Bank of Lithuania
2011-06-21

A new gold coin given as a gift to the Lithuanian Basketball Team was accompanied by wishes to win the highest European award.

Two collectors coins – gold and circulation coins dedicated to basketball, popular sports in the country, issued into circulation by the Bank of Lithuania today have been presented in the Kaunas arena to the legendary basketball player Arvydas Sabonis and  the chief coach of the Lithuanian Men’s Team Kęstutis Kemzūra.

”I understand that it is not easy to produce such a gold coin.  It will not be easy ”to produce gold” in the European Championship.  But we shall do our best to follow the Bank of Lithuania and shall try ”to produce”. We shall have to share secrets on how the Bank does it” – promised cheerfully Kestutis Kemzūra during the new coin presentation in the Kaunas arena.  

Today during this presentation in the Kaunas arena Arvydas Sabonis effectively put the ball into the basket. This is how Lithuania’s Ambassador of the European Basketball Championship accompanied the new gold coin into life and wished to the Lithuanian Men’s Team the highest success.

”We are presenting this collector coin when little time is left until the start of the European Basketball Championship that will be held in Lithuania. We present the Lithuanian Men’s Team that will participate in the championship with the gold coin wishing to win the gold medals. This is what all Lithuania is dreaming about! – said  Audrius Misevičius, Member of the Board of the Bank of Lithuania, Chairman of the Currency Design and Production Commission. He noted that this was the first time the Bank of Lithuania issued a 50 litas gold coin. Its mintage is 5 thousand pieces. ”I hope it will be attractive to both, numismatists and a large circle of basketball fans”– observed Audrius Misevičius.

1 litas circulation coins dedicated to basketball have also been issued at the mintage of one million pieces. ”They will soon appear in purses of the majority of Lithuania’s population” – mentioned Audrius Misevičius.

The new coins were presented to Vladas Garastas, President of the Lithuanian Basketball Federation, other quests of the arrangement.

The graphic designs of the coins dedicated to basketball were created by Liudas Parulskis, plaster models – by Giedrius Paulauskis. The coins were minted by the UAB Lietuvos monetų kalykla (Lithuanian Mint). The 50 litas coin was made from gold of 999 fineness, its diameter – 16.25 mm, weight – 3.10 g. The circulation coin was made from the copper - nickel alloy.

Coins can be acquired from the cash offices of the Bank of Lithuania in Vilnius (2/8 Totorių St), Bank of Lithuania branches in Kaunas (25 Maironio St) and Klaipėda (16 Naujojo uosto St). The price of the gold coin in a display box is LTL 450. The commemorative coin is traded (exchanged) at its nominal value, i.e., 1 litas. UAB Lietuvos monetų kalykla (Lithuanian Mint) packed 10 thousand 1 litas coins in special plastic casings (price– LTL 5).

The Bank of Lithuania has already issued 69 collectors (commemorative) coins. Eleven from these coins are gold coins.