5 centesimi 1918
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This is a 5 centesimi military payment note issued by the Cassa Veneta dei Prestiti on 2 January 1918, graded in Excellent Fineness condition. The note displays crisp impressions of black text on a light blue underprint with ornate decorative elements, including a scrollwork emblem on the obverse and a distinctive winged crest on the reverse. The specimen shown exhibits the hallmark characteristics of WWI-era Veneto treasury notes, with excellent eye appeal and no visible signs of circulation.
Common. The eBay market data shows consistent sales activity with examples in VF and EF grades selling regularly between $1.77 and $10.50 over the past 15 years, indicating healthy collector demand but no scarcity premium. The average EF example sells in the $3–$5.50 range. This denomination from this issuer appears to have been produced in sufficient quantities that examples remain readily available to collectors.
This note was issued during the final year of World War I by the Veneto regional treasury (Cassa Veneta dei Prestiti), representing Italy's desperate financial measures during the conflict. The winged emblem on the reverse and scrollwork designs reflect early 20th-century Italian heraldic and administrative symbolism, while the denomination in both numerals and words reflects the period's emphasis on anti-counterfeiting clarity. These military payment certificates served as emergency currency in the Veneto region during the war's concluding months.
The obverse features a formal layout with a central ornate emblem composed of symmetrical scrollwork and floral motifs characteristic of Austro-Hungarian and Italian administrative design of the period. The denomination '5' is presented in blue circular medallions flanking the central text block. The reverse displays a larger heraldic winged emblem—likely representing the Lion of San Marco or similar Venetian/Italian symbol—with a downward-pointing sword or dagger as the central element, emphasizing both regional pride and military authority. Both sides employ a fine geometric background pattern as an anti-counterfeiting measure. The color scheme of light blue/gray with dark blue and black text creates strong visual contrast while maintaining the understated aesthetic typical of emergency wartime currency.
OBVERSE: 'BUONO DI CASSA A CORSO LEGALE DA CINQUE-CENTESIMI' (Treasury note at legal tender value of five centesimi) / 'CASSA VENETA DEI PRESTITI' (Veneto Treasury of Loans) / '2 GENNAIO 1918' (2 January 1918) / 'SERIE Y0123' (Series Y0123) / 'N° 23,866' (Number 23,866) / Denomination: '5' (Five). REVERSE: '5' appearing in four corners / 'Saranno puniti i fabbricatori di buoni di cassa falsi, chi li usa, o chi li rimette in circolazione.' (Forgers of false treasury notes will be punished, as will those who use them or put them back into circulation.)
Letterpress printing with blue underprint, producing the black text on the note's surface. The fine geometric background pattern was likely applied as part of the underprint process. The crisp registration and sharp impressions observed suggest professional security printing techniques typical of official Italian treasury note production during WWI.
The observed specimen bears Series Y and serial number N° 23,866, suggesting this is a Y-series variant. The catalog data indicates PMG has identified 13 variants for this base Pick number (P-M1), including different denominations in Lire at higher values (P-M12a through P-M19a). This specific 5 centesimi note represents the lowest denomination in the Cassa Veneta dei Prestiti series and appears to be cataloged as the base P-M1 pick number variant.
