0 Euro Knights of Malta

The Knights of Malta — formally the Sovereign Military Order of Malta — is one of the few non-territorial entities recognized as a sovereign subject of international law, maintaining diplomatic relations with over a hundred states despite holding no land since losing Malta to Napoleon in 1798. That peculiar status makes it a plausible subject for a souvenir zero-euro note, even if the Order issues no currency of its own. Oberthur Fiduciaire, the French security printer behind a large share of the EuroSouvenir program's output, produced this under license from the European Central Bank, which authorizes the format for collector and tourist use on condition that no denomination carries actual legal tender value.

The zero-euro format was introduced in France in 2015 and has since flooded the collector market with hundreds of subjects — a volume that has kept secondary prices low for most issues.