1 Centesimo - Victor Emmanuel III

Italy's centesimo denominations from this period were produced under the early reforms of Victor Emmanuel III, who ascended the throne in 1900 following the assassination of his father Umberto I at Monza. The copper one-centesimo had negligible purchasing power even at issue — by the early 1900s a single lira bought dozens of such coins' worth of bread — yet the denomination persisted for accounting purposes in a decimal system Italians had inherited from the Napoleonic reorganization of 1803.

The series ran only six years before production ceased, with 1908 being the final year of the KM#35 type.