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The Governo Provvisorio di Venezia issued this note during the 1848–49 revolution against Austrian rule, when the restored Republic of San Marco under Daniele Manin was effectively cut off from any functioning monetary system. With Austrian forces blockading the city and silver coin disappearing from circulation almost immediately, emergency paper denominations became the only practical medium of exchange for small transactions.

The official stamp served as the primary authentication device — a vulnerability the besieged administration accepted out of necessity rather than choice. Forgeries were a known problem even within the short life of the issue.

Venice capitulated to Austria in August 1849, after which these notes were rendered worthless and most were discarded.