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Among the numismatic finds acquired at a fair in Valencia, a 2 lati coin from Latvia, dated 1926, stands out. This currency appeared just eight years after the country declared its independence and became an important affirmation of the new statehood.
Among the numismatic finds acquired at a fair in Valencia, a 2 lati coin from Latvia, dated 1926, stands out. This currency appeared just eight years after the country declared its independence and became an important affirmation of the new statehood.
The coin's design was intended to reflect national unity. For the first time, the coat of arms united the symbols of the three historical regions, emphasizing the integrity of the young state. It was not just an instrument of payment, but a declaration of sovereignty embodied in metal.
| Parameter | Value |
| --- | --- |
| Material | 835 Silver |
| Weight | 10 g |
| Diameter | 28.3 mm |
| Mintage | approx. 1.5 million pieces |
The 1926 2 Lati coin was minted from 835 silver. Its mintage was about one and a half million pieces, which makes it relatively accessible to collectors, despite historical turmoil.
The key parameters of the coin are presented below:
The sketch was authored by the famous Latvian artist Rihards Zariņš, one of the creators of the country's coat of arms and first banknotes. In his work, he was inspired by Latvian ornamentation and the classic German school of engraving, which gave the coin a strict and recognizable appearance.
Every element of the coin's design carries historical meaning. The obverse features the coat of arms of Latvia: a rising sun, symbolizing the rebirth of the nation, supported by a lion and a griffin. Above the coat of arms are three stars.
These elements are directly linked to the country's history. The stars and figures on the coat of arms symbolize the unity of Latvia's three historical lands:
The reverse of the coin displays the denomination '2 LATI' and the date '1926'. The composition is framed by a wreath of oak branches—a traditional symbol of strength and longevity.
The use of 835 silver was not just an aesthetic choice. It served as a symbol of the reliability of the Latvian lats, which was considered one of the most stable currencies in Europe during the 1920s. For its high minting quality and strict design, collectors sometimes call this coin the 'Baltic Franc,' comparing it to German Reichsmarks and Swiss francs.
After Latvia's accession to the USSR in 1940, these coins began to be withdrawn from circulation. The silver was melted down en masse, which significantly reduced the number of surviving original specimens. This fact adds to the coin's collectible value today.
Upon detailed examination under a microscope, no signs of harsh cleaning are found; however, common scratches are visible, indicating that the coin was in heavy circulation. Strange parallel lines are also noticeable on the reverse, possibly from contact with a hard object. The coin's condition can be graded as 'Extremely Fine'.
An analysis of prices on online auctions shows that the value of a 1926 Latvian 2 Lati coin varies greatly. Specimens sold in a similar condition have gone for prices ranging from 14 to 18 euros. The cost of coins in high preservation, confirmed by grading (for example, MS 62 or MS 64), can reach 77-137 euros and higher. Thus, purchasing this particular specimen for 15 euros is a fair market price.
