Latvian Euro Coins

The design of Latvian euro coins feature three separate designs. The design of the national side was publicized in July 2006 on the home page of the National Bank of Latvia. The designs featured were the Latvian maiden, (which featured on the 5 lats coin prior to World War II) on the 1 and 2 euro coins, the greater Coat of arms of Latvia on the 10, 20 and 50 cent coins, and the lesser Coat of arms of Latvia on the 1, 2 and 5 cent coins. Originally, it was planned that Freedom Monument would be featured on the €2 coin, but as the original design did not meet the regulations of the European Central Bank (it reached out into the ring of the coin and changed one of the stars), it had to be changed; Latvia decided that a changed design of the Monument would not be as recognisable and decided to use the Latvian maiden on the €2 coin, as well.

Latvia has been a member of the European Union since 1 May 2004, and as such also a member of the Economic and Monetary Union, but it has not yet completed the third stage of the EMU, and therefore still uses its own currency: The Latvian lats. Latvia had originally planned to adopt the euro as its official currency on 1 January 2008. In the last convergence report the country managed to comply with four out of the five needed convergence criteria for euro adoption. As the country currently is headed to comply with all five criteria in the first half of 2013, it is now expected that Latvia will introduce the euro on 1 January 2014 or further depending on the Eurozone crisis developments.