500 lire 1946
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This is an exceptionally well-preserved example of the Italian 500 Lire note from 1946 (Pick P-70d), graded AU by the issuing authority. The note displays the characteristic dark red on pink underprint with intricate classical allegorical engravings featuring personifications of Law and Justice on the obverse, and Vine Growing on the reverse. The sharp, clear engraving quality and complete absence of circulation wear or damage make this an excellent collector specimen, particularly notable for its Mercury watermark and 'Monogram B-I' security feature.
Common. The eBay price data provided shows consistent sales in the $35-141 range for VF-EF specimens, with catalog values in 2016 listing UNC at $650. The relatively modest pricing and frequent auction appearances indicate this note is common in the market. While AU specimens command higher prices than circulated examples, the denomination (500 Lire) was a standard circulation note issued over a four-year period (1943-1947) with substantial print runs. The regular appearance in online auctions with competitive bidding further supports a common classification.
Issued during the immediate post-World War II period (1943-1947) by the Banca d'Italia, this note reflects Italy's reconstruction era and the reinstatement of civilian financial authority after the fall of Mussolini's regime. The allegorical female figures representing Law and Justice on the obverse, paired with Vine Growing on the reverse, symbolize the restoration of legal order and agricultural recovery essential to Italy's post-war renewal. The classical Renaissance-inspired design language conveys a return to Italian cultural stability and institutional legitimacy.
The obverse features a large capital 'C' as the dominant central element, flanked by allegorical female figures representing Law (left) and Justice (right), both rendered in classical style with draped robes and classical attributes. A circular portrait medallion at bottom center depicts a classical female profile, likely representing Italia or a virtue. The composition is framed by ornate Renaissance-inspired borders containing cherubs (putti), scrollwork, and floral ornamental patterns. The reverse displays a full-length allegorical female figure in classical drapery representing Vine Growing (viticulture), positioned on the right side with architectural elements and a pedestal structure on the left. A prominent decorative monogram 'B' in an ornate circular frame appears at the bottom center, serving as the Banca d'Italia security identifier. Both sides feature denomination numerals '500' in the corners with classical rosette patterns.
OBVERSE: 'BANCA D'ITALIA' (Bank of Italy), 'INQUECENTO LIRE' (Five Hundred Lire), 'PAGABILE VISTA AL PORTATORE' (Payable on sight to bearer), 'IL GOVERNATORE' (The Governor), 'IL CASSIERE' (The Cashier), 'DECR. MIN. 21 MARZO AGOSTO 1943' (Decree Min. 21 March August 1943), 'LA LEGGE PUNISCE I FABBRICATORI DI BIGLIETTI FALSI' (The law punishes manufacturers of false bills), 'OPERA CONTRAFFATTA E.P.' (Counterfeiting punishable), 'RIN. BARDETTI IMV. E DIS.' (Designer attribution), 'E. BALLARINI INC.' (Engraver attribution). REVERSE: '500 LIRE' (Five Hundred Lire - appears twice), 'ART. 2 DELLA LEGGE 30 AGOSTO 1938 N. 248' (Article 2 of the Law of August 30, 1938 No. 248), monogram 'B' (Bank of Italy identifier).
Intaglio engraving (copperplate engraving), as evidenced by the fine line work, precise cross-hatching, detailed shading, and intricate relief patterns visible throughout both sides. The printing was executed by Officina Carte-Valori and/or I.P.S. in Rome, as noted in the catalog reference. The design credits 'RIN. BARDETTI IMV. E DIS.' (designer/inventor and drawer) and 'E. BALLARINI INC.' (engraver) are visible, indicating the participation of skilled engravers. The sharp clarity and depth of the engraving work observed in the AU-condition example is characteristic of high-quality intaglio production standards.
This note is cataloged as Pick P-70d, indicating it represents variety 'd' within the 500 Lire 1946 series. The identified features include: Seal Type 'Italia' / 'Monogram B-I', dark red on pink underprint, Mercury watermark, and the Officina Carte-Valori/I.P.S. printing. The visual analysis confirms the presence of the decorative 'B' monogram in the circular frame at bottom center of the reverse, consistent with the 'Monogram B-I' designation. The specific serial number observed (039219) and date range (1945-19.2.1947 per the community reference) place this within the documented variety parameters. No additional overprints, red seals, or other modifications typical of rarer varieties are evident.
