Coin marks centenary of Latvian central bank

Take note – story published 1 year ago

The Latvian central bank, Latvijas Banka (LB) revealed October 28 that it will release a special coin to mark its own centenary. 1 November 2022 marks the 100th anniversary of the establishment of Latvijas Banka.

According to LB, the coin titled "Upward" is "a present to society at large on this special date" – though unlike most presents, it does not come free of charge.

"It invites and pushes us upward and strives upward itself, highlighting Latvijas Banka's journey through the past and clearly pointing in its future direction," the central bank suggests, before launching into a real rhapsody.

"The name of the coin in Latvian bears an association with an upward movement and a river. It also includes an allegory of overcoming gravity. A man also overcomes gravity when climbing upward or else he would never see the mountain top," the bank explains, blithely ignoring the fact that rivers are nothing if not subject to the laws of gravity from one end to the other.

"The obverse features nine steps with a smooth mirror surface set in relief, providing a glimpse of the eternal present and also the future which is man himself. A human life is a journey. The upper step is a gold-plated segment of a circle bearing an association with the edge of a rising sun and visually resembling the logotype of Latvijas Banka. The reverse is gold-plated and frosted. It shines in gold like a precious sun fountain or a serene gold surface of a lake ready to quench our thirst," says the central bank in a quite astonishing onslaught of simile and metaphor.

Returning to the realms of rough prose and bare fact, the 5 euro coin will be limited to 5,000 examples, with each one costing 78 euros and available for purchase only on the website from 12.00 (noon) on 1 November.  The coins are minted in Lithuania and, to the unpoetic eye, look a bit like a set of Venetian blinds.




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