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1000 Lire 'Grande M' Testina and Banca d'Italia seals

Issuer Banca d'Italia
Year 1943-1950
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Value 1000 Lire (1000 ITL)
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Reverse description Central vignette of a bearded male allegorical figure representing Credit, holding a cornucopia; to the left, an allegorical figure of Industry; to the right, a figure representing Commerce. In the right oval, a turreted head of Italia, which also serves as the watermark element.
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Protection type Watermark
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Comments

The "Grande M" designation in the catalog name refers to the large watermark letter M visible in the paper — a Banca d'Italia security feature from this period, distinct from the later Testina watermark that gives the final emission variant its own colloquial name. The two watermark types matter enormously to attribution: same Pick number, different paper stocks, different production windows across the 1943–1950 span.

This series circulated through the collapse of the Fascist government, the German occupation, the Allied liberation, and into the early Republic — about as turbulent a passage as Italian paper money has ever had. Notes absorbed that history physically; genuinely uncirculated examples from the 1943 printings are rare for obvious reasons.

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