2 Euros Holy Year 2025

San Marino issues commemorative €2 coins under a special agreement with the European Central Bank that permits the microstate — with no central bank of its own and a population under 35,000 — to produce collector-oriented circulation coinage far exceeding what its domestic economy could absorb. The 2025 Holy Year, declared by Pope Francis for the jubilee cycle observed every 25 years, gave San Marino an obvious subject given its geographic enclosure within Italy and its historically close ties to the Holy See.

Jubilee years traditionally bring millions of pilgrims to Rome, and Vatican-adjacent commemoratives from microstates like San Marino and Monaco tend to see most of their mintage absorbed by the collector market almost immediately on release.