1 Scudo - Angelo

The Sovereign Military Order of Malta occupies a peculiar position in numismatics: a non-territorial sovereign entity issuing legal tender accepted nowhere in ordinary commerce. These scudi were struck for the collector market and diplomatic exchange rather than circulation, a practice the Order formalized in the early 1970s as a revenue stream and soft-power instrument. The Angelo series takes its name from the Maltese gold scudo of the Knights Hospitaller period, deliberately invoking eight centuries of monetary tradition from an order that has held no physical territory since Napoleon expelled them from Malta in 1798.