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100 Lire Banca Industriale Gallaratese
| Issuer | Banca Industriale Gallaratese S.p.A. |
|---|---|
| Year | 1976-1977 |
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| Value | Log in to see details |
| Currency | Lira (1861-2001) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | La BIG BANCA INDUSTRIALE GALLARATESE S.p.A. - SEDE IN GALLARATE Reg. Soc. n. 1604 Trib. Busto Arsizio Cap. L. 2.000.000.000 - Ris. L. 1.033.000.000 pagherà a vista per questo assegno circolare Lire *CENTO* all'ASSOCIAZIONE ARTIGIANI DELLA PROVINCIA DI VARESE 100 LIRE Gallarate BANCA INDUSTRIALE GALLARATESE |
| Reverse description | Log in to see details |
| Reverse lettering | GIRATE ASSOCIAZIONE ARTIGIANI DELLA PROVINCIA DI VARESE IL PRESIDENTE (Comm. Giannino Turri) 100 LIRE IL PRESENTE ASSEGNO PUÒ CIRCOLARE SOLO IN ITALIA |
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| Comments |
Banca Industriale Gallaratese was a small regional institution based in Gallarate, in the Varese province of Lombardy. These 100 Lire notes were emergency fiduciary scrip — locally produced to substitute for the small-denomination coin shortage that plagued Italy through the mid-1970s, when rampant inflation caused metal coins to disappear from circulation almost entirely. The phenomenon was widespread enough that Italian merchants, banks, cooperatives, and even telephone companies issued their own paper substitutes, creating a patchwork of quasi-currency that the Banca d'Italia ultimately moved to suppress.
Locally printed issues from smaller provincial banks like this one had extremely limited geographic reach and short operational lifespans, which kept surviving quantities low.