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The Bank of Estonia (Eesti Pank) is planning to put into circulation a two-euro coin dedicated to Ukraine and freedom that has been designed by a young Ukrainian refugee from the war who is studying at the Estonian Academy of Art. The coin with this design is expected to enter circulation later this year. Although we will also have the same currency in a special presentation, a coincard, which will go on sale this summer and the profits generated will be transferred to the Central Bank of Ukraine.
The Eesti Pank Supervisory Board approved the coin's design at an extraordinary meeting this week. The coin has been designed by Daria Titova, originally from Kharkiv, who is currently studying at the Estonian Academy of Art. The designer explained that a girl appears on the coin as a symbol of tenderness, protecting a bird in her hand. The design also includes an ear of wheat.
The central bank's Supervisory Board decided to use the text Slava Ukraini (Glory to Ukraine) on the currency to symbolize Ukraine's independence and resistance. "It is the first time that a coin issued by the Eesti Pank bears a text in a foreign language, but this was an extraordinary case, and Slava Ukraini embodies Ukraine's drive for freedom," said Supervisory Board Chairman Mart The AR.
“At Eesti Pank we were looking for a way to support Ukrainians in their struggle, and we decided that minting a circulation coin with a special design would allow us to show our association with the Ukrainian central bank by supporting it financially and sending a coin with a symbolic message to everyone in Europe. It seemed important to us that the coin dedicated to Ukraine and freedom be made as soon as possible, and be designed by a Ukrainian. Young Ukrainian art students, their supervisor, Professor Ivar Sakk, and the Estonian Academy of Art helped us achieve this,” said Eesti Pank Governor Madis Müller.
The coin design competition was overseen by the Art Academy's Vice-Chancellor for Academic Affairs, Anne Pikkov. “As soon as the war started, the Academy allowed art students who had to leave Ukraine to continue their studies with us. When Eesti Pank suggested this wonderful idea to us, we quickly organized the contest, and Ukrainian students from different disciplines immediately started working on the ideas. Next, we organize a jury to evaluate the designs. It gave us a special energy that still resonates as the students felt they could really do something to help their country and spread a vitally important message.”
It normally takes more than 18 months to create a commemorative two-euro coin, but in this case preliminary work started in April, and the central bank expects to issue 2 million of the dedicated Ukraine two-euro coins by the end of this year or so. beginning of the next. The design of the two euro coin must be approved by the European Commission and the Member States of the European Union.
While the coins should start appearing in shops and wallets later this year, Eesti Pank will start selling a card with the same coin this summer. “This is a great solution, but since we are transferring the proceeds from the sale of the money card to the Ukrainian central bank, we wanted to establish this support channel as quickly as possible. Ukraine is fighting for its freedom, and every euro counts," Müller said.
The Eesti Pank plans to initially produce 40,000 coincards, but is willing to increase the number if demand is higher. The coincard has been designed by Vladimir Taiger, who has also been a consultant for the design of the coin. The price of the coin in this special presentation will be decided before it goes on sale.
The central banks of Latvia and Lithuania support the idea of commemorating Ukraine's struggle for freedom; they also plan to issue euro coins dedicated to Ukraine.
2 euro commemorative coins 2022
Estonian 2 euro commemorative coins
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