San Marino, one of the oldest republics in the world, has a fascinating numismatic history. Despite its small size, this micro-state nestled in Italy has managed to maintain its monetary independence over the centuries, reflecting its rich cultural heritage in its coins.
Current currency in circulation
San Marino currently uses the euro as its official currency, having adopted this currency in 2002. Although not a member of the European Union, San Marino has a special agreement that allows it to mint its own euro coins with unique national designs. These coins are highly prized by collectors due to their low mintage and distinctive designs that often depict historical and cultural elements of the republic.
Monetary history and relevant facts
Prior to the adoption of the euro, San Marino used the San Marino lira, which was on par with the Italian lira. The republic began minting its own coins in 1864, marking an important milestone in its monetary sovereignty. Throughout its history, San Marino has issued numerous commemorative coins, including gold and silver pieces, which have gained international recognition. A noteworthy fact is that in 1974, San Marino was the first country to mint a 1000 lira coin, setting a precedent in the region.
