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Vatican euro coins are issued by the Philatelic and Numismatic Office of the Vatican City State and minted by Istituto Poligrafico e Zecca dello Stato (IPZS), in Rome, Italy. The euro is the official currency of the Vatican City , although Vatican City is not a member of the Eurozone or the European Union .
Since 2002 it has had a special agreement with the EU that allows this microstate to mint a limited number of euro coins. This article is specifically about the euro gold and silver (or other precious metals) commemorative coins of the Vatican City and does not cover the pre-euro commemorative coins. [1] [2] [3] [4]
While Vatican stamps may only be used within the Vatican City State and the quantity of euro coins is limited by treaty with Italy (the total value of all coins minted in 2002 was restricted to €310,400), [2] Vatican coins and stamps serve as an important sign of Vatican sovereignty, and their scarcity and design makes them popular with ...
In Germany, silver €10 commemoratives are available at banks and some retailers at face value, but the coins do not generally circulate. It is uncertain whether the EU Council of Ministers will grant the coins legal tender status outside national boundaries, as San Marino, Monaco and Vatican City also issue these kinds of coins.
Italian coins and banknotes were legal tender in the Vatican City. The Vatican coins were minted in Rome and were also legal tender in Italy and San Marino. In 2002, the Vatican City switched to the euro at an exchange rate of 1 euro = 1,936.27 Lire. It has its own set of euro coins.
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The basis for the euro coins is derived from a European recommendation from 2003, which allowed changing the national obverse sides of euro coins from 1 January 2004 onwards. [2] Regarding them, a series of restrictions apply: [3] [4] [1] Commemorative coins have a different national face than usual and keep the common face.
There are eight euro coin denominations, ranging from one cent to two euro [1] (the euro is divided into a hundred cents). The coins first came into use in 2002. They have a common reverse, portraying a map of Europe, but each country in the eurozone has its own design on the obverse, which means that each coin has a variety of different designs in circulation at once.
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