5 lats coin and freedom. The coin was designed by Rihards Zariņš. The image of the maiden on the coin is colloquially known as Milda (a Latvian female name). The model was Zelma Brauere (1900-1977), a proofreader of the State Securities Printing House. She served as a model for other works of the artist, including the 10 lats and 20 lats banknotes and the 50 santīmi coin. In 1939, the Latvian government prepared to mint new 5 lats coins to be issued in 1941. The Latvian maiden was to be replaced by a portrait of the authoritarian leader of Latvia, Kārlis Ulmanis. Those
Currency union such as some of the EU member state special territories, are sometimes treated as separate customs territory from their mainland state or have varying arrangements of formal or de facto customs union, common market and currency union (or combinations thereof) with the mainland and in regards to third countries through the trade pacts signed by the mainland state. Currency union A currency union (also known as monetary union) involves two or more states sharing the same currency without them necessarily having any further integration (such as an economic and monetary union, which would have, in addition, a customs union and