The Banque Centrale du Luxembourg has released commemorative gold Proof coins which mark the institution’s 25th anniversary of establishment. Prior to the inauguration of the Grand Duchy’s first Central Bank, financial regulation and the issuance of currency was overseen by the l’Institut Monétaire Luxembourgeois (IML) (“Luxembourg Monetary Institute”) in 1983. Before the establishment of the IML, Luxembourg’s currency issuance was the responsibility of the Banque Internationale à Luxembourg (BIL), created in 1856 while Luxembourg was part of a personal union with the Kingdom of the Netherlands. Despite the Grand Duchy being part of the Dutch Kingdom, Luxembourg circulated the Prussian thaler currency as they were in a customs union with the Imperial German Confederation. With the founding of the Banque Nationale du Grand-Duché de Luxembourg in 1873, bearer bonds were issued in Belgian francs as the country still did not have a designated currency of its own. However, the institution became insolvent by 1911 and was absorbed by the Banque Internationale à Luxembourg. With the independence of Luxembourg in 1890 from the Netherlands, Luxembourg aligned its financial and currency requirements with the Kingdom of Belgium and their franc, which was created in 1832. A law passed in 1914 made banknotes issued by BIL legal tender and in 1918, a Grand Ducal decree used the term Luxembourg franc for the first time. With the collapse of the Imperial German Federation at the end of the First World War, Luxembourg entered into a monetary union with Belgium which both created a de-facto Luxembourg franc and one-to-one parity with Belgium’s franc. From 1923, the Banque Internationale à Luxembourg released the first banknotes denoting the country’s own franc though Belgian franc currency was widely accepted. As the Second World War concluded and with Luxembourg’s liberation from occupation by the Third Reich, the Luxembourg franc was reintroduced with a series of new banknotes and coins released by the BIL. A change within the structure of the issuance of currency was put in place when the IML was authorised to issue currency two years after their establishment, this arrangement remained in place until 1998. With the organisation of the European Monetary Institute, later the European Central Bank and Luxembourg’s impending membership in the single-currency euro zone, the Banque Centrale du Luxembourg was established by laws dated the 22nd April and 23rd December 1998. This necessity was in line to comply with ECB regulation along with the other 11 Central Banks which comprised the euro system of governance. Since this time, the Banque Centrale has overseen the issue of banknotes and coins and oversaw the transition from the legacy Luxembourg franc to the Euro on the 1st January 2002.
The gold Proof-quality coins are produced by the Royal Dutch Mint at their facilities in Houten, Netherlands, on behalf of the Banque Central du Luxembourg. The reverse side includes a linear depiction of the first headquarters of the Banque Centrale du Luxembourg located at 2 Boulevard Royale, which was the former Banque Internationale du Luxembourg. The building was built in 1902 and purchased in 1998 by the newly created Central Bank. Alongside the historical landmark is the modern addition of the Banque Centrale which was added in 2003. Along the left rim is the text BANQUE CENTRALE DU LUXEMBOURG with the commemorative years 1998 and 2023 seen just above the older bank building. The numeral 25 serves both as the coin’s face value in EURO and celebratory occasion ANS (years). The obverse side depicts the definitive abstract effigy of HRH Grand Duke Henri created by engraver Yvette Gastauer-Claire and has been included on circulation and commemorative coins of Luxembourg since 2002. To the left of the Grand Duke’s likeness is the text 2023 LETZEBUERG shown in a vertical direction.
|15.5 g||30 mm||Proof||
Each coin is encapsulated and presented in a polished hardwood custom case accompanied by a certificate of authenticity. Residents and visitors can purchase collector coins at their Numismatic Center, 43, Avenue Monterey in Luxembourg. The Central Bank has also launched a new website to offer information and purchasing options for new collector coins here.
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