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San Marino

San Marino (officially the Republic of San Marino; its Italian full name isSerenissima Repubblica di San Marino or the Most Serene Republic of San Marino) is an enclaved microstate surrounded by Italy, it s the second smallest country in Europe and the fifth smallest in the world. It lies in the Italian interior, near the tourist center of Rimini. It covers 61 km2 and has approximately 32,000 inhabitants. The capital is San Marino and the largest city is Dogana. The country’s economy depends mainly on industry, services and tourism. San Marino is one of the richest states in the world. It has a highly stable economy, with one of the lowest unemployment rates in Europe. The currency is the euro, although San Marino is not an official member of the European Union. Tourism in San Marino accounts for 62.24% of GDP. In 1997, more than 3.3 million tourists visited San Marino. Agriculture is of little importance. Grains, grapes and olives are grown. San Marino postage stamps are very valuable and have always been popular with stamp collectors.


Emission plan of the AASFN

San Marino inhabitants have never demanded to have their own mint. There was never even a single benefit in opening a mint, with everything that such an institution would entail. Costs could only have been compensated by sufficient currency flow and the banking system would have to be able to support the coins. In the nation’s history there was no monarch or other aristocrat whose ambitions necessitated putting their own portrait or symbols of power on coins.

The matter was raised at several times, but these discussions never bore fruit. The only mention of mintage in San Marino comes from 1871, when it involved secret minting by a counterfeiter.

The issue of San Marino’s coins was dealt with systematically in the Italian– Sammarinese Monetary Agreement of 1862. Thus, in 1864, the Royal Mint in Milan struck the first 5 cent copper coin depicting San Marino’s official coat of arms of that time.

Other emissions followed at regular intervals, e.g. the first silver coins in 1989, in accordance with the clauses contained in other monetary agreements, until the one in 1939, in which the Republic of San Marino promised that it would no longer carry out any minting of coins other than gold ones, and would itself use the services of the Royal Mint. World War II and the subsequent economic crisis temporarily shut down any considerations over numismatics.

Since 1974, however, several series of coins have been struck with a sign of prestige, origin and autonomy.

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