Fiorini

The Fiorini was the currency of the Republic of San Marino, predating the introduction of the Euro in 2002. It was subdivided into 100 centesimi. Although San Marino was not a member of the European Union, it was permitted to use the Italian lira as legal tender and also issued its own coins denominated in Fiorini. The Fiorini was pegged to the Italian lira at par (1:1). Upon the adoption of the Euro, the Fiorini ceased to be legal tender and was replaced at the fixed exchange rate of 1 Euro = 1936.27 lire. The Fiorini coins, while technically currency, were primarily targeted towards collectors and tourists and were seldom seen in circulation within San Marino itself. The issuance of these coins provided a source of revenue for the microstate.