Papal lira


The Papal lira was the currency of the Papal States between 1866 and 1870.

History

In 1866 Pope Pius IX, whose temporal domain had been reduced to only the province of Latium, decided to join the Latin Monetary Union. A new currency, the lira, was introduced with the same value of the French franc and the Italian lira. It replaced the scudo at a rate of 5.375 lire = 1 scudo : the rate was calculated thanks to the silver value of the old scudo and the new lira. However, the Pope's treasurer, Giacomo Antonelli, devalued the purity of the Papal coins from 900/1000 to 835/1000, causing big problems for the Union, which later was forced to adopt the new standard. With the annexation of Rome to Italy in 1870, the Papal lira was replaced by the Italian lira at par.
The lira was subdivided into 100 cents and, differently from the other currencies of the union, into 20 shillings. However, all denomination in shillings had an equivalence in cents.

Coins

Copper coins were issued in denominations of 1 cent, ½,, 1, 2 and 4 shillings, with silver 5 and 10 shillings, 1, 2, 2½ and 5 lire, and gold 5, 10, 20, 50 and 100 lire.