Catalog
20 Lire
| Issuer | Consorzio degli Istituti di Emissione |
|---|---|
| Year | 1877-1881 |
| Type | Standard circulation banknote |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
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| Reverse description | Log in to see details |
| Reverse lettering | LIRE 20 LIRE - 20 CONSORZIO DEGLI ISTITUTI DI EMISSIONE REGNO D'ITALIA ITALIA (Translation: LIRE 20 LIRE - 20 CONSORTIUM OF ISSUING INSTITUTIONS KINGDOM OF ITALY ITALY) |
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| Protection type | Log in to see details |
| Protection description | Two oval watermark areas: Italia Turrita facing right within the left oval; numeral '20' within the right oval. |
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| Comments |
The Consorzio degli Istituti di Emissione was a short-lived cooperative arrangement among Italy's multiple note-issuing banks — Banca Nazionale nel Regno, Banca Nazionale Toscana, and others — formed to coordinate fiduciary circulation during a period when the lira was inconvertible and the state lacked a single central bank. These consortium notes were a political compromise, not an elegant monetary solution, and the arrangement was dissolved well before the Banca d'Italia's eventual consolidation in 1893.
The San Teodoro workshop in Rome was the Italian state's primary intaglio printing facility for securities during this period. P#6 is among the scarcer low-denomination consortium issues to survive intact.