Launched in 2017 by Oberthur Fiduciaire, the zero-euro souvenir note program was a commercial curiosity from the start — legal tender in name only, face value literally nothing, sold retail for several euros apiece at tourist sites and cultural institutions across France and beyond. The Belém Tower issue belongs to a Portuguese-themed subset that exploited the genuine-security-feature appeal of real euro-format printing: same paper, same intaglio feel, same UV-reactive elements as circulating currency, which is precisely why collectors and tourists bought them.
No monetary function, no redemption value. The legal basis rested on a European Central Bank non-objection rather than formal authorization.
Launched in 2017 by Oberthur Fiduciaire, the zero-euro souvenir note program was a commercial curiosity from the start — legal tender in name only, face value literally nothing, sold retail for several euros apiece at tourist sites and cultural institutions across France and beyond. The Belém Tower issue belongs to a Portuguese-themed subset that exploited the genuine-security-feature appeal of real euro-format printing: same paper, same intaglio feel, same UV-reactive elements as circulating currency, which is precisely why collectors and tourists bought them.
No monetary function, no redemption value. The legal basis rested on a European Central Bank non-objection rather than formal authorization.