15 Euro Milano Cortina Olympic Winter Games

Estonia has no historical connection to alpine or winter sports prestige, but the country has punched well above its weight at the Winter Olympics since regaining independence — cross-country skiers Andrus Veerpalu and Kristina Šmigun-Vähi both brought home gold in the 2000s, giving the nation legitimate claim to the theme. Eesti Pank issues commemoratives sparingly, and winter sports subjects are rare in their catalog.

The 2026 Games mark the first time a Winter Olympics has been split across two host cities — Milan and Cortina d'Ampezzo — a logistical arrangement negotiated after the original sole-host bid collapsed in 2019.