0 Euro - Mdina Malta

The zero euro souvenir note program, administered by the FEAE and printed by Oberthur Fiduciaire, began in 2015 as a licensed novelty format — legal in design but carrying no monetary value and no obligation on any central bank. Oberthur produces them to the same technical standards as circulating currency, including genuine intaglio printing and embedded holograms, which has created an unexpected secondary market among collectors who treat them as legitimate numismatic items.

The Mdina issue is one of hundreds of site-specific releases, each sold exclusively at the featured location. Unsold stock is typically destroyed rather than redistributed, making low-print tourist-site editions genuinely scarce.