That is an almost iconic design. Latvia used this portrait (the model was Zelma Brauere) on those first coins of the independent republic, also on the pre-euro 500 latu note, and now on the €1 and €2 circulation coins ... Christian
Very nice Latvia coin. For some reason I just keep forgetting to get a 5 lati even though it is really beautiful and affordable. How about a coin struck during Livonia & Estonia era? Struck in 1757. There are three denominations - 4, 24 and 96 kopek. Mine is a terrible low grade coin. A better one can be found on ebay. Please note that I am not the owner of this coin and am not promoting sales of it - turns out this is one of the better example I have seen online. http://www.ebay.com/itm/VERY-RARE-1757-RUSSIA-LIVONIA-ESTONIA-SILVER-4-KOPEK-NGC-AU50-/281480751529
Actually, there are also 2 kopek and 48 kopek coins. It was calculated that one thaler were equal with 96 kopek. This is the reason why there are 96 kopek (=1 thaler), 48 kopek (half thaler), etc nominals. However, somebody calculated wrong. The thaler were actually 109 kopek. After it was discovered, the minting of livonese coins were stopped.
The fancy font makes it hard to read but it's "Santims". Side note: Latvian has (like some neighboring languages) more than just singular and plural. So it is 1 santīms, 2 santīmi, but 10 santīmu. And 1 lats, 2 lati, 10 latu ... Christian