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From its initial value of 305.94 g fine silver, the Venetian lira had depreciated so much in value over its 1,000-year lifetime that this original unit was referred to from 1200 CE as the lira piccola (small lira) in comparison to larger units of the same name. [1]
The lira was made of 4.33 grams of silver (with 9/10 of purity). Six lire were equal to the scudo which was equivalent to the Austrian Conventionsthaler, hence they had no relation to the former currencies the Venetian lira and the Milanese scudo. The lira was divided into 100 centesimi (cents). Coins were minted in Milan, Venice and Vienna.
Venetian lira, c. 1471–1473. The Venetian lira (plural lire) was the distinct currency of the Republic of Venice until 1848, when it was replaced by the Italian lira. It originated from the Carolingian monetary system used in much of Western Europe since the 8th century CE, with the lira subdivided into 20 soldi, each of 12 denari.
The Milanese lira, Venetian lira, Lombardo-Venetian lira and Parman lira after 1814, at the rate of 270 Milanese lire = 45 Milanese scudi = 405 Venetian lire = 855 Parman lire = 207.23 Italian lire; [12] The Tuscan fiorino and the Tuscan lira in 1859, at 1 francescone = 4 fiorini = 6 + 2 ⁄ 3 Tuscan lire = 5.6 Italian lire;
lira (including lira Tron), minted from 1472. ducato, minted from 1284, with the same weight and title of Florence's florin. From the 16th century onwards it was called zecchino. giustina, name of different types of silver coins minted under doge Alvise II Mocenigo in 1572. A giustina minore ("lesser giustina") was minted under Pasquale Cicogna).
From 1980 until 2001, Lira 1 and Lire 2 coins were struck solely for collectors due to their low value, and in 1998 the Lire 5 was also sold for collectors only. Lire 10 and Lire 20 coins dated 2000 or 2001 were struck in sets only.
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The Venetian lira was one of the currencies in use in Italy and due to the economic power of the Venetian Republic a popular currency in the Eastern Mediterranean trade. During the 19th century, the Ottoman Empire and the Eyalet of Egypt adopted the lira as their national currency, equivalent to 100 piasters or kuruş .