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100 Lire Istituto Bancario San Paolo di Torino
| Issuer | Istituto Bancario San Paolo di Torino |
|---|---|
| Year | 1975-1977 |
| 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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| Designer(s) | Log in to see details |
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| In circulation to | Log in to see details |
| Reference(s) | Log in to see details |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | L'ISTITUTO BANCARIO SAN PAOLO DI TORINO 1025 ISTITUTO DI CREDITO DI DIRITTO PUBBLICO PAGHERÀ A VISTA PER QUESTO ASSEGNO CIRCOLARE LIT. LIRE CENTO A Torino VALE 100 LIRE ISTITUTO BANCARIO SAN PAOLO DI TORINO SEDE DI PIAZZA SAN CARLO (Translation: The Saint Paul of Turin Banking Institute 1025 Credit Institute of Public Law will pay for this cashier's check on sight One Hundred Italian Lire to Turin Value 100 Lire Saint Paul of Turin Banking Institute San Carlo Square Branch) |
| Reverse description | Log in to see details |
| Reverse lettering | ISTITUTO BANCARIO SAN PAOLO DI TORINO IL PRESENTE ASSEGNO PUÒ CIRCOLARE SOLTANTO IN ITALIA GIRATE VALE 100 LIRE (Translation: Saint Paul of Turin Banking Institute This check may be circulated only in Italy Endorsement Value 100 Lire) |
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| Comments |
San Paolo di Torino was one of a handful of Italian istituti di credito di diritto pubblico authorized to issue assegni circolari — essentially guaranteed bank drafts functioning as near-currency — rather than banknotes in the strict central-bank sense. The 100 Lire denomination existed because Italy suffered a chronic small-coin shortage through the 1970s, and these instruments plugged the gap that the Zecca couldn't fill fast enough in metal.
The watermark is the primary security feature precisely because these circulated at par with state-issued currency and needed at least minimal protection against reproduction. Counterfeiting small-denomination commercial paper was a genuine problem during this period.