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Encyclopedia > Italian lira
Italian lira
lira italiana (Italian)
200 lire commemorating Maria Montessori (1980)
2000 lire note with portrait of Guglielmo Marconi 200 lire commemorating Maria Montessori (1980)
ISO 4217 Code ITL
User(s) Italy, San Marino, Vatican City, but not Campione d'Italia
Inflation 2.3% (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Withdrawn 16 September 1992 (Black Wednesday)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
= 1936.27 ₤
Subunit
1/100 centesimo
Subunits are rarely used
Symbol ₤, £ or L
Plural lire
centesimo centesimi
Coins
Freq. 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.

The lira (plural lire) was the currency of Italy between 1861 and 2002. Between 1999 and 2002, the Italian lira was officially a “national subunit” of the euro. However, physical payments could only be made in lira, as no euro coins and notes were available. Image File history File links 2000_Lire_Italy. ... Image File history File links Italia_200_lire_Montessori. ... Guglielmo Marconi, Marchese, GCVO (25 April 1874-20 July 1937) was an Italian inventor, best known for his development of a radiotelegraph system, which served as the foundation for the establishment of numerous affiliated companies worldwide. ... Maria Montessori (August 31, 1870 – May 6, 1952) was an Italian physician, educator, philosopher, humanitarian and devout Catholic; she is best known for her philosophy and method of education of children from birth to adolescence. ... Map showing the location of the Campione enclave near the center. ...  Eurozone countries  ERM II countries  other EU countries  unilaterally adopted euro 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), to reduce exchange rate variability and achieve monetary stability in Europe, in preparation for... is the 72nd day of the year (73rd in leap years) in the Gregorian calendar. ... Also: 1979 by Smashing Pumpkins. ... is the 329th day of the year (330th in leap years) in the Gregorian calendar. ... Year 1996 (MCMXCVI) was a leap year starting on Monday (link will display full 1996 Gregorian calendar). ... // 1400 - Owain Glyndŵr 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 September 16, 1992 when the government was forced to withdraw the Pound from the European Exchange Rate Mechanism (ERM) by currency speculators—most notably George Soros who earned over US$1 billion in doing so. ... is the 365th day of the year (366th in leap years) in the Gregorian calendar. ... Year 1998 (MCMXCVIII) was a common year starting on Thursday (link will display full 1998 Gregorian calendar). ... is the 1st day of the year in the Gregorian calendar. ... This article is about the year. ... is the 1st day of the year in the Gregorian calendar. ... Also see: 2002 (number). ... “EUR” redirects here. ... Centesimo (plural centesimi) is an Italian word derived from the Latin centesimus meaning hundredth. It was one hundredth of currencies named lira. ... Look up Plural in Wiktionary, the free dictionary 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. It was one hundredth of currencies named lira. ... Headquarters Rome Established 1893 Governor Mario Draghi Central Bank of Italy Website bancaditalia. ... The word printer is used to describe a company that provides commercial printing services, involving typesetting, printing and book-binding. ... The Istituto Poligrafico e Zecca dello Stato is the mint of the Italian Republic. ... A mint is a facility which manufactures coins for currency. ... The Istituto Poligrafico e Zecca dello Stato is the mint of the Italian Republic. ... “EUR” redirects here. ...


The lira was also the currency of the Napoleonic Kingdom of Italy between 1807 and 1814. The flag of the Kingdom of Italy was a rectangular version of the flag of the Italian Republic, with Napoleons emblem on the green field. ...


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, the words lira and pound are used as equivalents. "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". The pound (abbreviations: lb or, sometimes in the United States, #) is a unit of mass (called weight in everyday parlance) in a number of different systems, including English units, Imperial units, and United States customary units. ... Latin is an ancient Indo-European language originally spoken in Latium, the region immediately surrounding Rome. ... General Name, Symbol, Number silver, Ag, 47 Chemical series transition metals Group, Period, Block 11, 5, d Appearance lustrous white metal Standard atomic weight 107. ... The pound, a unit of currency, originated (at least in Britain) as the value of a pound mass of silver. ...

Contents

History

The lira ultimately dates back to Charlemagne. Like the pound sterling, it represented one pound weight of silver, and was equal to 20 soldi or 240 denari. Before unification, many of the Italian states used the lira as their currency. Charlemagne and Pippin the Hunchback. ... “GBP” redirects here. ...

40 lire coin of the Napoleonic Kingdom of Italy.
40 lire coin of the Napoleonic Kingdom of Italy.

In 1807, the Napoleonic Kingdom of Italy (occupying the north of the current state) introduced the lira as its currency. Equal to the French franc, it was divided into 20 soldi or 100 centesimi. This lira circulated until 1814 when the kingdom was divided up into smaller states. Image File history File links 40 lire coin (1812) of the Regno dItalia From Numismatica e Monete Italiane File links The following pages link to this file: Kingdom of Italy (Napoleonic) ... Image File history File links 40 lire coin (1812) of the Regno dItalia From Numismatica e Monete Italiane File links The following pages link to this file: Kingdom of Italy (Napoleonic) ... The flag of the Kingdom of Italy was a rectangular version of the flag of the Italian Republic, with Napoleons emblem on the green field. ... Year 1807 (MDCCCVII) was a common year starting on Thursday (link will display the full calendar). ... The flag of the Kingdom of Italy was a rectangular version of the flag of the Italian Republic, with Napoleons emblem on the green field. ... ISO 4217 Code FRF User(s) Monaco, Andorra, France except New Caledonia, French Polynesia, and Wallis and Futuna ERM Since 13 March 1979 Fixed rate since 31 December 1998 Replaced by €, non cash 1 January 1999 Replaced by €, cash 1 January 2002 € = 6. ... Year 1814 (MDCCCXIV) was a common year starting on Saturday (link will display the full calendar). ...

1 Italian lira 1865
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 4.5 grams of silver or 290.322 milligrams of gold. This was a direct continuation of the Sardinian lira. 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. 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. 1 lira 1863 front File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... 1 lira Italian coin (1863) File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ... King Victor Emmanuel II of Italy Victor Emmanuel II (Italian: Vittorio Emanuele II; March 14, 1820—January 9, 1878) was the King of Piedmont, Savoy and Sardinia from 1849–1861, and King of Italy from 1861 until his death in 1878. ... The House of Savoy or in Italian, La Casa di Savoia, or simply Casa Savoia, (or Savoie, French) is a dynasty of nobles who traditionally had their domain in Savoy, a region that includes present-day Piemonte, other parts of Northern Italy, and a smaller region in France. ... King Victor Emmanuel II of Italy Victor Emmanuel II (Italian: Vittorio Emanuele II; March 14, 1820—January 9, 1878) was the King of Piedmont, Savoy and Sardinia from 1849–1861, and King of Italy from 1861 until his death in 1878. ... 1861 (MDCCCLXI) was a common year starting on Tuesday (link with display the full calendar) of the Gregorian calendar (or a common year starting on Thursday of the Julian calendar) // January 1 - Benito Juárez captures Mexico City January 2 - Friedrich Wilhelm IV of Prussia dies and is succeeded by... The lira (plural lire) was the currency of the Kingdom of Sardinia until 1861. ... The florin was the currency of Lombardy-Venetia between 1857 and 1866. ... The piastra was the currency of the Two Sicilies until 1860. ... The fiorino was the currency of Tuscany between 1826 and 1859. ... The scudo was the currency of the Papal States until 1866. ... The lira was the currency of Parma before 1802 and again from 1815. ... The Latin Monetary Union (LMU) was a 19th century attempt to unify several European currencies into a single currency that could be used in all the member states, at a time when most national currencies were still made out of gold and silver. ... ISO 4217 Code CHF User(s) Switzerland, Liechtenstein, Campione dItalia Inflation 1. ...


World War I broke the Latin Monetary Union and resulted in prices rising severalfold in Italy. 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 1927, the lira was pegged to the U.S. dollar at a rate of 1 dollar = 19 lire. 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. “The Great War ” redirects here. ... Benito Amilcare Andrea Mussolini (July 29, 1883 – April 28, 1945) was the prime minister of Italy from 1922 until 1943, when he was overthrown. ... is the 230th day of the year (231st in leap years) in the Gregorian calendar. ... Year 1926 (MCMXXVI) was a common year starting on Friday (link will display the full calendar) of the Gregorian calendar. ... The Quota 90 (Italian: Quota novanta) was a controversial revaluation of the lira undertaken by Mussolini, announced on August 18, 1926 at a speech in Pesaro, pegging the exchange rate to 92. ... The United States dollar is the official currency of the United States. ...


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. In German occupied areas, the exchange rate was set at 1 Reichsmark = 10 lire. 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. 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. For details of notes and coins, see British coinage and British banknotes. ... User(s) Germany Subunit 1/100 Reichspfennig Symbol RM Reichspfennig Rpf. ... Wikipedia does not have an article with this exact name. ...


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). Old lira denominated currency ceased to be legal tender on February 28, 2002. 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. is the 1st day of the year in the Gregorian calendar. ... This article is about the year. ... “EUR” redirects here. ... February 28 is the 59th day of the year in the Gregorian calendar. ... Also see: 2002 (number). ... is the 60th day of the year in the Gregorian calendar. ... 2012 (MMXII) will be a leap year starting on Sunday of the Gregorian calendar. ...


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. For other uses, see Napoleon (disambiguation). ...


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. 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. Florence (Italian: ) is the capital city of the region of Tuscany, Italy. ... For other uses, see Milan (disambiguation). ... For other uses see, Naples (disambiguation) and Napoli (disambiguation) Location of the city of Naples (red dot) within Italy. ... “Torino” redirects here. ... Nickname: Motto: SPQR: Senatus Populusque Romanus Location of the city of Rome (yellow) within the Province of Rome (red) and region of Lazio (grey) Coordinates: Region Lazio Province Province of Rome Founded 21 April 753 BC Government  - Mayor Walter Veltroni Area  - City 1,285 km²  (580 sq mi)  - Urban 5...


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. Ypres, 1917, in the vicinity of the Battle of Passchendaele. ...


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. In 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. It was also the first to feature the value in braille.[1] The 1 euro coin is bi-metallic: the inner part of cupronickel, the outer part of nickel brass Bi-metallic coins are coins consisting of more than one metal or alloy, generally arranged with an outer ring around a contrasting center. ... The Zecca (Italian: Istituto Poligrafico e Zecca dello Stato) is a historical papal mint located in Vatican City. ... Braille code where the word (, French for first) can be read. ...


Large volume production of the 1 and 2 lire coins ceased in the early 1980s, followed by the 5, 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. In 1997, a 1000 lire coin was introduced. This was also bimetallic.


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

  • 1 lira (0.05 cent; only minted for collection purposes)
  • 2 lire (0.10 cent; only minted for collection purposes)
  • 5 lire (0.26 cent; only minted for collection purposes)
  • 10 lire (0.52 cent; rarely used)
  • 20 lire (1.03 cent; rarely used)
  • 50 lire (2.58 cent)
  • 100 lire (5.16 cent)
  • 200 lire (10.33 cent)
  • 500 lire (25.82 cent)
  • 1000 lire (51.65 cent)

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. 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. Headquarters Rome Established 1893 Governor Mario Draghi Central Bank of Italy Website bancaditalia. ... Mushroom cloud from the nuclear explosion over Nagasaki rising 18 km into the air. ...


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:

Maria Montessori (August 31, 1870 – May 6, 1952) was an Italian physician, educator, philosopher, humanitarian and devout Catholic; she is best known for her philosophy and method of education of children from birth to adolescence. ... Guglielmo Marconi, Marchese, GCVO (25 April 1874-20 July 1937) was an Italian inventor, best known for his development of a radiotelegraph system, which served as the foundation for the establishment of numerous affiliated companies worldwide. ... Vincenzo Bellini Vincenzo Salvatore Carmelo Francesco Bellini (November 3, 1801 – September 23, 1835) was an Italian opera composer. ... Count Alessandro Giuseppe Antonio Anastasio Volta (February 18, 1745 - March 5, 1827) was an Italian physicist known especially for the development of the electric battery in 1800. ... Giovanni Lorenzo Bernini (Giovanni Lorenzo Bernini; December 7, 1598 – November 28, 1680) was a pre-eminent Baroque sculptor and architect of 17th century Rome. ... For other uses, see Caravaggio (disambiguation). ... This page is about the artist. ...

Currencies formerly related to the Italian lira

Vatican City

The Vatican lira (plural lire) was the official unit of the Vatican City State. 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 lira (plural lire) was the official unit of the Vatican City State. ...


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 Euro coins minted under the authority of the Holy See. ... The euro (EUR or €) is the currency of 13 European Union (EU) member states (Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, and Spain), three European microstates which have currency agreements with the EU (Monaco, San Marino and the Vatican City State), Andorra, Montenegro and the...


San Marino

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


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. ... The euro (EUR or €) is the currency of 13 European Union (EU) member states (Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Slovenia, and Spain), three European microstates which have currency agreements with the EU (Monaco, San Marino and the Vatican City State), Andorra, Montenegro and the...


See also

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 Italys renowned artists. ... The Economy of Italy has changed hugely since the end of World War II. From an agriculturally based economy, it has developed into an industrial country ranked as the worlds sixth-largest economy in USD exchange-rate terms and seventh largest in terms of purchasing power parity (PPP). ... Economy - overview: In San Marino the tourist sector contributes over 50% of gross domestic product. ... Overview The unique, noncommercial economy of the Vatican City is supported financially by contributions (known as Peters Pence) from Roman Catholics throughout the world, the sale of postage stamps and tourist mementos, fees for admission to museums, and the sale of publications. ...

Reference

  1. ^ Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801-1991, 18th ed., 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.

  Results from FactBites:
 
Lira (84 words)
Lira is the name of the monetary unit of a number of countries.
The Italian lira (plural lire) was the official unit of currency in Italy until January 1, 2002, when it was replaced by the euro, and it ceased to be legal tender on February 28 of that year.
The Turkish currency, also called the lira, is often referred to as the "Turkish lira" outside Turkey, to avoid confusion with the better-known Italian money.
Lira (940 words)
Lira is the name of the monetary unit of a number of countries, as well as the former currency of Italy, San Marino and the Vatican City.
It was on par to the italian lira on the terms on the concordat with Italy.
It was on par to the italian lira.
  More results at FactBites »

 
 

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