The new coin will be legal tender in Latvia. The coins will be put into circulation like any other circulation money, reaching commercial and other enterprises as well as population through banks.
The coin has been designed by Ilmars Blumbergs and the model made by Janis Strupulis. The new one-lat coins are struck at Munze Osterreich (Austria).
The Bank of Latvia commenced minting special one-lat circulation coins twelve years ago, and the “Parity Coin” concludes the cycle. As of January 1 next year, Latvia will introduce the euro and become a full-fledged member of the Economic and Monetary Union; nevertheless, the tradition to issue special circulation coins will continue.
A coin with an image of a stork opened the series, and since 2004 a new coin to mark a special occasion has been put into circulation twice a year. The “Parity Coin” is the 23rd special one-lat circulation coin.
The central motif of the “Parity Coin” resembles a tree trunk keeping roots and branches, the earth and the sky together. It symbolizes a road leading to new challenges, dreams and opportunities.
The reverse of the new coin shows a symmetrical mirror image of numeral “1″, a component of the inscription “1 LATS” and “1,42 EIRO”. The obverse displays the number 2013, the year of minting, below the coat of arms of the Republic of Latvia. In terms of edge, size, metal or weight, there are no other distinctive features between the new coin and its other one-lat circulation counterparts.
The total circulation of the coin is 500,000, and, like all other special one-lat circulation coins, it will not be supplemented.
