5 lats coin coins were never minted as the Second World War broke out. After the Soviet occupation of Latvia in 1940, lats continued to circulate alongside the Soviet ruble, although silver coins had largely disappeared from circulation. (Even prior to the war, Latvian people had started to hoard silver coins to prepare for the imminent crisis.) On 25 March 1941, all denominations of lats were abruptly annulled. As the general society was given no prior warning, an estimated 50 million lats were never exchanged for rubles. The people were left with suddenly-worthless coins and bills, except for sentimental value and the silver
Currency Commission Currency Commission The Currency Commission ("Coimisiún Airgid Reatha"), was created by the Currency Act, 1927 (Section 14) as part of the policy of the Irish Free State to create the 'Saorstát pound'. The Currency Commission commissioned the Series A Banknotes, through the advice of an advisory commission. It also issued the "Ploughman series" of banknotes for Irish banks, which were legal tender until 1953. The Chairman of the Currency Commission was Joseph Brennan. On the adoption of the Constitution of Ireland in 1937 the "Currency Commission of the Irish Free State" became the "Currency Commission of Ireland". In 1942 the