200 Euros - Franciscus Archangels: Michael

Issued under Pope Francis as part of the Vatican's annual gold proof program, this piece belongs to a short archangel series that ran across multiple years. The Vatican's right to issue coinage — governed by a monetary convention with the European Union — limits annual mintages tightly, typically to a few hundred pieces for high-denomination gold. That ceiling, combined with collector absorption of virtually the entire mintage at issue, means surviving examples almost never pass through secondary markets with any signs of handling.