2 Scudi Work

San Marino's 1986 gold issue belongs to a run of annual collector pieces that the republic began producing in earnest after its 1972 mint treaty with Italy, which granted San Marino the right to strike its own coinage independently for the first time in the modern era. Annual gold scudi issues from this period were produced in strictly limited quantities — rarely exceeding a few thousand pieces — and sold almost exclusively through subscription, meaning genuine circulation was never a factor.