100 Lire - Victor Emmanuel III

Issued as Mussolini's regime was consolidating its economic nationalism, this gold 100 Lire series was produced in limited quantities across just three years before Italy's financial pressures effectively ended regular gold coinage for circulation. The Fascist government had already signed the Lateran Treaty in 1929, stabilizing the lira at the "Quota 90" rate Mussolini had forced through in 1927 — a politically driven revaluation that overpriced Italian exports and quietly drained gold reserves throughout this coin's production window.

KM#72 pieces dated 1931 carry the year in both Gregorian and Fascist Era notation, the latter counting from 1922.