5 Scudi – San Marino

In the year 2000, San Marino's currency situation was intrinsically tied to its special relationship with Italy and the broader European monetary integration process. The Republic did not issue an independent, freely floating currency. Instead, its legal tender was the Italian lira, a arrangement formalized by a series of bilateral treaties dating back to 1939 and 1991. This meant the Sammarinese lira, which the government minted in limited quantities of coins (but not banknotes), was pegged at a 1:1 parity with the Italian lira and circulated interchangeably within the country. Monetary policy was effectively set by the Banca d'Italia, leaving San Marino without direct control over its own money supply or interest rates.

This period was one of significant transition, as San Marino, while not a member of the European Union, was actively negotiating its position regarding the upcoming launch of euro banknotes and coins in 2002. A critical Monetary Agreement with the EU and Italy, signed in 2000, laid the groundwork for this change. It granted San Marino the right to use the euro as its official currency and to issue its own limited quantities of Sammarinese euro coins, featuring national designs, starting in 2002. This agreement was crucial for maintaining the country's long-standing numismatic tradition and fiscal autonomy, while ensuring financial stability and seamless economic integration with its much larger neighbor and the eurozone.

Therefore, the currency landscape in 2000 was defined by duality and anticipation. The Italian lira remained the daily workhorse of the economy, but all financial and governmental planning was focused on the imminent adoption of the euro. The year marked the final chapter of the lira's era and the successful establishment of a legal framework that would allow San Marino to transition to the new European currency while preserving a symbolic element of its monetary sovereignty through its own distinctive coinage.