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100 lire ICCREA

Issuer Istituto di Credito delle Casse Rurali e Artigiane (ICCREA), Rome
Year 1977
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Currency Lira (1861-2001)
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Reverse description Brown letterpress print on a full green wave-pattern guilloche underprint enclosed within a green rectangular border; the denomination ***100*** lire is printed in large bold numerals at centre, flanked by asterisk ornaments, with the issuer name ICCREA in large capitals below and the full institutional title along the bottom edge. A narrow plain left panel carries the endorsement area with the circulation restriction legend printed vertically in black.
Reverse lettering Il presente assegno può circolare soltanto in Italia GIRATE
vale ***100*** lire ICCREA ISTITUTO DI CREDITO DELLE CASSE RURALI E ARTIGIANE Roma
(Translation: This check may be circulated only in Italy Endorsement
Value 100 Lire ICCREA Credit Institute of Rural and Artisan Banks Rome)
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Comments

ICCREA — the central credit institution for Italy's rural and artisan cooperative banks — was not a commercial bank and had no authority to issue circulating currency. These 100 lire notes were issued as a private substitute for coinage during Italy's chronic small-change shortage of the 1970s, when the Italian state effectively lost control of the centime-equivalent denominations and tolerated a patchwork of ersatz currency from municipalities, businesses, and credit institutions.

The legality was always ambiguous. The Banca d'Italia eventually moved to suppress private coin substitutes, and most were withdrawn by the early 1980s.

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