0 Euro - Ferrara

EuroSouvenir's zero-euro note program, administered through the Oberthur Fiduciaire presses in France, operates under a formal licensing arrangement with the European Central Bank — the only legal framework that permits a private commercial scheme to produce notes carrying the euro format and security features without constituting counterfeit currency. Oberthur prints them to full banknote specification, including the windowed security thread.

Ferrara joined a catalog that by 2019 numbered in the hundreds of subjects. Collector resale values vary sharply by print run size, which the issuer controls and does not always disclose.