Thelira (plurallire) was the distinctcurrency ofVenice until 1848, when it was replaced by theItalian lira. It originated from theCarolingian monetary system used in much of Western Europe since the 8th century CE, with thelira subdivided into 20soldi, each of 12denari.
From its initial value of 305.94 g fine silver, the Venetian lira had depreciated so much in value over its 1,000-year lifetime that this original unit was referred to from 1200 CE as thelira piccola (small lira) in comparison to larger units of the same name.[1] Thedenaro orpiccolo worth1⁄240lira was the only coin produced between 800–1200nbspCE. Initially weighing 1.7 g fine silver, it was graduallydebased over the centuries until it contained only 0.08 g fine silver by 1200 CE.
TheVenetian grosso then became Venice's most important silver coin from the 13th to 15th centuries. It contained 2.1 g fine silver and was valued in 1200 CE at 26denari piccoli, increasing to 48piccoli by 1350. Thelira di grossi was then invented as a monetary unit equal to 240grossi and increasing in value from 26 to 48lire piccole.
The goldducat then became an even more popular Venetian coin from the 13th to 19th centuries. Issued in 1284 in imitation of the Florentineflorin and containing around 3.5 g fine gold, it was initially valued at 2.4lire piccole or 18 silvergrossi (each grosso then worth 32piccoli). By 1472 its value has increased to 6.2lire piccole.
By 1472 thelira di grossi gave way to theducat accounting unit, equal to1⁄10 thelira di grossi or 24grossi, and fixed at 6.2lire or 124soldi piccoli. Confusion then set in the 16th century when the accounting ducat became worth less than the gold ducat, leading to the gold coin being called thezecchino (English:sequin) and understood to be worth more than the accounting ducat of 6.2 lire.
The various currency systems of Italy became of less importance to European trade after theAge of Discovery in the 16th century; nonetheless Venice continued to issue new coins. Thescudo d'argento of 30.1 g fine silver was introduced in 1578 for 7 lire, rising to 12.4 lire by 1739. Thetollero of 23.4 g fine silver was issued in 1797 for 10 lire.
The Venetianlira piccola was supplanted in the 19th century by the Italian lira of theNapoleonic Kingdom of Italy in 1806 and theLombardy-Venetian lira of theAustrian Empire. TheItalian lira was reintroduced by theRepublic of San Marco in 1848 at par with theFrench franc, which finally replaced all previous currencies as well as thelira piccola, with the latter valued at 0.5116 Italian lira.
A huge variety of coins were minted under their post-1750 currency system when thelira piccola contained 2.4 grams fine silver, with many coins having unique names as follows:[2][3]
The provisional government issued silvertolleros worth 10lire piccole in 1797. These were followed during the Austrian occupation by silver1⁄2, 1,1+1⁄2 and 2lire provinciale worth much less than thelira piccola. Rejection of these coins led to the later issuance of thelira austriaca from 1815 to 1848.
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