0 Euro - Valencia

Souvenir zero-euro notes have been issued under the Eurosouvenirs program since 2015, printed by established security printers — Oberthur among the most prolific — on genuine banknote paper with the same intaglio and UV features used on circulating euros. They are not legal tender but are technically indistinguishable in feel and security profile from the real thing, which is precisely the point. The Banque de France and ECB have tolerated the scheme on the basis that the zero denomination removes any legal ambiguity.

This Valencia issue belongs to a wave of Spanish regional and municipal subjects that expanded sharply from 2022 onward as the souvenir note market matured.