Italy is a member of the European Union and uses the Euro (€) as its official currency.
- Euro coins come in denominations of 1, 2, 5, 10, 20, and 50 cents, as well as 1 and 2 Euros.
- Italian Euro coins feature a different design on the national side for each denomination, often depicting famous Italian artists and their masterpieces.
- Examples include Leonardo da Vinci’s Vitruvian Man on the 1 Euro coin, and a portrait of Dante Alighieri on the 2 Euro coin.
- Prior to adopting the Euro, Italy used the Italian Lira (ITL) from 1861 until its replacement in 2002.
- The lira was subdivided into 100 centesimi.
- Old lira coins and banknotes could be exchanged for Euros at the Bank of Italy until December 6, 2011.
- Many individuals collect Italian coins, including both the former lira and current Euro coins.
- Some older lira coins, particularly those with precious metal content or commemorating historical events like the Italian Unification, are considered valuable collector’s items.
- Rare Euro coins, like a 2002 Italian 1 Euro coin with a misminting, are also sought after by collectors.
If you are interested in purchasing Italian coins, you can find a variety of options on platforms like eBay and Etsy, including individual lira and Euro coins, as well as sets and rare finds.
What is the Italian coin called?
The official currency in Italy is the euro, symbolised by € and abbreviated as EUR. Italy has used the euro since 2002, when it replaced the Italian lira, the country’s previous currency.
What is a former Italian coin called?
Great question! The lira was the official unit of currency in Italy until 1 January 1999, when it was replaced by the euro (the lira was officially a national subunit of the euro until the rollout of euro coins and notes in 2002).
Are Italian lire coins worth anything?
The Italian Lira was replaced by the Euro in 2002 and Italian Lira coins and banknotes no longer have any monetary value. The exchange deadline for Italian Lira coins expired in 2011. However at Leftover Currency we continue to exchange coins from Italy for a value that covers their metal value.