2 lire 1935

Common. This is a regular issue note with a long circulation period (1935-1944 and beyond), and eBay market data shows consistent sales in the $0.99 to $20.50 range across multiple condition grades, with UNC catalog values of $12.50 as of 2016. The volume of sales and modest pricing across all grades indicate substantial print runs and ready availability in the collector market. No evidence of scarcity or recall.

This note was issued under Royal Decree of May 20, 1935, during the Fascist era under Mussolini's government, with a subsequent Ministerial Decree reaffirming its circulation on November 23, 1944, following Italy's transition after World War II. The classical female portrait and ornate Art Deco/Art Nouveau styling reflect the regime's aesthetic preferences and its appropriation of classical Italian imagery, while the 'BIGLIETTO DI STATO' (State Banknote) designation and treasury ministry imprint underscore the centralized monetary control of the period.

The obverse features a classical female allegorical portrait in profile (representing Italia herself) rendered in green intaglio within an elaborate Art Nouveau-style circular medallion with ornate scrollwork and acanthus leaf borders. The design emphasizes symmetry and classical refinement typical of 1930s Italian state currency. The reverse displays a highly ornamental composition centered on an octagonal cartouche with elaborate floral and geometric Art Deco patterns, flanked by large decorative numeral '12' on each side (doubling the denomination to prevent confusion), with spiraling corner ornaments and fine line background work throughout. The cream and tan underprinting provides contrast to the green and orange chromatic scheme.

FRONT: 'ITALIA' (Italy); 'MINISTERIO DEL TESORO' (Ministry of the Treasury); 'BIGLIETTO DI STATO' (State Banknote); 'A CORSO LEGALE' (Legal Tender); 'DVE LIRE' (Two Lire); 'IL DIRETT. GEN. DEL TESORO F.F.' (The Director General of the Treasury, acting); 'IL CASSIERE SPECIALE' (The Special Cashier); 'VF PER LA CORTE DEI CONTI' (Visaed for the Court of Accounts); Serial numbers: 962954 and 054. BACK: 'R.D.L. 20 MAGGIO 1935. N. 874' (Royal Decree Law, 20 May 1935, No. 874); 'D. MIN. 23 NOVEMBRE 1944' (Ministerial Decree, 23 November 1944); 'LA LEGGE PUNISCE I FABBRICATORI E I SPACCIATORI DI BIGLIETTI FALSI' (The law punishes the makers and distributors of counterfeit banknotes); Large ornamental numerals '12' repeated on both sides.

Intaglio engraving (rotogravure) executed by Istituto Poligrafico dello Stato in Rome, with multiple color printing. The complex background patterns, fine line work, ornate borders, and sharp portrait detail visible in the uncirculated specimen are characteristic of high-security intaglio production. The repeated security elements, including dual serial numbers and anti-counterfeiting warning text, reflect professional security printing standards of the mid-1930s Italian treasury.

This specific example carries serial number 962954 with prefix 054. The note exhibits the standard 1935 design with the November 1944 Ministerial Decree reaffirmation text on the reverse, indicating circulation continuance post-WWII. No overprints or substantial design variations are evident in this specimen. Signature varieties may exist among different treasury officials (Director General and Special Cashier positions), but these are not separately cataloged as distinct Pick varieties.