Pre-euro lira italian

The Italian lira was Italy's official currency for nearly 150 years, replaced by the euro in 2002. Discover its history and curiosities.

About this subject

The Italian lira was introduced as the national currency in 1861, following the unification of Italy, and remained in circulation until January 1, 2002, when the euro took over. Over its lifetime, the lira underwent several monetary reforms, including post-World War II hyperinflation that led to the creation of the 'heavy lira' (lira pesante) in 1947. Most iconic banknotes featured figures like Leonardo da Vinci (on the 1,000 lire note) and Michelangelo (on the 10,000 lire note), while coins included designs such as the tree of life and the goddess Roma. The final conversion rate to the euro was 1,936.27 lire per euro. Interestingly, the word 'lira' derives from the Latin 'libra', a unit of weight. In popular culture, the lira is remembered for its low value: in the 1990s, an espresso cost about 1,500 lire. Today, collectors seek old notes, especially the 'Medici' series and the 500,000 lire notes.

Frequently Asked Questions

When was the Italian lira introduced?

The lira was introduced in 1861, with the unification of Italy, replacing various regional currencies.

What was the final exchange rate of the lira to the euro?

The fixed conversion rate was 1 euro = 1,936.27 lire.

Which lira banknotes are most famous?

The most famous notes include the 1,000 lire (Leonardo da Vinci), 10,000 lire (Michelangelo), and 50,000 lire (Bernini).