5 Euro Air Force

Issued as part of Italy's ongoing themed collector series honoring the national armed forces, this piece commemorates the Aeronautica Militare, which marked its centenary in 2023 — founded in 1923 as one of the world's first independent air forces. The Regia Aeronautica, as it was originally constituted, separated from army and naval aviation at a moment when most powers still embedded air units within existing branches.

The IPZS collector five-euro silver series has run across multiple denominations and subjects since the early 2000s, with face values that bear no practical relation to circulation.