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- Spot Silver Price: $32.26
Silver coins were in regular circulation in Latvia. The values below represent the intrinsic value of silver coins from Latvia.
Latvia silver coins that are in uncirculated condition, or that may be rare and collectible may also have numismatic value. You can use this table as a guide when buying and selling circulated silver coins from Latvia.
The melt values are calculated and displayed in USD based on the today's silver spot price of $32.26 per troy ounce.
| Denomination / Currency | Years Minted | Fineness | Gross Weight (g) | ASW (g) | ASW (oz t) | Melt Value |
|---|---|---|---|---|---|---|
| 1 Lats | 1923- 1924 | .835 | 5 | 4.18 | .1342 | $4.33 |
| 2 Lati | 1925- 1926 | .835 | 10 | 8.35 | .2685 | $8.66 |
| 5 Lati | 1929- 1932 | .835 | 25 | 20.88 | .6711 | $21.65 |
The history of silver coins in Latvia is a fascinating journey through time, reflecting the political and economic changes the country has undergone. Here is an overview of significant periods in the history of Latvian silver coinage:
During the medieval period, Latvia was part of various regional powers, including the Livonian Confederation. Silver coins circulated widely, primarily from neighboring regions such as Germany and Sweden. The use of silver as a medium of exchange was common, but there were no distinctly Latvian silver coins during this time.
Latvia declared its independence in 1918 after World War I. The newly established Republic of Latvia issued its own currency, including silver coins. In 1922, Latvia introduced the Latvian lats, which included silver coins in denominations such as 1 lats, 2 lati, and 5 lati. These coins often featured national symbols and were a significant aspect of the country's economic identity.
Latvia was occupied by the Soviet Union in 1940, and the Latvian lats was replaced by the Soviet ruble. During this period, Latvian-specific coinage ceased to exist, and Soviet coins, which did include some silver issues, were in circulation.
After regaining independence in 1991, Latvia reintroduced its national currency, the Latvian lats, in 1993. Silver coins were once again part of the currency system, with commemorative silver coins being issued to mark significant national events and anniversaries. These coins are often sought after by collectors for their historical and cultural significance.
Latvia adopted the euro on January 1, 2014. While the euro does not include specifically Latvian silver coins, the Latvijas Banka (Bank of Latvia) continues to issue commemorative silver coins that are legal tender within the euro area. These coins celebrate Latvian heritage, culture, and important events.