Seborga luigino
Encyclopedia
The Seborga luigino is the local currency
of the micronation
of Seborga
. Its subunit is the centesimo which is valued at 1/100. It was issued between 1994 and 1996. It is circulated alongside the Lira
. It is recognised by the regional bank but it has no value outside Seborga.
of the Seborga luigino is pegged to the USD
at 1 luigino : US$ 6.00. That would make it the world's highest-valued currency unit if it were considered an official currency.
Local currency
In economics, a local currency, in its common usage, is a currency not backed by a national government , and intended to trade only in a small area. As a tool of fiscal localism, local moneys can raise awareness of the state of the local economy, especially among those who may be unfamiliar or...
of the micronation
Micronation
Micronations, sometimes also referred to as model countries and new country projects, are entities that claim to be independent nations or states but which are not recognized by world governments or major international organizations...
of Seborga
Principality of Seborga
The Principality of Seborga is a micronation located in the northwestern Italian Province of Imperia in Liguria, near the French border, and in sight of Monaco....
. Its subunit is the centesimo which is valued at 1/100. It was issued between 1994 and 1996. It is circulated alongside the Lira
Lira
Lira is the name of the monetary unit of a number of countries, as well as the former currency of Italy, Malta, San Marino and the Vatican City and Israel. The term originates from the value of a Troy pound of high purity silver. The libra was the basis of the monetary system of the Roman Empire...
. It is recognised by the regional bank but it has no value outside Seborga.
The value
The valueValue (economics)
An economic value is the worth of a good or service as determined by the market.The economic value of a good or service has puzzled economists since the beginning of the discipline. First, economists tried to estimate the value of a good to an individual alone, and extend that definition to goods...
of the Seborga luigino is pegged to the USD
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
at 1 luigino : US$ 6.00. That would make it the world's highest-valued currency unit if it were considered an official currency.
Coins
Coins were issued in values of 5 centesimi, 15 centesimi, 1/2 Luigino (50 centesimi), 1 Luigino, and 7 Luigino. No banknotes were issued.External links
- 1 Luigino (Hungarian Wikipedia)