Cyprus releases silver €5 coin for EU presidency

The Central Bank of Cyprus (CBC) has announced the issue of a €5 silver collector coin titled “Rigaina’s castles”, marking the assumption of the Council of the European Union presidency by the Republic of Cyprus for the first half of 2026.

The coin, produced in proof condition with mint year 2026, forms part of a commemorative initiative linked to Cyprus’ role in the rotating presidency of the council.

According to the central bank, the design reflects the myth of Rigaina’s castles, as presented by the Press and Information Office, combining historical symbolism with elements linked to Cyprus’ European role.

The coin also features the official logo of the Cyprus presidency of the council for the first half of 2026, which evokes the radiant Cypriot sun symbolising life, light, energy, renewal and hope for a shared, sustainable and brighter European future.

The collector coin was designed by artist George Stamatopoulos, while the minting process was carried out at the Bank of Greece printing works department.

The central bank confirmed that the total issue is limited to 2,000 coins, each presented in a protective case.

The selling price has been set at €65 including VAT, according to the announcement.

The obverse side of the coin displays the emblem of the Central Bank of Cyprus, alongside the inscriptions of the word Cyprus in Greek, Turkish and English, as well as the year “2026”.

The reverse side features a composition depicting Rigaina overseeing her castles, with the logo of the Cyprus presidency of the council placed next to the figure.

Around the design appears the circular inscription ‘Rigaina’s Castles‘ in Greek, along with the word Cyprus in both Greek and Turkish, while the coin’s nominal value of €5 is also displayed.

In terms of technical characteristics, the coin has a round shape and a diameter of 38.61 millimetres, according to the central bank.

The coin weighs 28.28 grams, while the edge is plain.

The composition of the coin includes an alloy of 92.5 per cent silver and 7.5 per cent copper, reflecting typical specifications for collector coins.

The central bank explained that two consecutive sales periods have been established, referred to as phase A and phase B.

Phase A will run from March 16, 2026 until April 8, 2026, covering sales to professional coin dealers, non-profit numismatic organisations, collectors and the public.

During this period, the CBC will accept applications from professional coin dealers and non-profit numismatic companies between March 16, 2026 and March 20, 2026.

The bank will respond to each application between March 23, 2026 and March 27, 2026, while reserving the right to reject applications either wholly or partially.

Professional dealers applying to purchase numismatic items from the central bank for the first time must register on the CBC’s list of numismatic dealers.

Before the application deadline, these applicants must submit by email their company’s VAT number and an official document confirming that the main activities of the company include the trade of numismatic items.

The CBC also said that applications must be submitted electronically through the designated online platform, while applications sent through any other method will be rejected.

Depending on the allocation of coins determined by the central bank, a discount of 10 per cent will be offered on the total quantity of the initial purchase for orders of at least 20 coins.

The same discount will apply to any subsequent purchases of any quantity during phase A and or phase B by the same customer, calculated on the selling price excluding VAT.

Sales to the public and collectors will begin on March 30, 2026 and continue until April 8, 2026, provided that stock remains available.

During this period, sales will be conducted on a first come first served basis at CBC counters and through an online application system.

Each individual will be allowed to purchase up to two coins in total, either at the counters or through electronic ordering.

For electronic applications, the central bank will notify applicants within five working days after the conclusion of over-the-counter sales regarding whether their request has been successful.

For purchases made at the counters, payment can be made either in cash or by card, with the exception of American Express cards.

For electronic purchases, payment will be accepted only via Visa or Mastercard, according to the central bank’s announcement.

Phase B will commence on April 15, 2026, provided that coins remain available after the completion of phase A.

During this second phase, collectors will be able to visit the CBC counters to purchase the coin, again on a first come first served basis.

Each applicant during phase B will be permitted to purchase a maximum of four coins per day.

For further information or clarifications, interested parties may contact the central bank by telephone at +357 22714745 or +357 22714154, or by email at numismatic.orders@centralbank.cy.