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100 Lire Istituto Centrale delle Banche Popolari Italiane
| Issuer | Istituto Centrale delle Banche Popolari Italiane |
|---|---|
| Year | 1976-1977 |
| Type | Emergency banknote |
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|---|---|
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| Reverse description | Grey and red print on a pale red guilloche underprint; the word GIRATE is set in bold capitals at the top, with the payee endorsement block (COOP. ROMAGNA MARCHE / IL PRESIDENTE) and a manuscript signature in the center, the large numeral 100 printed in red mid-field, and a circular institutional medallion vignette with a laureate female head at the foot. |
| Reverse lettering | IL PRESENTE ASSEGNO PUÒ CIRCOLARE SOLTANTO IN ITALIA GIRATE COOP. ROMAGNA MARCHE IL PRESIDENTE 100 |
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| Comments |
The Istituto Centrale delle Banche Popolari Italiane was not a central bank in any governmental sense — it functioned as a cooperative central body for Italy's network of popular banks, the banche popolari. These small-denomination notes from the mid-1970s were issued as fiduciary money during Italy's chronic coin shortage, a shortage so severe that shops, transit operators, and businesses routinely substituted telephone tokens, candy, and privately issued scrip rather than make change in lire.
The Banca d'Italia tacitly permitted this parallel circulation rather than address the underlying minting bottleneck. Notes of this type were redeemable only within the issuing institution's network, which created practical problems for anyone holding them outside that system.