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2 Scudi Nativity

Issuer San Marino
Year 2011
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Diameter 21 mm
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Reverse description The reverse presents a stylised Nativity scene rendered in low relief within a square recessed panel at the centre of the field. The composition depicts the Virgin Mary kneeling to the left before the Christ Child in a manger, flanked by attending figures including the Magi and a shepherd, with an angel descending from above against an architectural background. The legend NATIVITA' arcs along the upper margin above the panel, while the denomination 2 SCUDI appears in bold lettering along the lower periphery. The Rome Mint mark R is positioned to the left of the panel and the mintmaster's mark m to the right.
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Mint R
Rome, Italy (476-date)
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Additional information

San Marino's annual gold scudi series has been issued continuously since the 1970s under agreements with Italy that permit the republic to strike collector coinage despite having no independent central bank. The Nativity subject appears across multiple years in the series, making KM#517 specifically the 2011 iteration — one of the lower-mintage years, as collector demand for these issues softened noticeably in the post-2008 market contraction.

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