World coins chat: Latvia

Latvia is geographically the middle of the three Baltic states in Europe. It borders Estonia, Lithuania, Russia and Belarus, and shares a maritime border with Sweden. Latvia's population is 2.2 million.

The Latvians are a mix of several Baltic tribes that resided in the region for at least 2000 years. In the north Livonians, who spoke a Finnic language close to Estonian could be found. In the Middle Ages German Teutonic Knights started to colonise and christianise the area, eventually founding the Duchy of Courland and the Confederation of Livonia. These ancestors of Baltic Germans would influence the region for centuries to come until they were forcefully 'repatriated' by Nazi Germany in 1939.

In 1561 Livonia became a Duchy within the Polish-Lithuanian Commonwealth, with Riga becoming a Free City within the Holy Roman Empire until 1581. The Swedish Empire took control of Livonia in 1621 until the Russian Empire annexed it during the Great Northern War in 1710 (and formalised in 1721). The Russians established the Governorate of Livonia where the local Germans practically held all key positions. In Riga 40% of the population spoke German as a first language, but outside less than 10%.

In the 19th century the Latvian identity was revived. 80% of the population was Latvian but Germans had the most influence and there was a significant Jewish community. At the end of WW1 Latvia declared independence but the German Empire, having won the Eastern Front, had different plans and tried to establish a puppet state. Despite the Germans leaving the area after the Treaty of Versailles the Baltic Germans still wished to cling on power. The young Latvian state managed to defeat the Baltic Germans and gain recognition from the newly established Soviet Union in 1920.

Latvian independence lasted until 1940, when a decade marked by war and atrocities started. The initially secret Molotov-Ribbentrop Pact put Latvia in the Soviet sphere of influence, and the USSR started by demanding land access to its troops. Similar to the situation in the neighbouring Baltic countries, the parliament of Latvia was replaced by Soviet-friendly members, which voted for 'voluntary' accession of Latvia to the USSR. The exact course of events surrounding Latvia's assimilation in the Soviet Union is still hotly debated by Latvians and Russians today.

In 1941 many Latvians were deported to Siberia, a practice repeated in 1949 and left deep scars in Latvian society. Many perished due to the horrible conditions, with Latvian army officers often killed at the spot. From 1941 until 1944 Latvia was occupied by Nazi Germany. The SS and Latvian collaborators were responsible for mass killings of Jews and communists. The scale at which the killings took place are beyond compare. Of the Latvian Jewish population, only 10% made it through the end of WW2. The violence of both sides of the conflict still fuels Latvian-Russian debates today, with one group accusing the other for denying its own black pages in history.

The return of the Soviets in 1944 caused many Latvians to seek refuge in Western countries, and repercussions on the remaining population were brutal. As a result of this violent decade, 90% of the Latvian Jews were killed, and 25% of the Latvian population were either killed or deported to Siberia. Only after Stalin's death Chrushchev allowed some of the displaced nationalities to return to their homelands. After 1953 conditions improved in Latvia but the level of autonomy remained limited.

The Soviet Union invested heavily in the industrialisation of the Latvian SSR, achieving the highest living standards in the Union together with Estonia. Many skilled and educated Russians moved there to work in the factories and became around 40% of Latvia's population, a big demographic shift from pre-war Latvia.

In 1989 the first freely elected Latvian parliament voted for independence, which was granted in 1991. The sizable Russian community in Latvia could only become Latvian citizens if they spoke Latvian, which left many without passports. The EU demanded that Latvia change the treatment of its minorities which eventually improved conditions. In 2004 Latvia joined the EU and has seen its economy growing rapidly since. However, many young and skilled Latvians have left the country to work in the West.

Currency
The Duchy of Courland and the Livonian Confederation had their own coins based on silver and gold coins used in the wider region, such as the Solidus (Szelag/Schilling/Skilling), Thaler/ Daler and gold Ducat. In Polish times the Grosz (Grossus) was added which had a varying value compared to the other coins. A gold Ducat was worth 4 2/3 Thaler, a Złoty worth 30 Groszy and a Grosz 3 Solidi.

After 1721 the Ruble became the currency in use, and Russian Imperial coinage circulated, with the exception of a few very rare coins struck for Livonia & Estonia in 1757.

In 1917 German troops conquered Riga and introduced the Ostruble which circulated also in occupied territories in Poland and Belarus. Latvia initially continued to use the Ostruble (Rublis in Latvian) after independence in 1918. In 1922 this was replaced by the Lats (=100 Santimi) at a rate of 50 Rublis to 1 Lats. This Lats was equal to the Swiss Franc (5.18 Ls/$ and 25.22 Ls/£), and as such were the only two currencies left that still followed the specifications of the Latin Monetary Union after 1920.

World War 2 ended the use of the Lats, and subsequently Rubles and Reichsmarks and again Soviet Rubles ciculated. In 1991 Latvia split its own Rublis from the Soviet Ruble at par, followed by the introduction of the Second Lats in 1993 at a rate of 200 Rublis to 1 Lats. This currency had a very high nominal value, being close to the Pound Sterling. Initially pegged to SDR (an IMF-defined basket of currencies) it was pegged to Euro in 2003, and replaced by Euro in 2014 at a rate of 0.7028 Ls/€.

Coins
Because Latvia was part of so many historic entities, many different coins were used in the area allowing for a nice variety to be collected by local numismatists. Coins from before the 19th century are quite hard to find, but some pop up here and then.

The iron Ostruble Kopek coins are sold regularly on ebay and such, but beware of cleaned/polished versions. Coins of the First Lats were pretty rare before 1990 but are now quite easy to find. The design of the large silver 5 Lats coin is very popular and inspired the design for the contemporary Latvian 2€ coin.

Modern Latvian coins circulated for around 20 years and are easy to find. The commemorative 1 Lats issued yearly are less common. They were hardly at all to be found in circulation.


Coins of Courland listed with the Polish Lithuanian Commonwealth (Ryga mint):
https://en.numista.com/catalogue/pologne-lituanie-1.html

Coins of Livonia (pre-1721):
https://en.numista.com/catalogue/livonie-1.html

Coins of the Russian Governorate of Livonia & Estonia (only issued in 1757):
https://en.numista.com/catalogue/livonia-and-estonia-1.html

Coins of the Ostruble (1916-1918):
https://en.numista.com/catalogue/allemagne-pre1945-1.html#devise253

Coins of Latvia (from 1922):
https://en.numista.com/catalogue/lettonie-1.html

Just a little thing to add: While Livonia has it's own listing, coins of Duchy of Courland are (will be - request was made) located within Polish-Lithuanian Commonwealth.

As he said

And Latvia is, to date, the last EU country to have joined the EMU, alongside with Andorra which is not part of EU. I think this country will remain the last member for a few years.

Quote: "chomp-master"​As he said
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​And Latvia is, to date, the last EU country to have joined the EMU, alongside with Andorra which is not part of EU. I think this country will remain the last member for a few years.

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Andorra is neither part of EU nor EMU. It is granted rights to use Euro and since they complied to some tax evasion prevention laws are allowed to have a few coins minted with their name on it. The same situation is applicable to Monaco, San Marino and Vatican.

The next country to join EMU? Croatia perhaps. Poland seems reluctant and the Czech Republic has such a strong currency that it would rather wait until the Euro has a more solid base.

And would remain Hungary, Romania and Bulgaria as well.

Quote: "chomp-master"​And would remain Hungary, Romania and Bulgaria as well.

​Forgot about those, oops. Hungary's Forint has been weak at times and PM Orban not a big fan of EU. Romania's economy has improved a lot but it might still take a decade before EMU accession (if Euro still exists in its current form). Bulgaria's Lev is already pegged to Euro so inrtroducing Euro would be relatively easy. But Bulgaria borders Greece and if Greece exits it would be a huge problem for Bulgaria. Besides that, Bulgaria's banking system has been unstable lately.

I would still expect Croatia to be the first.

Anyway the accession system requires at least 2-3 years to allow a new member joining the Union. No more country that way before 2020 I guess!

Oops... I made a mistake, confusing Latvia and Lithuania

Quote: "chomp-master"​Oops... I made a mistake, confusing Latvia and Lithuania

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And I didn't even notice!

Quote: "jokinen"​

Quote: "chomp-master"​Oops... I made a mistake, confusing Latvia and Lithuania

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​And I didn't even notice!

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