Released 7/15/2000

1929 5 lats Latvia Republic 1,000,000 mintage and the only coin minted that year. 83.5% silver (Ag), 16.5% copper (Cu) There's an inscription around the rim as follows: DIEVS [GOD] SVETI [BLESS] LATVIJU [LATVIA]. The beautiful lady on the obverse is the symbol of Latvia [like Britannica for Great Britain and other ladies for other countries], and has the folk nickname  "Milda". The coat of arms on the reverse represents the following: The 3 stars symbolize the 3 historical districts - Kurzeme[Courland], Zemgale [Semigallia] and Latgale [Livland/Livonia]. The lion stands for Livonia and griffin for Courland [comes from the history - the two biggest duchies in old times]. The small shield in between: sun/sea goes for the country on the sea coast and the small griffin/lion once again. The oak branches below goes for the land, were the oak symbolizes strength. After the proclamation of the Republic of Latvia in 1918, a large variety of different currencies were in circulation - ostrubles and ostmarks, German reichsmarks, the so-called Tsar rubles and kopecks, the so-called Money of Duma and kerenkas, as well as promissory notes of several town municipalities. On August 3, 1922, the Cabinet of Ministers approved "Regulations on Money". The national currency of Latvia was named the lats, and the hundredth part of a lats was named santims.The design of this coin was created by Rihards Zarins. On June 17, 1940 Latvia was occupied by the Red Army, and on August 5 it was incorporated into the Union of Soviet Socialist Republics. Beginning with October 10, 1940, the Latvia Republican Office of the State Bank of the USSR, which was a constituent part in the centralized Soviet banking system, took over the rights of the Bank of Latvia. The USSR's monetary system was gradually introduced in Latvia. With the resolution of the Popular Council of Commissars of the Latvian SSR passed on November 25, 1940, the exchange rate of the lats against the USSR ruble was determined (1 lats = 1 ruble). This marked the beginning of a simultaneous circulation of two currencies in Latvia, which lasted for four months. Without prior notice, the lats was withdrawn from circulation on March 25, 1941. The USSR ruble became the only legal tender in Latvia until 1991 when Latvia regained its independence. The lats currency was introduced again in 1993.