1 Euro - Rainier III

Monaco's euro adoption in 2002 came through a monetary agreement with the European Union rather than formal EU membership — the principality has never been a member state. The arrangement allowed Monaco to mint its own euro coins, but with strict annual mintage ceilings negotiated with the EU, keeping official circulation strikes extremely low. Collector demand immediately outpaced supply, and complete Monégasque euro sets from this period routinely sold at multiples of face value from the moment of issue.

Rainier III died in April 2005, making this short run the only Monaco euro coinage to bear his effigy.