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Vatican lira

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Currency of Vatican City from 1929 to 2002

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Vatican lira
lira vaticana (Italian) VAL
500 Lire
ISO 4217
Code	ITL
Unit
Plural	lire
Symbol	None official, seeItalian lira
Denominations
Subunit
1⁄100	centesimo Subunits were abolished afterWWII
Plural
centesimo	centesimi (c.)
Banknotes	Italian lira banknotes
Coins
Freq. used	50, 100, 200, 500, 1,000 Lire
Rarely used	1 Lira, 2, 5, 10, 20 Lire
Demographics
User(s)	None, previously: Vatican City Italy San Marino
Issuance
Central bank	Banca d'Italia
Website	www.bancaditalia.it
Valuation
EU Exchange Rate Mechanism(ERM)
Since	13 March 1979, 25 November 1996^[a]
Withdrawn	16 September 1992 (Black Wednesday)
Fixed rate since	31 December 1998
Replaced by euro, non cash	1 January 1999
Replaced by euro, cash	1 January 2002
1 € =	1,936.27 Lire
This infobox shows the latest status before this currency was rendered obsolete. ^Indirectly (1:1 peg to ITL).

Thelira (plurallire; abbreviation:VAL) was thecurrency of theVatican City between 1929 and 2002. It was not a separate currency but an issue of theItalian lira; theBanca d'Italia produced coins specifically for Vatican City.

History

[edit]

ThePapal States, by the late 1860s, was reduced to asmall area close toRome, used its ownlira between 1866 and 1870 as a member of theLatin Monetary Union. Upon the conclusion of theRisorgimento, the state, and its currency, ceased to exist. In 1929, theLateran Treaty established the State of theVatican City and, according to the terms of the treaty, a distinct coinage was introduced, denominated in centesimi and lire, on par with theItalian lira. Italian coins and banknotes were legal tender in the Vatican City. The Vatican coins were minted inRome and were also legal tender in Italy andSan Marino.

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

Coins

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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, andgold 100 Lire coins were introduced. In 1936, the gold content of 100 Lire coins was decreased from 0.2546 to 0.1502troy 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 ofaluminium 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 bybi-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 usingRoman numerals for the year of issue, as opposed to the more commonArabic 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

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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 PopePius 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 inForte Antenna, a Roman refuge. DuringWorld War II, in anticipation of the offensive of theAllied Expeditionary Forces led byDwight D. Eisenhower, the boxes of coins were transported at the sovereign's will toPollenzo, a safer royal residence inPiedmont. However, in September 1943, the proclamation of theItalian 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 toGermany. 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 fromAdolf 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 centesimiVatican 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 thePCGS office inLos 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)

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Image		Value	Technical Parameters			Description
Obverse	Reverse	Value	Diameter	Mass	Composition	Obverse	Reverse	Years of Issue	Papacy
		5 Centesimi	20mm	3.25 grams	95% Copper	Crowned Shield	Olive Branch	1929–1937	Pius XI
				2.95 grams	Bronzital	Crowned Shield	Olive Branch	1939–1941	Pius XII
				2.95 grams	Bronzital	Bust of Pius XII	Dove	1942–1946	Pius XII
		10 Centesimi	22mm	5.4 grams	95% Copper	Crowned Shield	Bust ofSt. Peter	1929–1937	Pius XI
				4.9 grams	Bronzital	Crowned Shield	Bust ofSt. Peter	1939–1941	Pius XII
				4.9 grams	Bronzital	Bust of Pius XII	Dove	1942–1946	Pius XII
		20 Centesimi	21mm	4.1 grams	Nickel	Crowned Arms	Bust ofSt. Paul	1929–1937	Pius XI
				4.1 grams	Nickel	Crowned Arms	Bust ofSt. Paul	1939–1941	Pius XII
				4 grams	Acmonital	Crowned Shield	Justice with law tabets	1942–1946	Pius XII
		50 Centesimi	24mm	6 grams	Nickel	Crowned Arms	Saint Michael	1929–1937	Pius XI
					Nickel	Crowned Arms	Saint Michael	1939–1941	Pius XII
					Stainless Steel	Crowned Shield	Justice with law tabets	1942–1946	Pius XII
		1 Lira	27mm	8.1 grams	Nickel	Crowned Arms	St. Mary standing atop globe	1929–1937	Pius XI
			26.65mm	7.86 grams	Acmonital	Crowned Arms	St. Mary standing atop globe	1940–1941	Pius XII
				7.86 grams	Acmonital		Justice with law tabets	1942–1946
				1.25 grams	Italma		Justice with law tabets	1947–1949
				1.25 grams			Holy Door	1950
			17mm	0.6200 grams			Temperance standing pouring libation in bowl	1951–1956
		2 Lire	29mm	10 grams	Nickel	Crowned Arms	Lamb on shepherd's shoulders	1929–1937	Pius XI
				10 grams	Nickel			1939	Pius XII
				10.2 grams	Stainless Steel			1940–1941
				10.2 grams	Stainless Steel	Crowned Shield	Justice with law tabets	1942–1946
			24mm	1.75 grams	Aluminum	Crowned Shield	Justice with law tabets	1947–1949
			24mm	1.75 grams		Pius XII bust	Dove and St. Peter's Basilica Dome	1950
			18mm			Crowned Shield	Fortitude standing with lion at feet	1951–1958
		5 Lire	23mm	5 grams	0.8350 Silver	Bust of Pius XI	St. Peter in a boat	1929–1937	Pius XI
						Arms ofCardinal Eugenio	Dove within half sun	1939	Sede Vacante
						Bust of Pius XII	St. Peter in a boat	1939–1941	Pius XII
							Caritas figure with children	1942–1946
			26.5mm	2.5 grams	Aluminum		Caritas figure with children	1947–1949
			26.5mm	2.5 grams			Pope with staff within Holy Door	1950
			20mm	1 gram			Justice standing with sword and scales	1951–1958
		10 Lire	27mm	10 grams	0.8350 Silver	Bust of Pius XI	St. Mary holding infant	1929–1937	Pius XI
						Arms of Cardinal Eugenio	Dove within half sun	1939	Sede Vacante
						Bust of Pius XII	St. Mary holding infant	1939–1941	Pius XII
							Caritas figure with children	1942–1946
			29mm	3 grams	Aluminum		Caritas figure with children	1947–1949
							Pope with staff within Holy Door	1950
			23mm	1 gram			Prudence standing	1951–1958
		20 Lire	21.25mm	3.600 grams	Aluminum-Bronze		Caritas figure with children	1957
		20 Lire	21.25mm	5.600 grams	Aluminum-Bronze		Caritas figure with children	1958
		50 Lire	24.8mm	6.200 grams	Stainless Steel		Spes standing with large anchor	1955–1958
		100 Lire	23.5mm	8.8 grams	0.9000 Gold	Bust of Pius XI	Jesus with child at feet	1929–1935	Pius XI
			20.5mm	5.19 grams		Bust of Pius XI		1936–1938	Pius XI
						Bust of Pius XII		1939–1941	Pius XII
						Bust of Pius XII	Caritas figure with children	1942–1949
						Crowned Pius XII	Opening of Holy Door	1950
						Bust of Pius XII	Caritas figure with children	1951–1956
							Crowned Shield	1957–1958
			27.75mm	8.000 grams	Stainless Steel		Fides with large cross	1955–1958
		500 Lire	29mm	11.000 grams	0.8350 Silver		Crowned Shield	1958

References

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^Cuhaj, George S. (December 2009).2010 Standard Catalog of World Coins (37 ed.). Krause Publications. p. 2181.ISBN 978-0896898141.
^"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, retrieved2023-07-25{{citation}}: CS1 maint: work parameter with ISBN (link)
^"10 centesimi Città del Vaticano - Pio XI | Numismatica Europea".www.numismaticaeuropea.it. Retrieved2023-07-25.
^"Bollettino di Numismatica OnLine - Studi e Ricerche".www.bdnonline.numismaticadellostato.it. Archived fromthe original on 2023-06-10. Retrieved2023-07-25.

Krause, Chester L.; Clifford Mishler (1991).Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications.ISBN 0873411501.
Jencius, Peter (December 2019).Vatican City Coins: 1929-1978. Jencius Coins.ISBN 9781734277708.

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History

General	"Snake in the tunnel" European Monetary System I ECU II ERM III EMU European Monetary Cooperation Fund Delors Committee European Monetary Institute Enlargement Black Wednesday Euro area crisis Withdrawal
Past adoption by country	Bulgaria Croatia Latvia Lithuania
Previous EU members and euro	United Kingdom
Historical currencies of the European Union	European Currency Unit Austrian schilling Belgian franc Bulgarian lev Croatian kuna Cypriot pound Dutch guilder Estonian kroon Finnish markka French franc German Mark Greek drachma Irish pound Italian lira Latvian lats Lithuanian litas Luxembourg franc Maltese lira Monégasque franc Portuguese escudo Sammarinese lira Slovak koruna Slovenian tolar Spanish peseta Vatican lira
Former fiscal provisions	European Financial Stability Facility European Financial Stabilisation Mechanism

v t e Currency units namedpound,lira, or similar
Circulating	Egyptian pound Lebanese pound Pound sterling Alderney pound Falkland Islands pound Gibraltar pound Guernsey pound Jersey pound Manx pound Saint Helena pound South Sudanese pound Sudanese pound Syrian pound Turkish lira
Local alternative currency	Brixton pound
Obsolete and historical	Aeginetan mina AM-Lira Angevin pound Attic mina Australian pound Bahamian pound Bermudian pound Biafran pound British West African pound Bristol pound Byzantine litra Canadian pound Connecticut pound Cypriot pound Delaware pound Exeter pound Fijian pound French livre Livre parisis Livre tournois French colonial livre Guadeloupe livre Haitian livre New France livre Saint Lucia livre Gambian pound Georgia pound Ghanaian pound Irish punt Israeli lira Italian lira Italian East African lira Italian Somaliland lira Jaca pound Jamaican pound Japanese government-issued Oceanian pound Jersey livre Lewes pound Libyan pound Liverpool pound Lombardo-Venetian lira Luccan lira Luxembourg livre Malawian pound Maltese pound Maryland pound Massachusetts pound New Brunswick pound New Guinean pound New Hampshire pound New Jersey pound New York pound New Zealand pound Newfoundland pound Nigerian pound North Carolina pound Nova Scotian pound Ottoman lira Palestine pound Papal lira Parman lira Pennsylvania pound Peruvian libra Pound Scots Prince Edward Island pound Rhode Island pound Rhodesian pound Rhodesia and Nyasaland pound Roman pound Sammarinese lira Sardinian lira Solomon Islands pound South Carolina pound Southern Rhodesian pound South African pound South West African pound Stroud pound Tongan pound Totnes pound Tripolitanian lira Tuscan lira Vatican lira Venetian lira Virginia pound Western Samoan pound Zambian pound
Historical antecedents (mass)	Roman pound (libra) Moneyer's pound (England) Grzywna (Grivna)
See also	Pound sign (£) Dinar Pound (mass) (℔) Roman currency Carolingian monetary system £sd