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50 Lire Banca Popolare di Milano
| Issuer | Banca Popolare di Milano |
|---|---|
| Year | 1976-1977 |
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| Value | Log in to see details |
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| Composition | Log in to see details |
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| Shape | Rectangular |
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|---|---|
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| Reverse description | The reverse is printed entirely in teal-green on white paper. A large vignette of the Banca Popolare di Milano's neoclassical headquarters building occupies the centre-right, set beneath the bank's name in bold block lettering. To the left, the interlocked "PB" monogram medallion is surrounded by a radiating guilloche background, with the endorsement panel inscribed "GIRATE" running vertically along the left border. The denomination "Lit. 50" appears vertically within a guilloche cartouche on the right margin, and the restriction legend runs along the lower edge. |
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| Protection type | Watermark |
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| Comments |
Italy's postwar small-change crisis never fully resolved itself, and by the mid-1970s coin shortages had grown acute enough that cooperative and savings banks were again issuing their own low-denomination emergency scrip — fiduciario, in the contemporary parlance. The Banca Popolare di Milano was among several institutions that stepped in with notes at the 50 and 100 lire levels between 1976 and 1977, effectively filling a gap the Banca d'Italia was unwilling or unable to close quickly.
These notes had no legal tender status outside the issuing institution's network, yet they circulated freely across Milan out of sheer necessity. The inclusion of a watermark on what was essentially emergency scrip is telling — there had been rampant counterfeiting of similar miniassegni issued by other banks in the same period.