"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"
"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"
"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"
"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"
"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"
"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"
"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"
"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"
"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"
"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"
"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"
"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"
"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"
"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,"
"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"
"was introduced by the occupying French in an attempt to decimalize the Neapolitan currency units. However the attempt failed and the decimalization was limited to changing the value of the ""cavallo"" to one tenth of a ""grano"". After restoration of Bourbon control, a single currency was issued for the whole of the Two Sicilies, see Two Sicilies piastra. This new piastra was subdivided in the same way as the Neapolitan piastra. In the late 18th century, coins circulated in denominations of 3, 4, 6, 9 and 12 cavalli, 3, 5, 8 and 10 tornesi, 10 (""carlino""), 20 (""tarì""), 60 (""mezza"
"of Italy. They corresponded to a value of 0.29 of gold or 4.5 grams of silver. The Papal States scudo was the coinage system used in the Papal States until 1866. Between 1798 and 1799, the revolutionary French forces established the Roman Republic, which issued coins denominated in baiocco and scudo. In addition, the states of Ancona, Civitavecchia, Clitunno, Foligno, Gubbio, Pergola and Perugia changed their coinage system to that of the Roman Republic. In 1808, the Papal States were annexed by France, and French francs circulated as the official coins. When the Pope's authority was restored in 1814, the"
"Lira Lira (plural lire) is the name of several currency units. It is the current currency of Turkey and also the local name of the currencies of Lebanon and Syria. It is the former currency of Italy, Malta, San Marino and the Vatican City, all of which were replaced in 2002 with the euro, and of Israel, which replaced it with the old shekel in 1980. The term originates from the value of a troy pound (Latin ""libra"") of high purity silver. The libra was the basis of the monetary system of the Roman Empire. When Europe resumed a monetary"
". 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"
"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,"
"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."
"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"
"known as Italian East Africa, were using the Italian East African lira. In 1941, as a result of World War II, Britain regained control and introduced the shilling, at a rate of 1 shilling to 24 lira. Italian Somaliland was returned to Italy in 1949 as a UN Trusteeship and soon switched to the Italian Somaliland somalo, which was at par with the shilling. British Somaliland gained independence in 1960, and joined what had been Italian Somaliland to create Somalia. In that year, Somalia began using the Somali shilling (replacing the Somali somalo) at par with the East African shilling."
"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,"
"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 controlled the mainland part of the kingdom. Consequently, the currency is referred to as the ""Neapolitan lira"". It was subdivided into 100 ""centesimi"" (singular: ""centesimo"") and was equal to the Italian lira and French franc. It replaced the piastra, which circulated again following the restoration of Bourbon rule. Coins were issued in denominations of"
"Lombardo-Venetian pound The pound (Italian: ""lira"") was the currency of the Kingdom of Lombardy-Venetia. The pound was made of 4.33 grams of silver (with 9/10 of purity), correspondently to the German standards. Six pounds were called shield (""scudo"") and were equivalent to the Austrian ""Conventionsthaler"". Each pound was divided into 100 cents (""centesimi""). All currencies were a re-establishment of the pounds used in the Duchy of Milan until 1796, whereas they had no relation with former defunct Venetian pound. Coins were minted in Milan, Venice and Vienna. Due to the heavy consequences of the war, Austria was not able to"
"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"
"Italian East African lira The lira AOI was a special banknote circulating in Italian East Africa (""Africa Orientale Italiana"", or AOI) between 1938 and 1941. When Fascist Italy imposed the Italian lira in Ethiopia in 1936, it declared by law a rate of 3 lire = 1 thaler: it was no more than an after-war clausola that a winning nation had imposed to a defeated country, considering that the thaler was a silver coin with a natural value 28 times higher than the lira. If Ethiopians were obliged to change their copper money and banknotes for their everyday life, they"
"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"
"Venetian lira The lira (plural ""lire"") was the distinct currency of Venice until 1807. It was subdivided into 20 ""soldi"", each of 12 ""denari"". The ""ducato"" was equal to 124 soldi, whilst the ""tallero"" (also known as the ""zecchino"") was equal to 7 lire. The lira of Napoleon's Kingdom of Italy replaced the Venetian lira in 1807. In the late 18th century a large number of different denominations of coins circulated. Bullion coins were struck for 6 and 12 denari. Silver denominations included 5, 10, 15 and 30 soldi, ⅛, ¼, ½ and 1 ducato, and ⅛, ¼, ½ and"
"12 ""denari"" (singular: ""denaro""), with the ""sesino"" worth 6 denari and the ""ducato"" was worth 7 lire. The currency was replaced by the French franc. After the re-establishment of Parman independence, the Parman currency system was introduced in 1815. Also called the lira, it was subdivided into 20 ""soldi"" or 100 ""centesimi"". However, this lira was equal to the French franc and the Sardinian lira, and it circulated alongside the latter. It weighed 5 grams, and had a purity of 9/10 of silver. Since 1861, Parma has used the equivalent Italian lira. The Neapolitan piastra was the most common silver"
"Oncia In southern Italy, the oncia (plural ""oncie"" or ""once"") or onza (pl. ""onze"") was a unit of account during the Middle Ages and later a gold coin minted between 1732 and 1860. It was also minted in the Spanish Empire, and a silver coin of the same value was minted by the Knights of Malta. The name is derived from the ancient Roman ""uncia"". It may sometimes be translated ounce. In the medieval kingdoms of Naples and Sicily, one ""oncia"" was equivalent to 30 ""tarì"", 600 ""grani"" and 3600 ""denari"" (pennies). Conventionally, a sum of money is indicated by"