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The Governo Provvisorio di Venezia issued this note during the 1848–49 revolution against Austrian rule — the same uprising that saw Daniele Manin declare the restored Republic of San Marco in March 1848. Venice held out longer than any other revolutionary government in Italy that year, enduring an Austrian siege and aerial bombardment before finally capitulating in August 1849. These notes were a fiscal improvisation to keep the provisional administration solvent through the blockade.

The embossed seal served as the primary authentication device, reflecting both the limited security printing infrastructure available in besieged Venice and the urgency of production. Austrian forces did not recognize the notes' validity upon reconquest.