"1946). They were officially set up on 21 December of the same year and were used up to 1953–4. 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. The lira was the official unit of currency in Italy"
"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: in fact, in various Gallo-Italic languages in north-western Italy, the lira was outright called """"franc"""". This practice has obviously ended with the introduction of the euro in 2002. 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"
"a referendum bid, to restore the lira in Italy. Italian lira The lira (; plural lire ) was the currency of Italy between 1861 and 2002 and of the Albanian Kingdom between 1941 and 1943. Between 1999 and 2002, the Italian lira was officially a national subunit of the euro. However, cash payments could be made in lira only, as euro coins or notes were not yet available. The lira was also the currency of the Napoleonic Kingdom of Italy between 1807 and 1814. The term originates from the value of a pound weight () of high purity silver and"
"but this was brought forward to 6 December 2011. Although Italian price displays and calculations became unwieldy because of the large number of zeros, efforts were unsuccessful for political reasons until the introduction of the euro which had the effect of lopping off excessive zeros. The Napoleonic Kingdom of Italy issued coins between 1807 and 1813 in denominations of 1 and 3 centesimi and 1 soldo (plural ""soldi"") 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"
"Italian lira The lira (; plural lire ) was the currency of Italy between 1861 and 2002 and of the Albanian Kingdom between 1941 and 1943. Between 1999 and 2002, the Italian lira was officially a national subunit of the euro. However, cash payments could be made in lira only, as euro coins or notes were not yet available. The lira was also the currency of the Napoleonic Kingdom of Italy between 1807 and 1814. The term originates from the value of a pound weight () of high purity silver and as such is a direct cognate of the British"
"others, the French, Belgian and Swiss francs: in fact, until the introduction of the euro in 2002, people speaking the Gallo-Italic dialects in north-western Italy usually called """"franc"""" the lira. World War I broke the Latin Monetary Union and resulted in prices rising severalfold in Italy. Inflation was curbed somewhat by Mussolini, who, on 18 August 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"
"History of coins 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 florin, one of the most used coinage types in European history, was struck in Florence in the 13th century. Since Italy has been for centuries divided into many city-states, they all had different coinage systems, but when the country became unified in 1861, the Italian lira came into place, and was used until 2002. Today, Italy uses the Euro. Despite the fact that the first Italian coinage systems were used"
"on the reverse side on top of the building) Coins of the Italian lira Italian lira coins were the coins of the Italian lira that served as Italy's currency from 1861 until 2001 when it was replaced by the Euro. From 1980 until 2001, 1 and 2 lira coins were struck solely for collectors due to their low value, and in 1998 the 5 lira was also sold for collectors only. 10 and 20 lira coins dated 2000 or 2001 were struck in sets only. The 500 lire coin was the first bimetallic circulating coin, and was also the first"
"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). Old lira denominated currency ceased to be legal tender on February 28, 2002. The conversion rate is 1,936.27 lire to the euro. All lira banknotes in use immediately before the introduction of the euro, and all post-World War II coins, were exchanged by the Bank of Italy up to 6 December 2011. Originally, Italy's central bank pledged to redeem Italian coins and banknotes until 29 February 2012,"
"Coins of the Italian lira Italian lira coins were the coins of the Italian lira that served as Italy's currency from 1861 until 2001 when it was replaced by the Euro. From 1980 until 2001, 1 and 2 lira coins were struck solely for collectors due to their low value, and in 1998 the 5 lira was also sold for collectors only. 10 and 20 lira coins dated 2000 or 2001 were struck in sets only. The 500 lire coin was the first bimetallic circulating coin, and was also the first coin to feature Braille numerals (a Braille ""500"" is"
"2002. The euro coinage system entered circulation in Italy in 2002 and is currently the official currency. 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 pound, 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"
"Italy, and on the island of Sicily, because of the perceived unfair treatment of the south by the Piedmontese ruling class. The House of Savoy ruled Italy until 1946 when Italy was declared a republic by referendum. In this referendum the southern regions, including Sardinia, voted overwhelmingly in favor of the House of Savoy, with the results being 63.8% in favor of maintaining the monarchy. The currency in use in Savoy was the Piedmontese scudo. During the Napoleonic era, it was replaced in general circulation by the French franc. In 1816, after regaining their mainland domains, the scudo was replaced"
"euro coins dated earlier than ""2002"", even though they were certainly minted earlier, as they were first distributed to the public in December 2001. History of coins 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 florin, one of the most used coinage types in European history, was struck in Florence in the 13th century. Since Italy has been for centuries divided into many city-states, they all had different coinage systems, but when the country became unified in 1861, the Italian lira"
"Soldo Soldo was the name of an Italian medieval silver coin, issued for the first time in the late 12th century at Milan by Emperor Henry VI. The name derives from the late Roman coin ""solidus"". It quickly became widespread in Italy where it was coined in Genoa, Bologna, and numerous other cities. In Venice, the soldo was minted from the reign of Francesco Dandolo onward, remaining in use also after the republic's dissolution in 1797 and during the Austrian occupation, until 1862. In the 14th century Florence, a ""soldo"" equaled of a ""lira"" and 12 ""denari"". As time passed,"
"the currency. However, outside Rome solely the coinage of Bologna was resumed. In 1849, another Roman Republic was established which issued coins centrally and in Ancona. In 1866, the scudo was replaced by the lira, equivalent to the Italian lira, allowing the participation to the Latin Monetary Union. The exchange rate used was 5.375 lire = 1 scudo. In the late eighteenth century, coins were issued in copper in denominations of 1 quattrino, ½, 1, 2, 2½ and 5 baiocchi, along with billon coins for 1, 4, 8, 12, 25 and 50 baiocchi, 1 and 2 carlini, silver coins for"
". In 1858, pounds, shillings, and pence were abolished in favour of dollars and cents, and the nickname began to be used for the 1¢ coin, but the term for a 25¢ coin has endured. In the vernacular Quebec French and are also frequently used to refer to money in general, especially small amounts. The name of the medieval Italian silver ""soldo"" (plural ""soldi""), coined since the 11th century, was derived from ""solidus"". This word is still in common use today in Italy in its plural ""soldi"" with the same meaning as the English equivalent """"money"""". The word """"saldo"""", like"
"legislation. Italy introduced the common European currency, the Euro in 2002. It is a member of the Eurozone which represents around 330 million citizens. Its monetary policy is set by the European Central Bank. Italy has been hit hard by the Financial crisis of 2007–08, that exacerbated the country's structural problems. Effectively, after a strong GDP growth of 5–6% per year from the 1950s to the early 1970s, and a progressive slowdown in the 1980-90s, the country virtually stagnated in the 2000s. The political efforts to revive growth with massive government spending eventually produced a severe rise in public debt,"
"until after the Second World War. In 1943, the invading Allies introduced notes in denominations of 1, 2, 5, 10, 50, 100, 500 and 1,000 lire. These were followed in 1944 by a series of Biglietti 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 5,000- and 10,000-lira notes. In 1951, the government again issued notes, this time simply bearing the title ""Repubblica Italiana"". Denominations were of 50 and 100 lire (replacing the Bank of Italy notes) and they circulated until coins of"
"Italian scudo The scudo (pl. ""scudi"") was the name for a number of coins used in Italy until the 19th century. The name, like that of the French écu and the Spanish and Portuguese escudo, was derived from the Latin ""scutum"" (""shield""). From the 16th century, the name was used in Italy for large silver coins. Sizes varied depending on the issuing country. First ""scudo d'argento"" (silver shield) was issued in 1551 by Charles V (1519–1556) in Milan. Under Maria Theresa and Joseph II the ""scudo d'argento"" had a weight of 23.10 g and a fineness of 896/1000. In the"
"Order itself. The scudo was also the currency used on the Order's stamps from 1961 to 2005, when the euro began to be used. Coins were issued in denominations of 1, , 5 and 10 grani, 1, 2, 4 and 6 tarì, 1, , , 2, , 5, 10 and 20 scudi. The 1, , 5 and 10 grani and 1 tarì were minted in copper, with the grani denominated as 15 piccoli. The 2, 4 and 6 tarì, 1, , , 2 and scudi were silver coins, with the , and scudi denominated as 15, 16 and 30 tarì."
"were a special kind of money called notgeld that circulated in Italy in the late 1970s in place of change, as in that period small-denomination coins were scarce and were often replaced by candy, stamps, telephone tokens, and in some cities public transport tickets. The first miniassegni made their appearance in December 1975, and were subsequently issued by many banks; they had nominal values of 50, 100, 150, 200, 250, 300 and 350 lire. In 2006, the Lega Nord launched a campaign to reintroduce the lira as a parallel currency. In 2014, Beppe Grillo, the Five Star Movement leader spearheaded"
"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. ""L"", sometimes in a double-crossed script form (""₤""), was the symbol most often used. Until the Second World War, it was subdivided into 100 ""centesimi"" (singular: ""centesimo""), which translates to ""hundredths"" or ""cents"". The 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 pound, the Two Sicilies"
"1961. Italian scudo The scudo (pl. ""scudi"") was the name for a number of coins used in Italy until the 19th century. The name, like that of the French écu and the Spanish and Portuguese escudo, was derived from the Latin ""scutum"" (""shield""). From the 16th century, the name was used in Italy for large silver coins. Sizes varied depending on the issuing country. First ""scudo d'argento"" (silver shield) was issued in 1551 by Charles V (1519–1556) in Milan. Under Maria Theresa and Joseph II the ""scudo d'argento"" had a weight of 23.10 g and a fineness of 896/1000. In"
"the republic (especially the denarii) are of particular interest because they were produced by ""mint magistrates"", junior officials who choose the designs and legends. This resulted in the production of coins advertising the officials' families for political purposes; most of the messages on these coins can still be understood today. Before the introduction of coinage in Italy the two important forms of value in the economy were sheep (""pecus""), from which the Latin word for money (""pecunia"") is derived, and irregularly shaped pieces of bronze known as aes rude (""rough bronze"") which needed to be weighed for each transaction. It"
"3, 5 and 10 centesimi, ½, 1, 2, 5, 20 and 40 lire. The centesimi denominations were struck in bronze, the lire coins up to 5 lire were in silver and the higher denominations were in gold. All the coins bore the head of name Joachim Murat and his adopted Italian name, ""Gioacchino Napoleone"". Neapolitan lira The lira was the currency of the mainland part of the Kingdom of the Sicily, known as the Kingdom of Naples, between 1812 and 1813. The currency was issued by Joachim Murat, who claimed the title of ""King of the Two Sicilies"" but only"
"Roman scudo The Roman scudo (plural: ""scudi romani"") was the currency of the Papal States until 1866. It was subdivided into 100 baiocchi (singular: ""baiocco""), each of 5 quattrini (singular: ""quattrino""). Other denominations included the ""grosso"" of 5 baiocchi, the ""carlino"" of 7½ baiocchi, the ""giulio"" and ""paoli"" both of 10 baiocchi, the ""testone"" of 30 baiocchi and the ""doppia"" of 3 scudi. In addition to issues for the Papal States as a whole, the currency was also issued by many of the individual municipalities. In the late 18th century, this included issues from Ancona, Ascoli, Bologna, Civitavecchia, Fano, Fermo,"
"currency of central Italy was influenced by its natural resources, with bronze being abundant (the Etruscans were famous metal workers in bronze and iron) and silver ore being scarce. The coinage of the Roman Republic started with a few silver coins apparently devised for trade with the Greek colonies in Southern Italy, and heavy cast bronze pieces for use in Central Italy. During the Second Punic war a flexible system of coins in bronze, silver and (occasionally) gold was created. This system was dominated by the silver denarius, a denomination which remained in circulation for 450 years. The coins of"
"Italian . Qirsh Qirsh, Ersh, Gersh, Grush, Kuruş and Grosi are all names for currency denominations in and around the territories formerly part of the Ottoman Empire. The variation in the name stems from the different languages it is used in (Arabic, Amharic, Hebrew, Turkish and Greek) and the different transcriptions into the Latin alphabet. The name originally comes from the Italian , as in , a silver coin worth twelve denari. The original qirsh was a large, 17th century silver piece, similar to the European thalers, issued by the Ottomans. It was worth 40 ""para"". In 1844, following sustained"
"gold. Sardinian scudo The scudo (plural: ""scudi"") was the currency of the island Kingdom of Sardinia until 1816. It was subdivided into 2½ ""lire"" (singular: ""lira""), each of 4 ""reales"", 20 ""soldi"", 120 ""cagliarese"" or 240 ""denari"". The ""doppietta"" was worth 2 scudi. It was replaced by the Sardinian lira. In the late 18th century, coins circulated in denominations of 1 and 3 cagliarese, 1 soldo, ½ and 1 reale, ¼, ½ and 1 scudo, 1, 2½ and 5 doppietta. The cagliarese denominations were struck in copper, the soldo and reale in billon, the scudo in silver and the doppietta"
"AM-Lira The AM-lira (Allied-Military Currency) was the currency issued in Italy by AMGOT after the invasion of Sicily in 1943. 100 AM-lire were worth 1 US dollar. The Am-Allied Military Currency or lira was the currency that AMGOT put in circulation in Italy after the landing in Sicily on the night between 9 and 10 July 1943. The value was 100 ""am-lire"" for a U.S. dollar. Totally interchangeable with the normal Italian lira for military decision, it contributed to high inflation that hit Italy towards the end of World War II. The study of paper money specific to Italy began"
"these denominations were introduced in the mid-1950s. In 1966, 500-lira notes were introduced (again replacing Bank of Italy notes) which were produced until replaced in 1982 by a coin. Fifty-thousand- and 100,000-lira notes were introduced by the Bank of Italy in 1967, followed by 2,000-lira notes in 1973, 20,000-lira notes in 1975 and 500,000-lira notes in 1997. In the mid-1970s, when coinage was in short supply, Italian banks printed ""miniassegni"" in 50- and 100-lira amounts. Technically bearer checks, they were printed in the form of banknotes and were generally accepted as substitute legal currency. Notes in circulation when the euro"
"the ""soldo"" started to be coined in billon and, from the 18th century, in copper. During the reign of Leopoldo II of Tuscany (19th century), it was worth 3 ""quattrini"". The Napoleonic reformation of Italian coinage (early 19th century) made it worth 5 cents, while 20 ""soldi"" were needed to form a ""lira"". The term, used in medieval times to designate the pay of soldiers, became its synonym in both Italian and German (as ""sold""). Soldo Soldo was the name of an Italian medieval silver coin, issued for the first time in the late 12th century at Milan by Emperor"
"system, during the Carolingian Empire, the Roman system was adopted, the so-called £sd (""librae"", ""solidi"", ""denarii""). Particularly this system was kept during the Middle Ages and Modern Age in England, France, and Italy. In each of these countries the ""libra"" was translated into local language: pound in England, livre in France, ""lira"" in Italy. The Venetian lira was one of the currencies in use in Italy and due to the economic power of the Venetian Republic a popular currency in the Eastern Mediterranean trade. During the 19th century, Egypt and the Ottoman Empire adopted the ""lira"" as their national currency,"