1 lira 1935

Common. The eBay market data provided shows consistent sales across multiple condition grades ranging from $0.99 to $36, with UNC examples selling for $1.80 to $16.38 in recent years. Catalog values from 2016 list UNC at only $3. This widespread availability at low prices, combined with substantial volume of sales transactions across all grades, indicates this is a common issue with no print run restrictions or collector scarcity. The Royal Decree authorization and subsequent 1944 reissue suggest a substantial printing quantity to meet post-war circulation needs.

Issued under Royal Decree of May 20, 1935, this banknote represents Italy's pre-World War II currency system under Mussolini's Fascist regime. The classical iconography—featuring a laurel-crowned female portrait reminiscent of ancient Roman coinage—reflects the regime's deliberate invocation of Imperial Roman imagery to legitimize its authority. The note's reissue date of November 23, 1944, places it within the tumultuous final year of World War II, making this a tangible artifact of Italy's economic and political transition.

The obverse features a classical female profile portrait in the left circular medallion, depicted wearing a laurel wreath or crown in the style of ancient Roman coins—a deliberate reference to Imperial iconography. The portrait is surrounded by an elaborate circular frame adorned with stars and intricate decorative scrollwork, floral motifs, and geometric patterns characteristic of interwar Italian design. The right side displays denomination text and Treasury ministry information. The reverse presents a symmetrical green-printed design with three circular medallions (one central, two flanking), each contained within ornate frames with fine geometric patterning. The central medallion carries the warning text about counterfeiting. The overall design represents high-quality steel engraving with multiple security elements through complex line work and layered decorative patterns.

FRONT: 'MINISTERO DEL TESORO' (Ministry of the Treasury) | 'BIGLIETTO DI STATO A CORSO LEGALE' (State Banknote at Legal Tender) | 'VNA LIRA' (One Lira) | 'IL DIRETT. GEN. DEL TESORO' (The Director General of the Treasury) | 'IL CASSIERE SPECIALE' (The Special Cashier) | 'VG PER LA CORTE DEI CONTI' (Inspector General For the Court of Accounts) | Serial numbers: 510, 754299. BACK: 'R.D.L. 20 MAGGIO 1935. N. 874' (Royal Decree Law of May 20, 1935, No. 874) | 'LEGGE PUNISCE I FABBRICATORI E GLI SPACCIATORI DI BIGLIETTI FALSI' (The law punishes the manufacturers and distributors of counterfeit banknotes) | 'D. MIN. 23 NOVEMBRE 1944' (Ministerial Decree of November 23, 1944) | 'I.P.S. OFF. CARTE VALORI' (I.P.S. Printing Office for Securities/Istituto Poligrafico dello Stato—Officina Carte-Valori)

Steel engraving (intaglio), executed by Istituto Poligrafico dello Stato / Officina Carte-Valori in Rome. The note demonstrates traditional deep-line engraving with careful attention to security printing, evidenced by the intricate geometric patterns, fine parallel lines, and complex circular medallion designs that would be extremely difficult to counterfeit. Multiple color passes (pink-brown obverse, green reverse) applied to aged bond paper contribute to the note's distinctive appearance and tactile security features.

This note is identified as Pick 29b, representing the 1944 Ministerial Decree reissue of the original 1935 Royal Decree note (Pick 29a). The visual analysis shows signatures of three officials: 'IL DIRETT. GEN. DEL TESORO,' 'IL CASSIERE SPECIALE,' and 'VG PER LA CORTE DEI CONTI,' which are typical for this issue. Serial number prefix '510' with serial 754299 is observed. Minor signature variations and serial number ranges may constitute collecting varieties, though no major varieties are documented for this Pick number. The note's condition and coloration are consistent with standard examples from the 1944 reissue.