The State has its own currency and issues its own postage stamps. With the exception of its gold and silver coins, Vatican coins, have legal tender even in Italy and in all other countries, by virtue of the Monetary Agreement with the Italian State, on behalf of the European Community, dated 29 December 2000.
The Agreement gave Vatican City State the right to use the Euro as its own official currency, as of 1 January 1999. The State regulated the exercise of this right, with Vatican Law No. CCCLVII of 26 July 2001.
As Vatican City State does not have a proper institute that can issue its own metallic coins, it has made a commitment to have them minted in Italy, by the Istituto Poligrafico e Zecca dello Stato (Poligraphic Institute and State Mint) – to a maximum value, which is currently set at one million Euro per year.
In 1996, in light of the Jubilee of 2000, Vatican City returned to minting gold coins, which had been regularly issued every year from 1929 to 1959. This continued even after the Jubilee and still continues with a yearly mint release.
The issuing of postage stamps is not subject to special limitations, except for those established by postal regulations, in accordance with Agreements with the Italian State, and with those enshrined by International Agreements to which Vatican City State has subscribed.