YEREVAN, September 12. /ARKA/. The Central Bank of Armenia has issued 500 silver commemorative coins dedicated to the fifth anniversary of the Eurasian Economic Union (EEU). The face value of a coin is 1,000 drams, it said in a news release.
The obverse of the coin depicts the emblem of the Republic of Armenia, as well as sails and stars, the number of which corresponds to the number of EEU member states. The reverse depicts the EEU logo and stylized images of the flags of its member states.
The cons were designed by Eduard Kurginyan and were minted at the Royal Mint of the Netherlands.
The Central bank said commemorative coins are coins made of precious metals, which are issued with the aim of presenting national, interethnic, historical, cultural, spiritual and other values of of a country, perpetuating these values in the metal, as well as to satisfy the needs of the numismatic market.
Like any other type of money, commemorative coins have a nominal value, which makes them a legal tender. However, the nominal value of commemorative coins is much lower than their cost, which includes the value of the precious metal of which the coin is made, production and other costs. Because of low face value and high cost commemorative coins are not used as legal tender, but as collectible. Their selling price is set by the Central Bank of Armenia.
As collectible, commemorative coins are issued in strictly limited numbers and are not re-issued.
Numismatists, collectors and interested people can purchase commemorative coins of Armenia in a store, which is located in the Central Bank of Armenia and is open to everyone. -0-
