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100 Lire Istituto Bancario Italiano
| Issuer | Istituto Bancario Italiano |
|---|---|
| Year | 1976-1977 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Lira (1861-2001) |
| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | IL PRESENTE ASSEGNO PUÒ CIRCOLARE SOLTANTO IN ITALIA GIRATE autostrade CONCESSIONI E COSTRUZIONI AUTOSTRADE S.p.A. VALE 100 LIRE (Translation: This check may be circulated only in Italy - Endorsed by: Highway Concessions and Construction Ltd. Co. - Value 100 Lire) |
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| Protection type | Watermark |
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| Comments |
The Istituto Bancario Italiano was a Milan-based credit institution, not a central bank, and had no authority to issue legal tender. This note is a buono di cassa — a cashier's token used to substitute for small-denomination coins during the acute Italian coin shortage of the mid-1970s, when Italians were routinely given candy, telephone tokens, or these private scrip notes as change. The practice was technically illegal under Italian currency law but was widely tolerated by authorities who couldn't solve the underlying shortage fast enough.
Dozens of banks and commercial institutions issued similar buoni in this period. The Banca d'Italia eventually moved to suppress the practice by 1979.