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Italian lira
lira italiana (Italian)
2000 lira note with portrait of Guglielmo Marconi 200 lire commemorating Maria Montessori (1980)
2000 lira note with portrait of Guglielmo Marconi 200 lire commemorating Maria Montessori (1980)
ISO 4217 Code ITL
User(s) Flag of Italy Italy, Flag of San Marino San Marino, Flag of the Vatican City Vatican City, but not Campione d'Italia
Inflation 2. Marchese Guglielmo Marconi mar'koni (25 April 1874 – 20 July 1937 was an Italian inventor best known for his development of a Radiotelegraph system Maria Montessori ( August 31 1870 &ndash May 6 1952) was an Italian physician educator philosopher humanitarian and devout ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established Italy (Italia officially the Italian Republic, (Repubblica Italiana is located on the Italian Peninsula in Southern Europe, and on the two largest The Most Serene Republic of San Marino (Serenissima Repubblica di San Marino is a country in the Apennine Mountains. Vatican City, officially the State of the Vatican City (Stato della Città del Vaticano is a Landlocked sovereign City-state whose territory Campione redirects here For the football song see Campione 2000 Campione d'Italia is an Italian Comune (municipality In economics inflation or price inflation is a rise in the general level of prices of goods and services over a period of time 3% (2001)
Source worldwide-tax. com
ERM
Since 13 March 1979, 25 November 1996
Withdrawn 16 September 1992 (Black Wednesday)
Fixed rate since 31 December 1998
Replaced by €, non cash 1 January 1999
Replaced by €, cash 1 January 2002
€ = 1936. The European Exchange Rate Mechanism, ERM, was a system introduced by the European Community in March 1979 as part of the European Monetary System (EMS Events 1138 - Cardinal Gregorio Conti is elected Antipope as Victor IV, succeeding Anacletus II. Year 1979 ( MCMLXXIX) was a Common year starting on Monday (link displays the 1979 Gregorian calendar) Events 1034 - Máel Coluim mac Cináeda, King of Scots dies Donnchad, the Year 1996 ( MCMXCVI) was a Leap year starting on Monday (link will display full 1996 Gregorian calendar) Events 1400 - Owain Glyndŵr is declared Prince of Wales by his followers Year 1992 ( MCMXCII) was a Leap year starting on Wednesday (link will display full 1992 Gregorian calendar) In British Politics and Economics, Black Wednesday refers to the events of 16 September 1992 when the Conservative Events 406 – Vandals, Alans and Suebians cross the Rhine, beginning an invasion of Gallia. Year 1998 ( MCMXCVIII) was a Common year starting on Thursday (link will display full 1998 Gregorian calendar) New Year See also New Year The Ancient Romans began their consular year on January 1st since 153 BC Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) New Year See also New Year The Ancient Romans began their consular year on January 1st since 153 BC See also 2002 (disambiguation Year 2002 ( MMII) was a Common year starting on Tuesday of the Gregorian calendar. Please update other articles as well to avoid contradiction within Wikipedia e 27 ₤
Subunit
1/100 centesimo
Subunits are rarely used
Symbol ₤, £ or L
Plural lire
centesimo centesimi
Coins
Freq. Centesimo (plural centesimi is an Italian word derived from the Latin centesimus meaning "hundredth" A currency sign is a graphic symbol often used as a shorthand for a Currency 's name Plural is a Grammatical number, typically referring to more than one of the Referent in the real world Centesimo (plural centesimi is an Italian word derived from the Latin centesimus meaning "hundredth" used 50, 100, 200, 500, 1000 ₤
Rarely used 5, 10, 20 ₤
Banknotes 1000, 2000, 5000, 10 000, 50 000, 100 000, 500 000 ₤
Central bank Banca d'Italia
Website www.bancaditalia.it
Printer Istituto Poligrafico e Zecca dello Stato
Website www.ipzs.it
Mint Istituto Poligrafico e Zecca dello Stato
Website www.ipzs.it
This infobox shows the latest status before this currency was rendered obsolete. A central bank, reserve bank, or monetary authority is the entity responsible for the Monetary policy of a country or of a group of member states Banca d'Italia is the Central bank of Italy and part of the European System of Central Banks. A printer is a company that provides commercial Printing services often also offering Typesetting and Book-binding services The Istituto Poligrafico e Zecca dello Stato is the mint of the Italian Republic. A mint is an industrial facility which manufactures Coins for Currency. The Istituto Poligrafico e Zecca dello Stato is the mint of the Italian Republic.

The lira (plural lire) was the currency of Italy between 1861 and 2002. A currency is a unit of exchange, facilitating the transfer of Goods and/or services It is one form of Money, where money is Italy (Italia officially the Italian Republic, (Repubblica Italiana is located on the Italian Peninsula in Southern Europe, and on the two largest Between 1999 and 2002, the Italian lira was officially a “national subunit” of the euro. Please update other articles as well to avoid contradiction within Wikipedia e However, physical payments could only be made in lire, as no euro coins and notes were available.

The lira was also the currency of the Napoleonic Kingdom of Italy between 1807 and 1814. The Kingdom of Italy ( Italian: Regno d'Italia, but also Regno Italico; 17 March 1805 – 11 April

The term originates from the value of a pound weight (Latin: libra) of high purity silver and as such is a direct cognate of the British pound sterling; in some countries, such as Cyprus and Malta, the words lira and pound were used as equivalents, before the euro was adopted in 2008 in the two countries. The pound or pound-mass (abbreviation lb, lbm, or sometimes in the United States #) is a unit of Mass Latin ( lingua Latīna, laˈtiːna is an Italic language, historically spoken in Latium and Ancient Rome. Silver (ˈsɪlvɚ is a Chemical element with the symbol " Ag " (argentum from the Ancient Greek: ἀργήντος - argēntos gen Cyprus (Κύπρος transliterated: Kýpros,; Kıbrıs officially the Republic of Cyprus (Κυπριακή Δημοκρατία Kypriakī́ Dīmokratía Malta, officially the Republic of Malta (Repubblika ta' Malta is a European Microstate, comprising an Archipelago of three islands The pound, a unit of currency originated in England as the value of a pound mass of Silver. Please update other articles as well to avoid contradiction within Wikipedia e "L", sometimes in a double-crossed script form ("₤"), was usually used as the symbol. It was subdivided into 100 centesimi (singular: centesimo), which translates to "one hundredth".

Contents

History

The lira ultimately dates back to Charlemagne. Charlemagne (ˈʃɑrlɨmeɪn Carolus Magnus or Karolus Magnus meaning Charles the Great) (747 – 28 January 814 was King of the Franks from 768 to his Like the pound sterling, it represented one pound weight of silver, and was equal to 20 soldi or 240 denari. The Pound Sterling ( symbol £; ISO code: GBP) subdivided into 100 pence (singular penny) is the Currency Before unification, many of the Italian states used the lira as their currency.

40 lire coin of the Napoleonic Kingdom of Italy.
40 lire coin of the Napoleonic Kingdom of Italy. The Kingdom of Italy ( Italian: Regno d'Italia, but also Regno Italico; 17 March 1805 – 11 April

In 1807, the Napoleonic Kingdom of Italy (occupying the north of the current state) introduced the lira as its currency. Year 1807 ( MDCCCVII) was a Common year starting on Thursday (link will display the full calendar of the Gregorian calendar (or a Common The Kingdom of Italy ( Italian: Regno d'Italia, but also Regno Italico; 17 March 1805 – 11 April Equal to the French franc, it was divided into 20 soldi or 100 centesimi. The franc (represented by the franc sign ₣ or more commonly just F) is a former Currency of France. This lira circulated until 1814 when the kingdom was divided up into smaller states. Year 1814 ( MDCCCXIV) was a Common year starting on Saturday (link will display the full calendar of the Gregorian calendar (or a Common

1 Italian lira 1865
[[|90px]]
Vittorio Emanuele II Coat of arms of the House of Savoy

Upon the creation of the Kingdom of Italy under Vittorio Emanuele II (1861), a unified lira was established, at 4. Victor Emmanuel II King of Italy ( Vittorio Emanuele II; March 14, 1820 – January 9, 1878) was the King of The House of Savoy (Casa Savoia was formed in the early eleventh century in the historical Savoy region Victor Emmanuel II King of Italy ( Vittorio Emanuele II; March 14, 1820 – January 9, 1878) was the King of Year 1861 ( MDCCCLXI) was a Common year starting on Tuesday (link will display the full calendar of the Gregorian calendar (or a Common 5 grams of silver or 290. 322 milligrams of gold. This was a direct continuation of the Sardinian lira. The lira (plural lire) was the currency of the Kingdom of Sardinia between 1816 and 1861. Other currencies replaced by the Italian lira included the Lombardy-Venetia florin, the Two Sicilies piastra, the Tuscan fiorino, the Papal States scudo and the Parman lira. The florin was the currency of Lombardy-Venetia between 1857 and 1866 The piastra was the currency of the Two Sicilies between 1815 and 1860 The fiorino ( Plural: fiorini) was the Currency of Tuscany between 1826 and 1859. The scudo (plural scudi) was the currency of the Papal States until 1866 The lira ( Plural: lire) was the distinct currency of Parma before 1802 and again from 1815 to 1859 In 1865, Italy formed part of the Latin Monetary Union in which the lira was set as equal to, among others, the French, Belgian and Swiss francs. The Latin Monetary Union ( LMU) was a 19th century attempt to unify several European currencies into a single currency that could be The franc (represented by the franc sign ₣ or more commonly just F) is a former Currency of France. The franc ( Dutch: frank - French: franc - German: Franken) was the currency of Belgium until 2002 when the The franc ( German: Franken, French and Romansh: franc, Italian: franco; code: CHF

World War I broke the Latin Monetary Union and resulted in prices rising severalfold in Italy. World War I (abbreviated WWI; also known as the First World War, the Great War, and the War to End All Inflation was curbed somewhat by Mussolini, who, on August 18, 1926, declared that the exchange rate between lira and pound would be £1 = 90 lire—the so-called Quota 90, although the free exchange rate had been closer to 140-150 lire per pound. In economics inflation or price inflation is a rise in the general level of prices of goods and services over a period of time Events 293 BC - The oldest known Roman temple to Venus is founded starting the institution of Vinalia Rustica. Year 1926 ( MCMXXVI) was a Common year starting on Friday (link will display the full calendar of the Gregorian calendar. The Quota 90 (Quota novanta was a controversial Revaluation of the lira undertaken by Mussolini, announced on August 18 1926 at a speech in Pesaro In 1927, the lira was pegged to the U.S. dollar at a rate of 1 dollar = 19 lire. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been This rate lasted until 1934, with a separate "tourist" rate of US$1 = 24. 89 lire being established in 1936. In 1939, the "official" rate was 19. 8 lire.

After the Allied invasion of Italy, an exchange rate was set at US$1 = 120 lire (1 British pound = 480 lire) in June 1943, reduced to 100 lire the following month. The Pound Sterling ( symbol £; ISO code: GBP) subdivided into 100 pence (singular penny) is the Currency In German occupied areas, the exchange rate was set at 1 Reichsmark = 10 lire. For a detailed discussion of the English translation of Reich, see Reich. After the war, the value of the lira fluctuated, before Italy set a peg of US$1 = 575 lire within the Bretton Woods System in November 1947. The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states Following the devaluation of the pound, Italy devalued to US$1 = 625 lire on 21 September 1949. This rate was maintained until the end of the Bretton Woods System in the early 1970s. Several episodes of high inflation followed until the lira was replaced by the euro.

The lira was the official unit of currency in Italy until January 1, 1999, when it was replaced by the euro (euro coins and notes were not introduced until 2002). Italy (Italia officially the Italian Republic, (Repubblica Italiana is located on the Italian Peninsula in Southern Europe, and on the two largest New Year See also New Year The Ancient Romans began their consular year on January 1st since 153 BC Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) Please update other articles as well to avoid contradiction within Wikipedia e Old lira denominated currency ceased to be legal tender on February 28, 2002. Events 202 BC - coronation ceremony of Liu Bang as Emperor Gaozu of Han takes place initiating four centuries of the Han Dynasty 's rule See also 2002 (disambiguation Year 2002 ( MMII) was a Common year starting on Tuesday of the Gregorian calendar. The conversion rate is 1936. 27 lire to the euro. [1] All lira banknotes in use immediately before the introduction of the euro, as all post WW2 coins, are still exchangeable for euros in all branches of the Bank of Italy until February 29, 2012. Leap years Although the modern calendar counts a year as 365 days a complete revolution around the sun takes approximately 365 days and 6 hours 2012 ( MMXII) will be a Leap year starting on Sunday of the Gregorian calendar.

Redenomination

Although Italian banknotes became unwieldy because of the large number of zeros, efforts at redenomination were unsuccessful for political reasons until introduction of the euro which had the effect of lopping off excessive zeros. Denomination is a proper description of a Currency amount usually for Coins or Banknotes Denominations may also be used with other means of payment like Please update other articles as well to avoid contradiction within Wikipedia e

Coins

Napoleonic Coins

The Napoleonic Kingdom of Italy issued coins between 1807 and 1813 in denominations of 1 and 3 centesimi and 1 soldo in copper, 10 centesimi in 20% silver alloy, 5, 10 and 15 soldi, 1, 2 and 5 lire in 90% silver and 20 and 40 lire in 90% gold. All except the 10 centesimi bore a portrait of Napoleon, with the denominations below 1 lira also showing a radiate crown and the higher denominations, a shield representing the various constituent territories of the Kingdom. Napoleon Bonaparte (15 August 1769 – 5 May 1821 was a French military and political leader who had a significant impact on the History of Europe.

Kingdom of Italy, 1861-1946

In 1861, coins were minted in Florence, Milan, Naples and Turin in denominations of 1, 2, 5, 10 and 50 centesimi, 1, 2, 5, 10 and 20 lire, with the lowest four in copper, the highest two in gold and the remainder in silver. Florence ( Italian: Firenze Florentia and Fiorenza) is the Capital City of the Italian region of Tuscany Milan (Milano Milan (listen) is one of the largest cities in Italy, located in the plains of Lombardy. Naples ( Napoli, Neapolitan: Nàpule) is a historic City in southern Italy, the Capital of the In 1863, silver coins below 5 lire were debased from 90% to 83. 5% and silver 20 centesimi coins were introduced. Minting switched to Rome in the 1870s. Rome ( Roma ˈroma Roma is the capital city of Italy and Lazio, and is Italy's largest and most populous city with more than 2

Apart from the introduction in 1894 of cupro-nickel (later nickel) 20 centesimi coins and of nickel 25 centesimi pieces in 1902, the coinage remained essentially unaltered until the First World War. World War I (abbreviated WWI; also known as the First World War, the Great War, and the War to End All

In 1919, with production of all earlier coin types except for the nickel 20 centesimi halted, smaller, copper 5 and 10 centesimi and nickel 50 centesimi coins were introduced, followed by nickel 1 and 2 lire pieces in 1922 and 1923, respectively. In 1926, silver 5 and 10 lire coins were introduced, equal in size and composition to the earlier 1 and 2 lire coins. Silver 20 lire coins were added in 1927.

In 1936, the last substantial issue of silver coins was made, whilst, in 1939, moves to reduce the cost of the coinage lead to copper being replaced by aluminium bronze and nickel by stainless steel. All issuance of coinage came to a halt in 1943.

Republic, 1946-

In 1946, coin production was resumed, although only in 1948 did numbers minted exceed 1 million. To begin with, four denominations were issued in aluminium, 1, 2, 5 and 10 lire. Between 1951-1953, the sizes of these four coins were reduced and in 1954-1955, stainless-steel 50 and 100 lire coins were introduced, followed by aluminium-bronze 20 lire in 1957 and silver 500 lire in 1958. Rises in the silver bullion price lead to the 500 lire coins being produced only in small numbers for collectors after 1967.

In 1977, aluminium-bronze 200 lire coins were introduced, followed in 1982 by the bi-metallic 500 lire. This was the first bi-metallic coin to be produced for circulation, minted using a system patented by IPZS. Bi-metallic coins are Coins consisting of more than one Metal or Alloy, generally arranged with an outer ring around a contrasting center The Istituto Poligrafico e Zecca dello Stato is the mint of the Italian Republic. It was also the first to feature the value in braille. The Braille system is a method that is widely used by blind people to read and write [1]

Large volume production of the 1 and 2 lire coins ceased in 1959, followed by the 5 in 1997 and by 10 and 20 lire in the late 1980s and early 1990s. The sizes of the 50 and 100 lire coins were reduced to reflect their lower value in 1990 but were then increased somewhat in 1993. A bimetallic 1000 lire coin was introduced in 1997.

Coins still minted at the time of the changeover to euro were [2]

Banknotes

In 1882, the government began issuing small value paper money bearing the title "Biglietto di Stato". To begin with, there were 5 and 10 lire notes, to which 25 lire notes were occasionally added from 1895. The government also issued notes titled "Buono di Cassa" between 1893 and 1922 in denominations of 1 and 2 lire. Production of Biglietto di Stato ceased in 1925 but resumed in 1935 with notes for 1, 2, 5 and 10 lire being introduced by 1939.

The Bank of Italy began producing paper money in 1896. Banca d'Italia is the Central bank of Italy and part of the European System of Central Banks. To begin with, 50, 100, 500 and 1000 lire notes were issued. In 1918-1919, 25 lire notes were also issued but no other denominations were introduced until after the Second World War. World War II, or the Second World War, (often abbreviated WWII) was a global military conflict which involved a majority of the world's nations, including

In 1943, the invading Allies introduced notes in denominations of 1, 2, 5, 10, 50, 100, 500 and 1000 lire. These were followed in 1944 by a series of Biglietto di Stato for 1, 2, 5 and 10 lire, which circulated until replaced by coins in the late 1940s. In 1945, the Bank of Italy introduced 5000 and 10,000 lire notes.

In 1951, the government again issued notes, this time simply bearing the title "Republica Italiana". Denominations were of 50 and 100 lire (replacing the Bank of Italy notes) and they circulated until coins of these denominations were introduced in the mid 1950s. In 1966, 500 lire notes were introduced (again replacing Bank of Italy notes) which were produced until replaced in 1982 by a coin.

In 1967, 50,000 and 100,000 lire notes were introduced by the Bank of Italy, followed by 20,000 lire in 1975 and 500,000 lire in 1997.

Notes in circulation when the euro was introduced were:

Gallery

1000 lire - Obverse and Reverse

2000 lire - Obverse and Reverse

5000 lire - Obverse and Reverse

10000 lire - Obverse and Reverse

50000 lire - Obverse and Reverse

100000 lire - Obverse and Reverse

500000 lire - Obverse and Reverse

Currencies formerly related to the Italian lira

Vatican City

The Vatican lira (plural lire) was the official unit of the Vatican City State. The lira (plural lire) was the Currency of the Vatican City between 1929 and 2002 It was on par to the Italian lira on the terms on the concordat with Italy. Italian lira notes and coins were legal tender throughout the Vatican City State. Specific Vatican coins were minted in Rome, being legal tender also in Italy and San Marino.

The Vatican City state has switched to the euro like Italy. As with old vatican lira coins, the Vatican City has its own set of euro coins. Vatican euro coins are issued by the Philatelic and Numismatic Office of the Vatican City State and minted by Istituto Poligrafico e Zecca dello Stato (IPZS in Rome Italy Linguistic

San Marino

The Sammarinese lira (plural lire) was the official unit of San Marino. The lira (plural lire) was the currency of San Marino from the 1860s until the introduction of the Euro in 2002 It was on par to the Italian lira.

Italian lira notes and coins were legal tender in San Marino, but specific San Marinese coins were minted in Rome, being legal tender in Italy, as well as the Vatican City.

San Marino has switched to the euro like Italy. As with old San Marino lira coins, this country has its own set of euro coins. Sammarinese euro coins feature separate designs for every coin Linguistic

See also

References

  1. ^ Krause, Chester L. Italian euro coins have a design unique to each denomination though there is a common theme of famous Italian works of art from one of Italy 's renowned artists The economy of Italy has changed dramatically since the end of World War II. Economy - overview In San Marino the tourist sector contributes over 50% of Gross domestic product. The unique noncommercial economy of Vatican City is supported financially by contributions (known as Peter's Pence) from Roman Catholics throughout the and Clifford Mishler (1991). Standard Catalog of World Coins: 1801-1991, 18th ed. The Standard Catalog of World Coins is a series of numismatic Catalogs commonly known as the Krause catalogs in the Numismatic hobby , Krause Publications. ISBN 0-87341-150-1.  

External links

Preceded by
Sardinian lira
Lombardy-Venetia florin
Two Sicilies piastra
Tuscan fiorino
Papal States scudo
Parman lira		 Italian currency
1861-19991		 Succeeded by
Euro
  1. ^  1999 by law, 2002 de facto. The lira (plural lire) was the currency of the Kingdom of Sardinia between 1816 and 1861. The florin was the currency of Lombardy-Venetia between 1857 and 1866 The piastra was the currency of the Two Sicilies between 1815 and 1860 The fiorino ( Plural: fiorini) was the Currency of Tuscany between 1826 and 1859. The scudo (plural scudi) was the currency of the Papal States until 1866 The lira ( Plural: lire) was the distinct currency of Parma before 1802 and again from 1815 to 1859 Italy (Italia officially the Italian Republic, (Repubblica Italiana is located on the Italian Peninsula in Southern Europe, and on the two largest Year 1861 ( MDCCCLXI) was a Common year starting on Tuesday (link will display the full calendar of the Gregorian calendar (or a Common Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) Please update other articles as well to avoid contradiction within Wikipedia e
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