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Latvia – 5 Lati – 1931

After becoming independent, Latvia began to issue its own coins. The flagship of the series was the 5 lati coin, which depicted a female representation of liberty (“Milda”) and the Latvian coat of arms.¬†They were used all the way up to the Soviet occupation, during which they were suddenly declared worthless. However, many Latvians kept these coins in their homes as a symbol of Latvian independence. When the Soviet Union collapsed, this popular motif was once again introduced on Latvian banknotes. Latvian 1 and 2 euro coins now depict Milda as well.