St. Wenceslas ducats issued in 1923 on the occasion of the 5th anniversary of the 1st Czechoslovak Republic, followed the tradition of gold coinage minting on our territory. The motif of St. Wenceslas represents a certain return to the depiction of the national saint on Czech coins. The Czechoslovak ducats minted in Kremnica according to the winning design of Jaroslav Benda and Otakar Španiel were not coins in circulation but investment coins with high content of precious metal. The first 1000 minted ducats were given serial numbers on the occasion of their special edition, and were handed over to the then prominent personalities headed by President Tomáš Garrigue Masaryk. Ducat No. 1 was subsequently given by the President to the collections of the National Museum.
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