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900 Scudi

Issuer Sacro Monte della Pietà di Roma
Year 1788
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Composition Paper
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Obverse lettering 900 QUINDICI GENNARO MILLE SETTECENTO OTTANTOTTO S. MONTE DELLA PIETA DI ROMA La presente Cedola vale Scudi Romani Novecento da giulj Dieci per Scudo da pagarsi all' Esibitore Registro Num. Vaglia per tutto lo STATO ECCLESIASTICO
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Reverse lettering 900
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The Sacro Monte della Pietà di Roma was one of the oldest pawnbroking institutions in Europe, established by papal charter in 1539 specifically to offer credit to the poor at low interest — a deliberate counter to usury. By the late eighteenth century it had evolved into something closer to a state bank, issuing fedi di credito that functioned as transferable bearer instruments well before most European powers had codified such instruments in law.

The 900 Scudi denomination is among the highest the institution issued, almost certainly not a retail circulation note — values at this level moved between merchants, ecclesiastical bodies, and the papal treasury itself. Few survive in any condition, and genuinely unaltered examples without subsequent endorsement inscriptions on the verso are rare.