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50 Centesimi
| Issuer | Banca Popolare di Milano |
|---|---|
| Year | 1871 |
| Type | Log in to see details |
| Value | 50 Centesimi (0.50 ITL) |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | C50 Banca Popolare di Milano Serie 864 BONO DI 50 CENTESIMI Il Censore Il Cassiere La Banca Popolare paga in valuta legale i Boni presentati alla Cassa pel valore di L. 50, 100, 250, 500, 1000 |
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| Protection type | Serial number |
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| Comments |
Italian private banks of issue operated under increasingly tight constraints after unification, and the Banca Popolare di Milano — founded in 1865 on cooperative principles rather than as a commercial or state institution — occupied an unusual legal position among them. Its authority to issue small-denomination fiduciary notes like this 50 centesimi piece was short-lived; the progressive consolidation of note-issuing rights through the 1870s and ultimately the 1893 creation of the Banca d'Italia effectively ended such privileges for cooperative institutions.
Small fractional notes of this period are disproportionately rare — low face value meant heavy handling, and few were preserved intentionally.