Vatican lira

Last updated
Vatican lira
lira vaticana (Italian)
VAL
500 Lir Vatican City.jpg
500 Lire
ISO 4217
CodeITL
Unit
Plurallire
Symbol None official, see Italian lira
Denominations
Subunit
1100 centesimo
Subunits were abolished after WWII
Plural
centesimo centesimi (c.)
BanknotesItalian lira banknotes
Coins
Freq. used50, 100, 200, 500, 1,000 Lire
Rarely used1 Lira, 2, 5, 10, 20 Lire
Demographics
User(s)None, previously:
Flag of the Vatican City (2023-present).svg  Vatican City
Flag of Italy.svg  Italy
Flag of San Marino.svg  San Marino
Issuance
Central bank Banca d'Italia
Website www.bancaditalia.it
Valuation
EU Exchange Rate Mechanism (ERM)
Since13 March 1979, 25 November 1996 [lower-alpha 1]
Withdrawn16 September 1992 (Black Wednesday)
Fixed rate since31 December 1998
Replaced by euro, non cash1 January 1999
Replaced by euro, cash1 January 2002
1  =1,936.27 Lire
This infobox shows the latest status before this currency was rendered obsolete.
  1. Indirectly (1:1 peg to ITL).

The lira (plural lire; abbreviation: VAL) was the currency of the Vatican City between 1929 and 2002. It was not a separate currency but an issue of the Italian lira; the Banca d'Italia produced coins specifically for Vatican City.

Contents

History

The Papal States, by the late 1860s, was reduced to a small area close to Rome, used its own lira between 1866 and 1870 as a member of the Latin Monetary Union. Upon the conclusion of the Risorgimento, the state, and its currency, ceased to exist. In 1929, the Lateran Treaty established the State of the Vatican City and, according to the terms of the treaty, a distinct coinage was introduced, denominated in centesimi and lire, on par with the Italian lira. Italian coins and banknotes were legal tender in the Vatican City. The Vatican coins were minted in Rome and were also legal tender in Italy and San Marino.

In 2002, the Vatican City switched to the euro at an exchange rate of 1 euro = 1,936.27 Lire. It has its own set of euro coins.

Coins

The development of Vatican coins largely mirrored the development of the Italian lire coins.

In 1929, copper c.5 and c.10, nickel c.20 and c.50, 1 Lira and 2 Lire, silver 5 Lire and 10 Lire, and gold 100 Lire coins were introduced. In 1936, the gold content of 100 Lire coins was decreased from 0.2546 to 0.1502 troy ounces (from 7.92 to 4.67 grams). [1] In 1939, aluminium bronze replaced copper and, in 1940, stainless steel replaced nickel. Between 1941 and 1943, production of the various denominations was reduced to only a few thousand per year.

In 1947, a new coinage was introduced consisting of aluminium 1 Lira, 2 Lire, 5 Lire and 10 Lire. The sizes of these coins were reduced in 1951. In 1955, stainless steel 50 Lire and 100 Lire were introduced, followed by aluminium-bronze 20 Lire in 1957 and silver 500 Lire in 1958. The 1 Lira and 2 Lire ceased production in 1977, followed by the 5 Lire in 1978. Aluminium-bronze 200 Lire were introduced in 1978, followed by bi-metallic 500 Lire and 1,000 Lire in 1985 and 1997, respectively. The 50 Lire and 100 Lire were reduced in size in 1992.

Beginning in 1967, the Vatican began issuing coins using Roman numerals for the year of issue, as opposed to the more common Arabic numerals.

Vatican lire coins were discontinued after the advent of the euro.

Vatican City has frequently issued its coins in yearly changing commemorative series, featuring a wide variety of themes. While most of these were sold in the form of uncirculated mint sets, a portion of Vatican coins were released into general circulation.

Officially "unissued" coins of 1938

There was no official release of coins this year, and they do not appear in the Mint of Rome's records. However, a very small number of copper coins have appeared on the market.

There are two versions explaining the origin of these coins. The first version suggests that by the time of Pope Pius XI's death on February 10, 1939, Vatican City had only minted coins of 1937, although dies for the 1938 100 lire gold, 10 centesimo copper, and 5 centesimo copper had already been made. From each of these prepared dies, one example in the normal metal was struck for the King of Italy, Vittorio Emanuele III of Savoy. [2]

The second version suggests that the minted quantity of copper coins for 1938 was destroyed due to the Pope's death, but several copies were purposefully conserved for the King of Italy's collection. [3] This version is more likely, as the machines of that era required multiple cycles and the loading of numerous planchets in order to manufacture coins.

Both versions imply that the coins were conserved or minted for the King of Italy, who was an enthusiastic coin collector. The king collected coins for 60 years and kept them in Forte Antenna, a Roman refuge. During World War II, in anticipation of the offensive of the Allied Expeditionary Forces led by Dwight D. Eisenhower, the boxes of coins were transported at the sovereign's will to Pollenzo, a safer royal residence in Piedmont. However, in September 1943, the proclamation of the Italian Social Republic caused the royal government to lose control over the assets in the North, resulting in a long period of movement and thefts of the collection. Wehrmacht troops decided to move the collection to Germany. The crates were transported to Munich on German trucks. Mussolini was worried about the news of the "theft" of the coins and requested their return from Adolf Hitler himself. The collection was returned to Italy in early January 1944, but many boxes were opened, damaged, and some almost empty. [4] The Italian Police Headquarters officially announced that German soldiers carried out the break-in. It is possible that soldiers used the coins stolen from the collection to buy alcohol or ice cream, which resulted in the coins being circulated.

Until recently, only seven coins of 10 centesimi Vatican City in 1938 have been graded and certified, and most show signs of circulation. And now, almost 85 years later, a coin was received at the PCGS office in Los Angeles, which achieved a grade of MS65BN ( a coin that never has been in circulation and has an attractive luster) .

This coin is a rare and valuable piece of numismatic history.

Circulating coins from Pius XI to Pius XII papacies (1929–1958)

ImageValueTechnical ParametersDescription
ObverseReverseDiameterMassCompositionObverseReverseYears of IssuePapacy
1931 Vatican City 5 Centesimi.png
1931 Vatican City 5 Centesimi.png
5 Centesimi20mm3.25 grams 95% Copper Crowned ShieldOlive Branch1929–1937Pius XI
2.95 grams Bronzital 1939–1941Pius XII
2.95 gramsBust of Pius XIIDove1942–1946
1931 Vatican City 10 Centesimi.png
1931 Vatican City 10 Centesimi.png
10 Centesimi22mm5.4 grams 95% Copper Crowned ShieldBust of St. Peter 1929–1937Pius XI
4.9 grams Bronzital 1939–1941Pius XII
4.9 gramsBust of Pius XIIDove1942–1946
1931 Vatican City 20 Centesimi.png
1931 Vatican City 20 Centesimi.png
20 Centesimi21mm4.1 gramsNickelCrowned ArmsBust of St. Paul 1929–1937Pius XI
20 Centesimi - Citta del Vaticano - 1940.png
20 Centesimi - Citta del Vaticano - 1940.png
1939–1941Pius XII
4 grams Acmonital Crowned ShieldJustice with law tabets1942–1946
50 Centesimi24mm6 gramsNickelCrowned Arms Saint Michael 1929–1937Pius XI
1939–1941Pius XII
6 gramsStainless SteelCrowned ShieldJustice with law tabets1942–1946
1 Lira27mm8.1 gramsNickelCrowned Arms St. Mary standing atop globe1929–1937Pius XI
26.65mm7.86 grams Acmonital Crowned Arms1940–1941Pius XII
Justice with law tabets1942–1946
1.25 grams Italma 1947–1949
Holy Door 1950
1953 Vatican City 1 lira.png
1953 Vatican City 1 lira.png
17mm0.6200 gramsTemperance standing pouring libation in bowl1951–1956
2 Lire29mm10 gramsNickelCrowned ArmsLamb on shepard's shoulders1929–1937Pius XI
1939Pius XII
10.2 gramsStainless SteelCrowned ArmsLamb on shepard's shoulders1940–1941
Crowned ShieldJustice with law tabets1942–1946
24mm1.75 gramsAluminum1947–1949
Pius XII bustDove and St. Peter's Basilica Dome1950
18mmCrowned ShieldFortitude standing with lion at feet1951–1958
5 Lire23mm5 grams0.8350 SilverBust of Pius XISt. Peter in a boat1929–1937Pius XI
Arms of Cardinal Eugenio Dove within half sun1939 Sede Vacante
Vatican City 1939 5 lire.png
Vatican City 1939 5 lire.png
Bust of Pius XIISt. Peter in a boat1939–1941Pius XII
Caritas figure with children1942–1946
26.5mm2.5 gramsAluminumBust of Pius XII1947–1949
Pope with staff within Holy Door1950
5 Lire - Citta del Vaticano 03.jpg 5 Lire - Citta del Vaticano 02.jpg 20mm1 gramJustice standing with sword and scales1951–1958
10 Lire27mm10 grams0.8350 SilverBust of Pius XISt. Mary holding infant1929–1937Pius XI
Arms of Cardinal EugenioDove within half sun1939Sede Vacante
Bust of Pius XIISt. Mary holding infant1939–1941Pius XII
Caritas figure with children1942–1946
29mm3 gramsAluminum1947–1949
1950 Vatican City 10 lire.png
1950 Vatican City 10 lire.png
Pope with staff within Holy Door1950
1951 Vatican City 10 lire.png
1951 Vatican City 10 lire.png
23mm1 gramPrudence standing1951–1958
20 Lire21.25mm3.600 gramsAluminum-BronzeCaritas figure with children1957
21.25mm5.600 grams1958
50 Lire24.8mm6.200 gramsStainless SteelSpes standing with large anchor1955–1958
1931 Pius XI.jpg
1931 Pius XI.jpg
100 Lire23.5mm8.8 grams0.9000 GoldBust of Pius XIJesus with child at feet1929–1935Pius XI
20.5mm5.19 grams1936–1938
Bust of Pius XII1939–1941Pius XII
1948 100 Lire Vatikan.jpg
1948 100 Lire Vatikan.jpg
Caritas figure with children1942–1949
Crowned Pius XIIOpening of Holy Door1950
Bust of Pius XIICaritas figure with children1951–1956
Crowned Shield1957–1958
27.75mm8.000 gramsStainless SteelFides with large cross1955–1958
500 Lire29mm11.000 grams0.8350 SilverCrowned Shield1958

See also

Related Research Articles

<span class="mw-page-title-main">Coin</span> Small, flat and usually round piece of material used as money

A coin is a small object, usually round and flat, used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by a government. Coins often have images, numerals, or text on them. The faces of coins or medals are sometimes called the obverse and the reverse, referring to the front and back sides, respectively. The obverse of a coin is commonly called heads, because it often depicts the head of a prominent person, and the reverse is known as tails.

<span class="mw-page-title-main">Bhutanese ngultrum</span> Currency of Bhutan

The ngultrum is the currency of the Kingdom of Bhutan. It can be literally translated as 'silver' for ngul and 'coin' for trum. It is subdivided into 100 chhertum. The Royal Monetary Authority of Bhutan, the central bank of Bhutan is the minting authority of the ngultrum banknotes and coins. The ngultrum is currently pegged to the Indian rupee at parity.

<span class="mw-page-title-main">Ethiopian birr</span> Currency of Ethiopia

The birr is the primary unit of currency in Ethiopia. It is subdivided into 100 santims.

<span class="mw-page-title-main">Vatican euro coins</span> Type of Euro coins issued by Vatican

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. The euro is the official currency of the Vatican City, although Vatican City is not a member of the Eurozone or the European Union. The euro has been the official currency of Vatican City since 2002. Before that, the Vatican lira was the official currency.

<span class="mw-page-title-main">Italian lira</span> Former currency of Italy

The lira was the currency of Italy between 1861 and 2002. It was introduced by the Napoleonic Kingdom of Italy in 1807 at par with the French franc, and was subsequently adopted by the different states that would eventually form the Kingdom of Italy in 1861. It was subdivided into 100 centesimi, which means "hundredths" or "cents". The lira was also the currency of the Albanian Kingdom from 1941 to 1943.

<span class="mw-page-title-main">Somaliland shilling</span> Currency of Somaliland

The Somaliland shilling is the official currency of the Republic of Somaliland, an unrecognised sovereign state in the Horn of Africa, recognised internationally as de jure part of Somalia.

<span class="mw-page-title-main">Sammarinese lira</span> Former currency of San Marino

The lira was the currency of San Marino from the 1860s until it was replaced by the euro on 1 January 2002. It was equivalent and pegged to the Italian lira. Italian coins and banknotes and Vatican City coins were legal tender in San Marino, while Sammarinese coins, minted in Rome, were legal tender throughout Italy, as well as in the Vatican City.

<span class="mw-page-title-main">Somalo</span> Currency of the Trust Territory of Somaliland

The Somalo was the currency of the Trust Territory of Somaliland administered by Italy between 1950 and 1960. The "Somalo" remained officially in use in the newly created Somali Republic until 1962. It was subdivided into 100 centesimi.

<span class="mw-page-title-main">Venezuelan venezolano</span> Former currency of Venezuela

The venezolano was the currency of Venezuela between 1872 and 1879. It was divided into 100 centavos, although the names céntimo and centésimo were also used. Venezolano was also the name of two currencies planned in 1854 and 1865.

<span class="mw-page-title-main">Sardinian lira</span> Currency of the Kingdom of Sardinia

The lira was the currency of the Kingdom of Sardinia between August 6, 1816, and March 17, 1861.

The lira austriaca was the currency of the Kingdom of Lombardy–Venetia.

<span class="mw-page-title-main">Papal lira</span> Former currency of the Papal States

The lira was the currency of the Papal States between 1866 and 1870. It was subdivided into 20 soldi, each of 5 centesimi.

<span class="mw-page-title-main">Italian Somaliland lira</span> Currency of Italian Somaliland

The Italian Somaliland lira also called the Somali lira, was a special version of the Italian lira minted in Italian Somaliland between 1925 and 1926.

The lira was the currency of the mainland part of the Kingdom of the Two Sicilies, known as the Kingdom of Naples, between 1812 and 1813.

<span class="mw-page-title-main">Parman lira</span> Currency of Parma

The lira was the distinct currency of Parma before 1802 and again from 1815 to 1859.

The Papal Mint is the pope's institute for the production of hard cash. Papal Mint also refers to the buildings in Avignon, Rome, and elsewhere that used to house the mint.

<span class="mw-page-title-main">Philatelic and Numismatic Office of the Vatican City State</span>

The Philatelic and Numismatic Office of the Vatican City State, managed by Poste Vaticane, is responsible for issuing Vatican postal stamps and Vatican coins.

<span class="mw-page-title-main">Currency of Uruguay</span> Outline of Uruguays monetary history

This is an outline of Uruguay's monetary history. For the present currency of Uruguay, see Uruguayan peso.

<span class="mw-page-title-main">History of coins in Italy</span> History of currency and coinage in Italy

Italy has a long history of different coinage types, which spans thousands of years. Italy has been influential at a coinage point of view: the medieval Florentine florin, one of the most used coinage types in European history and one of the most important coins in Western history, was struck in Florence in the 13th century, while the Venetian sequin, minted from 1284 to 1797, was the most prestigious gold coin in circulation in the commercial centers of the Mediterranean Sea.

<span class="mw-page-title-main">1 Centesimo (Italian coin)</span> Former Italian coin

The 1 lira cent, commonly called centesimino, was the smallest denomination of Italian lira coins. Like the contemporary 2, 5 and 10 cent coins, it was made of a bronze alloy composed of 960‰ copper and 40‰ tin. The 1-cent coins were minted between 1861 and 1918, only to be withdrawn from circulation in 1924.

References

  1. Cuhaj, George S. (December 2009). 2010 Standard Catalog of World Coins (37 ed.). Krause Publications. p. 2181. ISBN   978-0896898141.
  2. "Copyright", Lakes of New York State, Elsevier, pp. iv, 1978, doi:10.1016/b978-0-12-107301-5.50003-x, ISBN   978-0-12-107301-5 , retrieved 2023-07-25
  3. "10 centesimi Città del Vaticano - Pio XI | Numismatica Europea". www.numismaticaeuropea.it. Retrieved 2023-07-25.
  4. "Bollettino di Numismatica OnLine - Studi e Ricerche". www.bdnonline.numismaticadellostato.it. Retrieved 2023-07-25.