0 Euro - 150° Anniversario Alpini

Zero-euro souvenir notes are a creature of ESBA licensing, first introduced around 2015 and printed exclusively by Oberthur Fiduciaire under an arrangement that keeps the European Central Bank largely indifferent — the denomination carries no legal tender status and no redemption obligation. Oberthur applies genuine security printing to these, including the holographic strip, which is the same production infrastructure used for circulating currency.

This particular issue marks the 150th anniversary of the Alpini, the Italian Army's mountain infantry corps founded in 1872 — one of the oldest specialist mountain units still active in any European military.