1 lira 1894

Common. Recent eBay market data shows consistent trading in the $82-$123 range for VF examples (2017-2024), with catalog valuations at $220 VF (2016). The series 033-119 designation indicates this was part of a standard production run. No indicators of restricted print runs, recalls, or short-lived issuance exist. The note's regular appearance at reasonable prices on the secondary market and the broad series range confirm this as a readily available banknote for collectors, though age and condition variations affect individual pricing.

Issued during the reign of King Umberto I (1878-1900), this Buono di Cassa (Treasury Bond/Note) was part of Italy's monetary system when the kingdom was consolidating its financial institutions following unification. The note's back features the Italian coat of arms with crown and cross, symbols of the unified Kingdom of Italy, and explicitly states that these bonds were 'guaranteed and fully covered by divisional Italian silver coins, immobilized in the state treasuries,' reflecting the gold/silver standard monetary policies of the period. The ministerial and court decrees dated September 1893, with the royal decree of July 1894, document the formal authorization and registration process required for such state financial instruments.

The obverse features a formal portrait of King Umberto I rendered in profile facing right, positioned within an elaborate circular frame decorated with scrollwork and geometric floral patterns. Stars flank the portrait on either side, adding royal dignity to the design. The right portion of the obverse contains the denomination and issuing authority text in a rectangular panel with decorative borders, typical of Italian Treasury notes of this era. The reverse displays the Italian national coat of arms—featuring a shield with a cross and crowned by a royal crown—centered within an ornate oval frame, flanked by decorative circular medallions. The architectural Art Nouveau-style border treatment on the reverse, combined with the formal heraldic imagery, reflects late 19th-century Italian state design aesthetics. Color palette of red-brown/green on obverse and blue/cream on reverse was characteristic of security printing of this period.

FRONT: 'REGNO D'ITALIA' (Kingdom of Italy) / 'BUONO DI CASSA a corso legale da UNA lira' (Treasury Bond at legal tender of one lira) / Serial number: 192080, Series: 057 / 'LE GBEE2 LUGLIO 1884 N°339' (July 2, 1884 No. 339) / 'IL CASSIERE SPECIALE' (The Special Cashier) / 'IL DELEGATO DELLA CORTE DEI CONTI' (The Delegate of the Court of Accounts) / 'Dell'880' (Of 1880) / BACK: 'DECRETO MINISTERIALE 15 SETT. 1893' (Ministerial Decree September 15, 1893) / 'REG.ª ALLA CORTE DEI CONTI IL 16 SETT.bre 1893' (Registered at the Court of Accounts September 16, 1893) / 'I BUONI DI CASSA POSTI IN CIRCOLAZIONE SONO GARANTITI E COPERTI PER INTERO DA MONETE DIVISONALI ITALIANE D'ARGENTO, IMMOBILIZZATE NELLE TESORERIE DELLO STATO, E RAPPRESENTANO QUESTO SCOPO' (The Treasury Bonds placed in circulation are guaranteed and fully covered by divisional Italian silver coins, immobilized in the state treasuries, and represent this purpose) / 'OFF.GOV. CARLO VALORI TORINO' (Official Government Carlo Valori Turin [Printing Office])

Intaglio engraving, executed by the Officina Governativa Carte-Valori (Official Government Printing Office for Security Documents) in Turin. The fine line work visible throughout both sides—evident in the ornate frame patterns, portrait detail, and heraldic imagery—is characteristic of steel engraving with multiple color printing (estimated three or more color passes to achieve the red-brown, green, and blue tones). The intricate decorative borders and fine cross-hatching served both aesthetic and security purposes, making the note difficult to counterfeit with period printing technology.

This note belongs to series 033-119 with watermark of waves, issued under Royal Decree of 22 July 1894 (visible vertically on front). The Pick catalog distinguishes this as P-34, separate from the earlier P-33 variety which had series 001-032 and Royal Decree of 4 August 1893. The specific serial number 192080 with series designation 057 places this note within the documented standard production range for this variety. No printer's marks, overprints, or signature variants are noted on this example.