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San Marino's late 19th-century silver coinage was struck under a monetary agreement with Italy, which effectively tied the republic to the Latin Monetary Union framework. The arrangement gave this tiny landlocked state the right to produce limited quantities of its own coinage while remaining interchangeable with Italian issues at face value — a pragmatic concession that suited both parties.

Mintage across the entire 1898–1906 run was modest even by San Marino's standards, with production handled at Rome.