Wirtland was founded on August 14, 2008 as a public initiative and is principally represented through its official website. Wirtland purports to be an experiment into legitimacy and self-sustainability of a country without its own soil, which transcends national borders without breaching or lessening the sovereignty of any involved. Wirtland is currently governed by a chancellor, and aims to become a parliamentary democracy.

Wirtland’s population is around 1,000 and represents people from all five continents.

In January 2010 Wirtland officially proposed to acquire land by consent from the Republic of Nauru (the world’s smallest country).If successful, Wirtland will remain a virtual community, as no buyer will physically move to Nauru. However, presence of defined territory is a necessary condition for diplomatic recognition of Wirtland by international community, according to Article 1 of Montevideo Convention on the Rights and Duties of States. According to Montevideo Convention, to have sovereignty, a state must have a permanent population, a defined territory, and a government.

This is the second coin ever produced for Wirtland. The first coin was a pure gold coin, which, like this one, has become very popular among collectors.