Each of the main Italian pre -unity states had its own currency, understood as account unit: the Lira Sabauda It was used in the Kingdom of Sardinia; there Austrian lira in Lombardo-Veneto; The florin in the Grand Duchy of Tuscany; the shield in the Papal States; The duchy in the kingdom of the two Sicilies. Each kingdom also established its own laws for the production and circulation of coins, which were coined in numerous cuts. After the unification of Italy, all currencies were replaced by the Italian lirawhich had the same value as Lira Sabauda And it remained in force until 2002, when, as we know, it was replaced by the euro.
Monetation in Italy
The Italian peninsula was the scene of frequent political revolutions and on its territory they followed one another numerous political entitiesconsequently also the currencies in force over the centuries of the Middle Ages and the modern age have been numerous. After the Congress of Vienna of 1815, The number of Italian political entities was reducedbut the territory of the peninsula continued to be divided into various states.
Each state had its own currency and only after the unification of Italy, thanks to the Law no. 788 of 24 August 1862the pre -unity coins were replaced by the Italian lira. It should be remembered that in the past the coins were produced with theuse of precious metals, in the quantity indicated by law: copper for those of less value, silver for those “intermediate”, and gold for those of greatest value.
The lira of the Kingdom of Sardinia
In the Kingdom of Sardinia, which included Piedmont, Liguria, Valle d’Aosta, Sardinia and the locations sold in 1861 to France, that is Nice and Savoy, the currency in force was the Lira Sabauda, introduced in 1816 To replace previous coins: the Piedmontese shield and the Sardinian shield. The lira was divided into cents and coined in various cuts, from one hundredth to one hundred lire.
From the lira Sabauda derives the Italian lira because, as we know, the Kingdom of Sardinia It was the preunity state that took place At the helm of the Italian unification process and, when the unit was proclaimed, the kingdom of Italy adopted, with few exceptions, The laws and the economic system of the Kingdom of Sardinia. Lira Thus became the Italian currency.
The Austrian lira of the Lombardy Veneto kingdom
The Lombard-Veneto kingdom, officially established in 1815, was not independent but it belonged to the Empire of Austria. Inside circulated the Austrian lira, which was “anchored” to the Fiorino, the official currency of the Empire: a lira is worth A third of Fiorino. In addition to the coins in lire coined in the ticks of Milan and Venice, other Austrian coins circulated in the territory, such as fading, equivalent to a lira. When the unification of Italy was built, the exchange rate of 0.86 Italian lire was established for an Austrian lira.
The Tuscan Fiorino
Until 1861, a sector of central Italy was divided into several small states. The biggest was the Grand Duchy of Tuscanywith capital Florence. In the Grand Duchy circulated the Fiorino Toscanointroduced in 1824 to replace the previous Lira Toscana and divided into One hundred money. Coins of various cuts were also widespread, such as i paoliwith a value of 40 money, and Francesconiwhich were worth four florins. When Tuscany was annexed to the Kingdom of Italy, the exchange rate of 1.40 Italian lire for a florin was established.
The currencies of the Papal States
In the long history of Papal state, Which had its capital in Rome and was extended, in some periods, on a vast portion of central Italy, several currencies followed. In the years preceding the unification of Italy, based on one Reform promoted by Pope Gregory XVI in 1835the official currency was lo shielddivided into One hundred baiocchiin turn divided into five money. The mint coinable coins of different cuts, from a ten scudi four -seater.
In 1866, when the Papal States was reduced to the territory of Lazio alone and the unification of Italy had already been built, Pope Pius IX established that the same currency of the Kingdom of Italy was used in the kingdom (of which Rome, as we know, was not yet part because it would have been annexed only in 1870). The purpose of the reform was to bring the pontifical state into theLatin monetary uniona treatise of free monetary circulation stipulated between different European countries. The shield was therefore replaced by the pontifical lirawho had the same value as the Italian liraalthough it was coined separately. The exchange rate with the previous currency was 5.35 lire for a shield. When Rome was annexed to Italy, the pontifical lira was replaced by the Italian lira.
The duchy of the two Sicilies
The currency of the Kingdom of the two Sicilies it was the duchyintroduced in 1816, when the kingdom was officially constituted (previously, the kingdom of Naples and the Kingdom of Sicily were formally separated and adopted different currencies). The Duchy were Divided into 100 grain and 200 tourns.
The coins in circulation were between tournament and 30 ducats. There was no coin from a duchy And one of the most common pieces was the platewhich was worth 120 parmesan. The exchange rate with the Italian lira was established in 4.25 lire for a duchy.
