Vatican lira
Encyclopedia
The lira was the currency
of the Vatican City
between 1929 and 2002.
, by then reduced to a smaller area close to Rome
, used its own lira
between 1866 and 1870, after which it ceased to exist. In 1929, the Lateran Treaty established the State of the Vatican City
and, according with the terms of the Treaty, a distinct coinage was introduced, denominated in centesimi and lire, on par with the Italian lira
. Italian coins and banknotes were legal tender in the Vatican City. The Vatican coins were minted in Rome
and were also legal tender in Italy and San Marino
.
In 2002, the Vatican City switched to the euro
at an exchange rate of 1 euro = 1936.27 lira. It has its own set of euro coins
.
5 and 10 centesimi, nickel
20 and 50 centesimi, 1 and 2 lire, and silver
5 and 10 lire coins were introduced. In 1939, aluminium bronze
replaced copper and, in 1940, stainless steel
replaced nickel. Between 1941 and 1943, production of the various denominations was reduced to only a few thousand per year.
In 1947, a new coinage was introduced consisting of aluminium
1, 2, 5 and 10 lire. The sizes of these coins was reduced in 1951. In 1955, stainless steel 50 and 100 lire were introduced, followed by aluminium bronze 20 lire in 1957 and silver 500 lire in 1958. The 1 and 2 lire ceased production in 1977, followed by the 5 lire in 1978. Aluminium-bronze 200 lire were introduced in 1978, followed by bi-metallic
500 and 1000 lire in 1985 and 1997, respectively.
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
of the Vatican City
Vatican City
Vatican City , or Vatican City State, in Italian officially Stato della Città del Vaticano , which translates literally as State of the City of the Vatican, is a landlocked sovereign city-state whose territory consists of a walled enclave within the city of Rome, Italy. It has an area of...
between 1929 and 2002.
History
The Papal StatesPapal States
The Papal State, State of the Church, or Pontifical States were among the major historical states of Italy from roughly the 6th century until the Italian peninsula was unified in 1861 by the Kingdom of Piedmont-Sardinia .The Papal States comprised territories under...
, by then reduced to a smaller area close to Rome
Rome
Rome is the capital of Italy and the country's largest and most populated city and comune, with over 2.7 million residents in . The city is located in the central-western portion of the Italian Peninsula, on the Tiber River within the Lazio region of Italy.Rome's history spans two and a half...
, used its own lira
Papal States lira
-History:In 1866 Pope Pius IX, whose sovereignty was reduced to the sole Latium, decided to join the Latin Monetary Union. A new currency, the lira, was introduced with the same value of the French franc and the Italian lira...
between 1866 and 1870, after which it ceased to exist. In 1929, the Lateran Treaty established the State of the Vatican City
Vatican City
Vatican City , or Vatican City State, in Italian officially Stato della Città del Vaticano , which translates literally as State of the City of the Vatican, is a landlocked sovereign city-state whose territory consists of a walled enclave within the city of Rome, Italy. It has an area of...
and, according with the terms of the Treaty, a distinct coinage was introduced, denominated in centesimi and lire, on par with the Italian lira
Italian lira
The lira was the currency of Italy between 1861 and 2002. Between 1999 and 2002, the Italian lira was officially a “national subunit” of the euro...
. Italian coins and banknotes were legal tender in the Vatican City. The Vatican coins were minted in Rome
Rome
Rome is the capital of Italy and the country's largest and most populated city and comune, with over 2.7 million residents in . The city is located in the central-western portion of the Italian Peninsula, on the Tiber River within the Lazio region of Italy.Rome's history spans two and a half...
and were also legal tender in Italy and San Marino
San Marino
San Marino, officially the Republic of San Marino , is a state situated on the Italian Peninsula on the eastern side of the Apennine Mountains. It is an enclave surrounded by Italy. Its size is just over with an estimated population of over 30,000. Its capital is the City of San Marino...
.
In 2002, the Vatican City switched to the euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
at an exchange rate of 1 euro = 1936.27 lira. It has its own set of euro coins
Euro coins
There are eight euro coin denominations, ranging from one cent to two euros . The coins first came into use in 2002. They have a common reverse, portraying a map of Europe, but each country in the eurozone has its own design on the obverse, which means that each coin has a variety of different...
.
Coins
In 1929, copperCopper
Copper is a chemical element with the symbol Cu and atomic number 29. It is a ductile metal with very high thermal and electrical conductivity. Pure copper is soft and malleable; an exposed surface has a reddish-orange tarnish...
5 and 10 centesimi, nickel
Nickel
Nickel is a chemical element with the chemical symbol Ni and atomic number 28. It is a silvery-white lustrous metal with a slight golden tinge. Nickel belongs to the transition metals and is hard and ductile...
20 and 50 centesimi, 1 and 2 lire, and silver
Silver
Silver is a metallic chemical element with the chemical symbol Ag and atomic number 47. A soft, white, lustrous transition metal, it has the highest electrical conductivity of any element and the highest thermal conductivity of any metal...
5 and 10 lire coins were introduced. In 1939, aluminium bronze
Aluminium bronze
Aluminium bronze is a type of bronze in which aluminium is the main alloying metal added to copper, in contrast to standard bronze or brass...
replaced copper and, in 1940, stainless steel
Stainless steel
In metallurgy, stainless steel, also known as inox steel or inox from French "inoxydable", is defined as a steel alloy with a minimum of 10.5 or 11% chromium content by mass....
replaced nickel. Between 1941 and 1943, production of the various denominations was reduced to only a few thousand per year.
In 1947, a new coinage was introduced consisting of aluminium
Aluminium
Aluminium or aluminum is a silvery white member of the boron group of chemical elements. It has the symbol Al, and its atomic number is 13. It is not soluble in water under normal circumstances....
1, 2, 5 and 10 lire. The sizes of these coins was reduced in 1951. In 1955, stainless steel 50 and 100 lire were introduced, followed by aluminium bronze 20 lire in 1957 and silver 500 lire in 1958. The 1 and 2 lire ceased production in 1977, followed by the 5 lire in 1978. Aluminium-bronze 200 lire were introduced in 1978, followed by bi-metallic
Bi-metallic coins
Bi-metallic coins are coins consisting of more than one metal or alloy, generally arranged with an outer ring around a contrasting center. Common circulating examples include the €1, €2, British £2, Canadian $2, South African R5, Turkish 1 lira, and all Mexican coins of $1 or higher...
500 and 1000 lire in 1985 and 1997, respectively.
See also
- Vatican euro coinsVatican euro coinsVatican euro coins are issued by the Philatelic and Numismatic Office of the Vatican City State and minted by Istituto Poligrafico e Zecca dello Stato , in Rome, Italy...
- Philatelic and Numismatic Office of the Vatican City StatePhilatelic and Numismatic Office of the Vatican City StateThe Philatelic and Numismatic Office of the Vatican City State is responsible for issuing Vatican postal stamps and Vatican coins.While Vatican stamps may only be used within the city of Rome, and the quantity of euro coins is limited by treaty with Italy , Vatican coins and stamps serve as an...
- Economy of the Vatican CityEconomy of the Vatican CityThe unique, noncommercial economy of Vatican City is supported financially by contributions from Roman Catholics throughout the world, the sale of postage stamps and tourist mementos, fees for admission to museums, and the sale of publications.The Vatican also conducts worldwide financial...