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20 Lire - Victor Emmanuel III Fascism Anniversary
| Issuer | Italy |
|---|---|
| Year | 1923 |
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| Composition | Log in to see details |
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| Reference(s) | KM#64 |
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|---|---|
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| Reverse description | A prominent upright fasces — the Fascist symbol of bundled rods — dominates the center of the field, surmounted by an axe whose blade is adorned with a ram's head in relief. To the left, the denomination 'LIRE 20' is inscribed on two lines, with the Rome mint mark 'R' below. To the right, two commemorative dates appear: 'OTTOBRE 1922', recalling the March on Rome and the Fascist seizure of power, and '1923', the year of issue. The design commemorates the first anniversary of the Fascist regime and is one of the earliest Italian coins to bear overtly political Fascist imagery. |
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| Reverse lettering | LIRE 20 OTTOBRE 1922 1923 R (Translation: 20 LIRE OCTOBER 1922-1923 R) |
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| Additional information |
Issued to mark the first anniversary of Mussolini's March on Rome in October 1922, this coin was authorized as the Fascist regime was still consolidating power — the Acerbo Law, which effectively guaranteed Fascist electoral dominance, wouldn't pass until July 1923. The mintage was deliberately limited, functioning more as a political artifact than a circulating coin.
KM#64 is one of the scarcer interwar Italian gold issues, with surviving examples frequently found in near-uncirculated condition precisely because so few entered commerce.