The Italian Mint introduced Italy Gold Lire during pre-1900. The design of this mint is in such a way that it varies depending with who is in leadership. These coins were used as a legal tender in Italy before eventually being replaced by the current currency in 2002. These coins remain most sought after since they were minted in limited quantities and furthermore the varying design is appealing for both collectors and investors.
The Italy Gold Lire comes in denominations of 5, 10, 20, 50, and 100. The 20 is the most common among the denominations and is the one you are likely to encounter the most.. The common 20 Lire is one which was minted during Umberto I and Emmanuel II reigns. The actual value of this coin is determined by the gold spot and is much more than the indicated face value. The 20 Lire spans 1.3mm in thickness with a width of 21mm and weighs 6.45g alongside containing 90.0% pure gold. The 50 Lire coin weighs 16.12g with a diameter of 28mm and the 100 Lire coin is 23.5mm wide with a weight of 8.8g with the same gold purity of 90.0%.
The obverse of the Italy Gold Lire depicts a profile image of the reigning kings facing left and this is in accordance with their years of ruling with the most common ones featuring Umberto I or Emmanuel II. Beneath this profile image, the year of mintage is indicated with the name of the king on the left side of the image and the inscription “RE D’ITALIA” on the right side. The reverse side features the coat of arms of Italy surrounded by olive and oak branches. The face value of the coin is also included in the reverse side.
The Italian Mint dates back to the Roman age in 269 BC. Its operations run from two different plants. The historical works are located at Via Principe Umberto, which was inaugurated in 1911. The fully refurbished works happen in Via Gino Capponi. The plant became operational in 1999. Trading in Italy Gold Lire is not subject to sales tax or VAT.