2014-01-02
The first Lithuanian collector euro coin would be devoted to Coinage in the Grand Duchy of Lithuania
Should the Council of the European Union decide to allow Lithuania to adopt the euro in 2015, the first Lithuanian euro collector coin would be a gold coin devoted to Coinage in the Grand Duchy of Lithuania.
“This coin would symbolically link the new history of national numismatics with the old one. In the Middle Ages, the coins struck in the capital of the Grand Duchy of Lithuania, Vilnius, were not only used across the country, but beyond it as well. Once Lithuania adopts the euro, we would mint and issue into circulation both collector and circulation Lithuanian euro coins, and they, by spreading throughout Europe, would continue to make our country known,” says Marius Jurgilas, Member of the Board of the Bank of Lithuania.
The Board of the Bank of Lithuania envisaged that if the Council of the European Union takes a positive decision on the date of adoption of the euro in Lithuania as of 1 January 2015, the first collector euro gold coin, devoted to Coinage in the Grand Duchy of Lithuania, would be issued in the first quarter of 2015. Its projected mintage is 5,000, denomination — EUR 50.
If the decision of the EU authorities is positive, already before the actual adoption of the euro the Lithuanian Mint will also have to strike the Lithuanian circulation euro coins with the symbol of Vytis. Following euro adoption, these coins would not only be frequently found in the wallets of Lithuanian residents, but would be full-fledged legal tender across the euro area as well. One side of the circulation coins used in the euro area is uniform for all Member States (common side), the other — different (national side). The national side helps to identify the Member State that has issued the coin.
Each Member State of the European Union, whose currency is the euro, also has the right to issue two commemorative euro coins every year, with one side as the common side of the circulation coin of that denomination, the other — as the national side. Such coins are also used throughout the euro area.
Moreover, each euro area country may mint collector euro coins as well, selecting the denomination, metal and other features at its discretion. Such euro coins, as legal tender, are only valid in their country of issue.