1/2 Scudo Cavalier

San Marino's gold scudo series was issued annually for collectors through the 1990s and into the early 2000s, with the cavalier denominations drawing directly on the republic's medieval monetary traditions rather than any contemporary circulation need. By 2001 these pieces were produced exclusively for the numismatic market — no meaningful circulation ever occurred.

Fr#88 places this squarely in Friedberg's coverage of San Marino's modern gold, a reference that itself reflects how seriously the hobby treats even late 20th-century issues from the microstate.