The History of Italy Coin from Ancient to Modern Times

Italy has a rich history of coinage that spans over two millennia. The first Italian coins were minted by the Etruscans in the 7th century BC.

The Etruscan coins were made of gold and featured various designs, including animals and mythological figures. These early coins were an important part of the Etruscan economy and trade.

The Romans later adopted and modified the Etruscan coin design, creating their own unique coins that featured the profiles of Roman leaders and gods. The Roman coins were made of gold, silver, and copper, and were widely used throughout the Roman Empire.

The use of coins in Italy continued through the Middle Ages and the Renaissance, with the introduction of new coin designs and materials such as gold, silver, and copper.

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The first coins used in Italy were struck in the 6th century by colonists who reigned over Sicily and Southern Italy. These early coins were primarily Greek and Roman issues, consisting of lumps of cast iron.

Rome's early coinage included the silver denarius, bronze asses, silver denarii, brass sestertii, and brass dupondii. Julius Caesar issued coins with his image on them, but it was a move that ultimately contributed to his assassination in 44 BC.

Most of the early Roman coins did not feature the image of a living person, but after Caesar's move, Roman emperors began issuing coins with their image on the obverse.

Ancient Italy was home to some of the most impressive civilizations in the ancient world. The Etruscans, a mysterious and advanced people, developed a sophisticated system of writing and governance.

The Etruscan civilization was centered in what is now modern-day Tuscany, and their cities like Volterra and Chiusi were known for their impressive architecture and engineering feats.

The Etruscans also made significant contributions to the development of the Latin alphabet, which would eventually become the foundation for the modern English alphabet.

In the 8th century BC, the Etruscan civilization was eventually absorbed into the Roman Republic, which would go on to become one of the most powerful empires in history.

Italy has a rich history that spans over two millennia, with its early coins being struck in the 6th century by colonists in Sicily and Southern Italy. These coins were primarily Greek and Roman issues made of cast iron.

The use of bronze in coinage began in the 8th century, and the Roman Empire issued a variety of coins, including the silver denarius, bronze asses, and brass sestertii.

Julius Caesar's bold move to put his image on circulating currency before his assassination in 44 BC was a significant event in Italian history. This move contributed to his assassination.

The Italian Lira originated from the pound sterling introduced by Emperor Charlemagne's pound system. The Lira or pound was used in most Italian states.

The florin, a gold coin, was first struck in Florence in the 13th century and became a standard gold coin for local and international gold transactions. The ducat, issued in Sicily and Venice, also became a standard gold coin.

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King Napoleon's conquest of northern Italy led to the creation of a lira currency equivalent to the Franc, which was divided into 20 soldi and 100 centimo denominations. This currency was short-lived and eradicated in 1814 after Napoleon's defeat.

Italy joined the Latin Monetary Union in 1865, pegging the Lira to the Belgian, French, and Swiss francs and the Greek drachma.

Italy has been a hub for coinage innovation, especially during the Middle Ages and Renaissance. The medieval Florentine florin was one of the most used coinage types in European history.

This coin was struck in Florence in the 13th century and played a significant role in Western history. The Venetian sequin, minted from 1284 to 1797, was the most prestigious gold coin in circulation in the commercial centers of the Mediterranean Sea.

The Florentine florin was widely accepted and used for trade, making it a crucial part of European commerce.

The Italian City-States had their own unique currencies, reflecting the region's rich history and cultural diversity.

The Luccan lira was one of these currencies, used in the Republic of Lucca until 1800 and again in the Duchy of Lucca between 1826 and 1847.

It was subdivided into 20 soldi, each of which could be further divided into 3 quattrini or 12 denari.

The Luccan lira contained less silver than the Tuscan lira, and its use was eventually phased out in 1847 when Lucca was absorbed by Tuscany.

The Lombard coinage was a unique feature of the Lombards, a Germanic people who settled in Italy. They produced their own coins, which were distinct from the Roman Empire's currency.

These coins were found in two main areas: Langobardia Major and Langobardia Minor. The coinage in Langobardia Major was produced between the last decades of the sixth century and 774, while the coinage in Langobardia Minor was produced between approximately 680 and the end of the 9th century.

Only a few hoards of Lombard coins have been found. In fact, there are only five known hoards that contain non-pseudo-imperial coinage of the Lombards. Let's take a look at two of them:

The Tuscan Florin was a currency used in Tuscany between 1826 and 1859. It was subdivided into 100 quattrini, with an additional denomination called the paolo, worth 40 quattrini.

The Tuscan Florin was introduced in 1826 by Duke Leopold II, who decided to replace the Tuscan lira at a rate of 1+2⁄3 lire = 1 Tuscan Florin. This change was made to simplify the currency system.

In 1847, Tuscany absorbed Lucca, and the Tuscan Florin replaced the Luccan lira at a rate of 1 Tuscan Florin = 2 lire. This marked a significant milestone in the history of the Tuscan Florin.

Here's a brief overview of the Tuscan Florin's lifespan:

The Tuscan Florin was eventually replaced by the Italian lira in 1859, at a rate of 1 Tuscan Florin = 1.4 Italian Lire.

Additional reading: Monetary Unit of Italy

The Venetian city-state was renowned for its impressive coinage, which played a significant role in its commercial success. The Venetian sequin, minted from the 13th century onwards, was the most prestigious gold coin in circulation in the Mediterranean Sea.

The design of the Venetian sequin remained unchanged for over 500 years, a testament to the artistic and technical expertise of the Venice Mint. Its minting quality was superior to all contemporary coins, showcasing the high level of taste and refinement of design achieved by the artists.

The Venetian lira was the distinct currency of the Republic of Venice until 1848, when it was replaced by the Italian lira. It originated from the Carolingian monetary system used in much of Western Europe since the 8th century CE.

The Venetian lira had depreciated significantly in value over its 1,000-year lifetime, with its original unit referred to as the lira piccola (small lira) in comparison to larger units of the same name. The denaro or piccolo, worth 1⁄240th a lira, was the only coin produced between 800–1200 CE.

The Florentine florin, struck from 1252 to 1523, was a gold coin that played a significant commercial role in Europe. It had 54 grains of nominally pure gold and was used for larger transactions, such as dowries, international trade, or tax-related matters.

The Lombardy-Venetia florin was the currency of Lombardy-Venetia between 1862 and 1866, replacing the Lombardo-Venetian lira at a rate of 1 florin = 3 lire. It was equivalent to the Austro-Hungarian florin and was subdivided into 100 soldi.

The Venetian grosso, introduced in 1193 under doge Enrico Dandolo, was a silver coin originally weighing 2.18 grams and composed of 98.5% pure silver. Its value was allowed to float relative to other Venetian coins until it was pegged to 4 soldini in 1332.

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The Luccan lira was the currency of the Republic of Lucca until 1800 and again of the Duchy of Lucca between 1826 and 1847. It was subdivided into 20 soldi, each of 3 quattrini or 12 denari.

The Luccan lira circulated until 1800, when the French franc was introduced, accompanied by the Luccan franc from 1805. This marked a significant change in the region's currency system.

The Luccan lira reappeared in 1826 by order of Duke Charles Louis, replacing all circulating currencies. It contained less silver than the Tuscan lira had.

In 1826, coins were introduced in denominations of q.1, q.2 and q.5, 1, 2, 3, 5 and 10 soldi, and 1 and 2 lire. The quattrini denominations and the s.1 were struck in copper, with the higher denominations in silver.

The Piedmontese scudo was the currency of the Piedmont and the other mainland parts of the Savoyard Kingdom of Sardinia from 1755 to 1816.

It was subdivided into 6 lire, each of 20 soldi or 240 denari.

The doppia was worth 2 scudi, which is a significant amount considering the scudo was the main currency.

Copper 2 denari, billon ½, 1, 2½ and 7½ soldi, silver ¼, ½ and 1 scudo, and gold ¼, ½, 1, and 2½ doppia coins circulated in the late 18th century.

In the 1790s, copper 1 and 5 soldi, and billon 10, 15 and 20 soldi were added to the currency options.

The Piedmont Republic issued silver ¼ and ½ scudo in 1799, showing the region's efforts to standardize its currency.

In 1800, bronze 2 soldi were struck in the name of the "Piedmont Nation" (Nazione Piemontese).

The Sicilian pierreale was a silver coin minted by the Kingdom of Sicily between the reigns of Peter I (1282–1285) and Ferdinand II (1479–1516). It was equivalent in weight and fineness to the Neapolitan carlino and was sometimes called a carlino.

The pierreale carried on the obverse the imperial eagle, the favoured emblem of the Staufer dynasty of Peter I's queen, Constance II. On the reverse, it featured the arms of Aragon, representing Peter's native kingdom.

After Alfonso I's conquest of Naples in 1442, he replaced the arms with an image of the seated ruler and replaced the eagle with the quartered arms of Aragon and Naples.

Gold pierreali equivalent to ten silver ones were minted under Peter I, but only rarely thereafter. Half-pierreali and quarter-pierreali were minted between 1377 and 1410 and again during the reign of John (1458–1479).

Here's a breakdown of the pierreale's denominations:

The Sardinian region has a rich history, and its currency is a great example of this. The Sardinian scudo was the currency of the Kingdom of Sardinia from 1720 to 1816.

It was subdivided into 2½ lire, each of 4 reales, 20 soldi, 120 cagliarese or 240 denari. The doppietta was worth 2 scudi.

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 in gold.

The Sardinian scudo was replaced by the Sardinian lira in 1816, which was subdivided into 100 centesimi.

The Roman scudo was the currency of the Papal States from 1835 to 1866. It was subdivided into 100 baiocchi, each of which was further divided into 5 quattrini.

The scudo was used in many municipalities, including Ancona, Ascoli, Bologna, Civitavecchia, Fano, Fermo, Foligno, Gubbio, Macerata, Matelica, Montalto, Pergola, Perugia, Ronciglione, San Severino, Spoleto, Terni, Tivoli, and Viterbo.

The Siena, Republic gold Fiorino Largo is a beautiful coin that was struck in the city-state of Siena, and it features an S mint mark on one side, which indicates its origins.

It's believed to have been struck between 1404 and 1555, but the precise date is unknown because the coin doesn't feature the portrait of a king or emperor.

This coin is smaller than a ducat or a florin, and it's made from pure gold, which increases its value.

The Siena, Republic gold Fiorino Largo was graded "good/very fine" because of the partially worn-out patina and details, but its gold content makes it a valuable collector's item.

It sold for $2,300 at a 2018 auction, which is a testament to the coin's historical significance and rarity.

The Papal States had a complex coinage system, especially when it comes to the scudo.

The Papal States scudo was the main currency used from 1866 until it was replaced by the lira.

This scudo was subdivided into 100 baiocchi, with each baiocco further divided into 5 quattrini.

The scudo was used in various denominations, including the grosso, carlino, giulio, paoli, testone, and doppia.

Between 1798 and 1799, the French forces established the Roman Republic, which issued coins denominated in baiocco and scudo.

The Papal States were annexed by France in 1808, and French francs circulated as the official coins.

The scudo was restored as the currency in 1814, but the coinage of individual states was not resumed.

In 1866, the scudo was replaced by the lira, with an exchange rate of 5.375 lire = 1 scudo.

The Papal States had its own coinage system, the scudo, which was subdivided into 100 baiocchi. Each baiocco was further divided into 5 quattrini.

Other denominations included the grosso of 5 baiocchi, the carlino of 7+1⁄2 baiocchi, the giulio and paoli both of 10 baiocchi, the testone of 30 baiocchi, and the doppia of 3 scudi.

The French forces briefly introduced the Roman Republic's coinage system, denominated in baiocco and scudo, between 1798 and 1799.

The Lazian baiocco is an ancient Italian currency denomination that was largely used in Central Italy, especially in Latium. Its value was originally equivalent to a shilling.

Over time, the value of the baiocco slowly changed into five quattrini, or twenty pennies. The size, weight, and value of the coin itself changed over time.

At a certain point, towards the middle of the 16th Century, the baiocco became so thin that it deserved the nickname "Baiocchino" or "Baiocchétto" because it actually weighed less than 0.25g.

It underwent numerous other variations of material losing more and more silver and becoming more and more low alloy, so much so that it was indicated with the derogatory "Baiocchella" during the period of Sixtus V from 1585 to 1590.

The baiocco disappeared after the unification of Italy between 1861 and 1870, when the Italian lira was introduced.

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The Milanesian soldo was an Italian medieval silver coin, issued for the first time in the late 12th century at Milan by Emperor Henry VI.

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, and it remained in use even after the republic's dissolution in 1797 and during the Austrian occupation, until 1862.

The soldo equaled 1⁄20 of a lira and 12 denari in Florence in the 14th century.

Damaged euro coins can be a hassle, but the good news is that you can get reimbursed for them in Italy. The Bank of Italy will take them off your hands.

To be eligible for reimbursement, the coins must be unfit for circulation, which means they're defective or have been significantly altered due to circulation or accidental damage. This includes coins that are corroded, have damaged edges, or have been altered in any other way.

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If you're in possession of damaged euro coins, you can hand them in to any branch of the Bank of Italy. They must be packaged in compliance with Regulation (EU) No 1210/2010, which means you'll need to use standardized containers.

Here's what you need to know about packaging your damaged coins:

You'll also need to provide a list of the containers, each identified by a number, and make sure each container has the identifying details of the person submitting the package, the value and denomination contained, the weight, the date of packaging, and the container number.

The ancient Roman Republic's coins, such as the 193 BC Roman Republic Denarius, are highly sought after by collectors.

One of the rarest and most valuable Italian coins is the 1887 Italian 10 Lire coin featuring King Umberto I.

A 1926 Italian 1 Lire coin with a rare mint mark can sell for thousands of dollars.

The 1867 Italian 20 Centesimi coin is a highly valuable coin featuring King Victor Emmanuel II.

These coins are not only valuable but also a piece of Italian history, making them a prized possession for collectors.