Vatican coin production is tied directly to papal reigns, and 2012 fell during the final full year of Benedict XVI's pontificate before his February 2013 resignation — the first papal abdication in nearly six centuries. Annual Vatican euro sets are struck in strictly limited quantities by the Italian State Mint under a monetary agreement with the Holy See, making circulation finds essentially nonexistent. Most examples go directly from mint sets into collections without ever exchanging hands as currency.
Vatican coin production is tied directly to papal reigns, and 2012 fell during the final full year of Benedict XVI's pontificate before his February 2013 resignation — the first papal abdication in nearly six centuries. Annual Vatican euro sets are struck in strictly limited quantities by the Italian State Mint under a monetary agreement with the Holy See, making circulation finds essentially nonexistent. Most examples go directly from mint sets into collections without ever exchanging hands as currency.