furthermore, the country was under the scrutiny of the European Central Bank (ECB), which in 2015 was implementing a quantitative easing program to combat deflationary pressures across the Eurozone. For Latvia, this meant its monetary policy was now fully set in Frankfurt, a shift that required domestic fiscal policy to bear more responsibility for managing economic fluctuations.
Domestically, the currency situation was stable but accompanied by persistent public debate. While businesses and the financial sector largely welcomed the euro for the predictability it offered, a segment of the population, particularly older citizens, remained nostalgic for the lat and blamed the euro for perceived price increases during the changeover. Politically, the adoption was considered a success for the governing coalition, reinforcing Latvia's Western alignment at a time of heightened geopolitical tension with Russia. Thus, in 2015, the euro was firmly established as Latvia's operational currency, serving as a symbol of European integration while the nation navigated external economic headwinds under a new, centralized monetary framework.
The broader economic context in 2015, however, presented challenges. Latvia's economy was experiencing a notable slowdown, partly due to economic stagnation in Russia following the 2014 annexation of Crimea and the resulting Western sanctions. This impacted Latvian exports and transit sectors. Furthermore, the country was under the scrutiny of the European Central Bank (ECB), which in 2015 was implementing a quantitative easing program to combat deflationary pressures across the Eurozone. For Latvia, this meant its monetary policy was now fully set in Frankfurt, a shift that required domestic fiscal policy to bear more responsibility for managing economic fluctuations.
Domestically, the currency situation was stable but accompanied by persistent public debate. While businesses and the financial sector largely welcomed the euro for the predictability it offered, a segment of the population, particularly older citizens, remained nostalgic for the lat and blamed the euro for perceived price increases during the changeover. Politically, the adoption was considered a success for the governing coalition, reinforcing Latvia's Western alignment at a time of heightened geopolitical tension with Russia. Thus, in 2015, the euro was firmly established as Latvia's operational currency, serving as a symbol of European integration while the nation navigated external economic headwinds under a new, centralized monetary framework.
💎 Very Rare