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The Council of the European Union has approved the design of the coin on yesterday published an announcement on it in the Official Journal of the European Union.

The author of the graphic design is Henrihs Vorkals, and the plaster model has been created by Janis Strupulis.

The issuance of Latvia's very first EUR 2 commemorative coin is projected for the beginning of autumn 2014. The mintage number of the coin will be 1 million, with 5,000 coins (graded "Brilliant Uncirculated") minted additionally and packed in special souvenir boxes.

Currently the phase of the last formalities to enter into contract on the production of the coin with the German mint "Staatliche Munze Baden-Wurttemberg" is underway. The Latvian euro circulation coins were also struck at this mint.

Every year, each euro area country is entitled to issue two special EUR 2 commemorative coins (similar to LVL 1 special circulation coins previously issued in Latvia), featuring events of national, European or global significance. Furthermore, euro area countries can additionally produce a third EUR 2 commemorative coin, provided that it is issued jointly and that it commemorates events of Europe-wide importance.

These commemorative coins bear the same features and the same European side as well as the edge as the EUR 2 coins of general circulation, while their national sides carry commemorating motifs.

These euro coins of special design are legal tender throughout the euro area. They can be used and must be accepted just like any other euro coin.

The issuance of collector coins with motifs characteristic of Latvia, executed in high artistic quality, is another area of coin art. As before, the Bank of Latvia is projecting to produce from 5 to 7 collector coins with the euro nominal on an annual basis. Collector coins are legal tender only in the issuing country. They are unlikely to come into general circulation, for, by nature, they are works of art, enjoying high demand from numismatic community. The nominal value of collector coins (for example, EUR 5 or EUR 10) must differ from that of coins in general circulation. Their specifications, including color, diameter, weight, material and others, shall be cardinally distinctive from the coins in general circulation.

In 2014, the Bank of Latvia will continue minting collector coins featuring cultural and historical values and symbols characteristic of Latvia. The euro collector coin issuing program for 2014 provides for the dedications to the 300th anniversary of Gothard Friedrich Stenders (Old Stenders), the "White Book" by Janis Jaunsudrabins, the Baroque style and art in Kurzeme, and the 25th anniversary of the Baltic Way. A coin of innovative artistic, technological or thematic concept is also projected. This year, it will commemorate the Latvian national rites, featuring year's four seasons and the related work activities and celebrations.

Latvia's first collector coin celebrating 150 years of Ainazi Nautical School was issued on 5 March 2014.