Catalog
1 Euro
| Issuer | Latvijas Banka (Bank of Latvia) |
|---|---|
| Year | 2014-2022 |
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| Value | 1 Euro |
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| Obverse description | The obverse features a right-facing bust of a Latvian folk maiden, adapted from the design originally engraved for the reverse of the 1929 5 Lati silver coin, rendered in a classical relief style. The legend LATVIJAS arcs along the upper left and REPUBLIKA along the upper right of the inner disc, with the year of issue positioned at the base of the design. The outer ring carries the twelve stars of the European Union, evenly spaced and rendered in raised relief against the nickel brass ground. |
|---|---|
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| Obverse lettering | LATVIJAS REPUBLIKA 2014 (Translation: Republic of Latvia) |
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| Additional information |
Latvia joined the Eurozone on 1 January 2014, making it the eighteenth member state to adopt the common currency. The timing was politically deliberate — Riga had been pushing for accession since 2004 EU entry, but the 2008 financial crisis forced a severe IMF-backed austerity programme that delayed qualification by nearly a decade. The crisis shrank Latvian GDP by roughly 25% in two years, one of the steepest peacetime contractions ever recorded in Europe.
These coins were struck at the Latvijas Monētu Kaltuves facility in Rīga — one of the few eurozone member states to mint its own national-side euro coins domestically from the outset.