Banknotes and coins

Law No. 101 of July 29, 2013, constitutes the "Collection of Provisions on Banknotes and Coins" in accordance with the Monetary Convention signed between the Republic of San Marino and the European Union on March 27, 2012, and made effective by Council Decree No. 120 of August 7, 2012. It specifically addresses provisions concerning euro banknotes and coins, as well as measures to prevent fraud and counterfeiting.

In line with the provisions of Article 31 of the aforementioned Law, the Congress of State issued Delegated Decree No. 116 of August 8, 2013, which governs the penalties related to these matters. The Central Bank, under the authority of Article 2 of the same Law, issued Regulation no. 2013-04, which, in addition to complementing regulations for the full implementation of EU law regarding the authenticity and suitability checks of euro banknotes and coins, establishes detailed and operational provisions for cash handlers. This includes lists of equipment for authenticating or sorting euro banknotes (ECB list) and equipment for coin processing (EC list).

The Central Bank, through a Memorandum of Understanding with the Bank of Italy, reflects the cooperative relationship between the two central banks in this field and manages cash services.

The protocol ensures a structured information flow from the CBSM and allows it to:
(i) submit suspected counterfeit and damaged banknotes to the Bank of Italy;
(ii) deposit fit and unfit banknotes for circulation and withdraw them at the Bank of Italy’s Forli Branch.

The agreement also governs the submission of statistical reports on the recirculation of euro banknotes and coins issued by the Republic of San Marino.

Law July 29, 2013 no. 101
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Delegated decree August 8, 2013 no. 116
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