Bank of Lithuania

The journey of collector and commemorative coins from just an idea to a glittering new coin in your collection is a long one. Find out more about this process!

  • Step 1 – Selection of the theme
    The theme for the coin is the first to be selected, i.e. what the new collector or commemorative coin will be dedicated to.
    In preparing collector and commemorative coin issue plans, the Bank of Lithuania assesses proposals for coin themes from the public, numismatists, state and educational institutions, as well as public organisations, received by the Bank of Lithuania via different channels (by email, by filling in a special form on the Bank of Lithuania’s website to submit proposals, by post, etc.). In addition, the Bank organises meetings with state institutions (target groups) and consults historians, artists, sculptors, graphic artists as well as heraldic and other experts (hereinafter – experts), as necessary. The submitted proposals are considered by the Coin Creation Commission, which includes the Bank of Lithuania staff, representatives of the Lithuanian Mint and, where necessary, experts. 

  • Step 2 – Drafting of the plan for coin issue
    The Coin Creation Commission prepares the plan for coin issue and decides on the theme (title), denomination, technical parameters (metal composition, fineness, weight, shape and its parameters, quality), packaging type, mintage and the day of issue. The plans for coin issue prepared by the Coin Creation Commission are approved by the Board of the Bank of Lithuania. Usually a one-year or several-year plan is drawn up.

  • Step 3 – Creation of the graphic coin design
    Having approved the plan for coin issue and technical characteristics of the coins, a graphic coin design is created. The creation of all graphic designs of coins issued by the Bank of Lithuania is organised by the Lithuanian Mint: it holds open or closed contests or places orders for specific authors. Artists and sculptors can present their visions: what image best and most artfully lends credence to the specific theme of the coin. The best works selected by the Lithuanian Mint are then evaluated by the Coin Creation Commission which selects the best graphic design of each coin. Experts are consulted as needed.

  • Step 4 – Preparation for the minting of the sample coin
    The Lithuanian Mint prepares for coin minting in metal according to the chosen best graphic design. A plaster model of the coin may be created, but not necessarily, i.e. the graphic drawing is transformed into a relief plaster model where not only the details of the graphic design are included but the model is supplemented with new artistic strokes that are possible due to the peculiarities the sculpture technique. Instead of the plaster model, a digital relief may be created. It is a virtual representation of a graphic design in relief (the equivalent of a plaster model in a digital format) that meets the technical requirements for coin minting. 
    Alternatively, in order to check whether the chosen solution is technically feasible, a layout of the coin may be produced – the implementation of an innovative image (design) and/or technological solution in metal based on a sketch, graphic design, plaster model or digital relief. These stages are proposed by the Lithuanian Mint, and the Coin Creation Commission takes a decision on their necessity and appropriateness. 

  • Step 5 – Minting of the sample coin
    After completing the preparatory work, as necessary, a sample coin is minted – an example in line with the established technical specifications as well as the graphic design, plaster model digital relief or layout. The sample is evaluated by the Coin Creation Commission and approved by the Chairman of the Board of the Bank of Lithuania or the Director of the Cash Department. The minted coin sample is kept at the Bank of Lithuania Money Museum. The sample coin is not included in the total mintage and is never issued into circulation.

  • Step 6 – Minting of coins
    The planned mintage for the coin is minted at the Lithuanian Mint, and the procurement procedures for minting services are carried out in accordance with the Republic of Lithuania Law on Public Procurement in the Field of Defence and Security.

  • Step 7 – Issuance into circulation
    The coin is issued into circulation on the set day, as approved by the Board of the Bank of Lithuania. Coins can be purchased at the Bank of Lithuania cash offices or on the e-shop. The pre-sale on the e-shop starts five working days prior to the issuance of the specific coin or the first day of sale. The number of coins per one person during the pre-sale on the e-shop before 24:00 (Lithuanian time) on the date of issue of the coin is limited.

Last update: 19-04-2017