Monaco's euro coinage is struck under a standing agreement with the European Union that permits the principality to issue coins in limited quantities proportional to its domestic circulation needs — one of the more quietly contested arrangements in the eurozone, given Monaco's lack of EU membership. The 2007 issue came during the reign of Albert II, who had ascended only in 2005 following Rainier III's 56-year rule, making these early Albert-era coins the first significant new Monégasque circulation series in over half a century.
Monaco's euro coinage is struck under a standing agreement with the European Union that permits the principality to issue coins in limited quantities proportional to its domestic circulation needs — one of the more quietly contested arrangements in the eurozone, given Monaco's lack of EU membership. The 2007 issue came during the reign of Albert II, who had ascended only in 2005 following Rainier III's 56-year rule, making these early Albert-era coins the first significant new Monégasque circulation series in over half a century.