The coin is issued within the international coin program Hansa Cities, organized by the Mint of Finland, and is dedicated to Ventspils, one of the eight Hanseatic cities of Latvia. Within this program, the Bank of Latvia will also issue coins commemorating other Hanseatic cities of Latvia.
First references to a port in this territory were made as early as 1263. The Venta Castle, which was built by the Livonian Order, is first referred to in chronicles in 1290. From the 14th to 16th century, Ventspils was a member of the Hanseatic League. The 17th century saw Ventspils evolve into the major port of the Duchy of Kurland and Semigallia. In our day Ventspils is both an important trading centre and a major port on the Baltic Sea coast.