0 Euro - Vaticano

The "0 Euro" souvenir note genre is a product of SEFJ, a French toy and novelty company that licenses the format through agreements with Oberthur Fiduciaire — one of the genuine security printers that produces official euro banknotes for several eurozone central banks. That connection to a real fiduciary printer is the entire point: the notes are printed on proper banknote paper with security features close enough to the real thing to satisfy collectors, while the zero denomination renders them legally inert.

The Vatican variant is particularly brisk commerce. The Holy See is not a eurozone member in any conventional sense — it issues its own Vatican euro coins under a special agreement with Italy, but prints no paper currency. This note fills a gap that official channels never will.