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The lira (plural lire; abbreviation: VAL) was the currency of the Vatican City between 1929 and 2002. It was not a separate currency but an issue of the Italian lira ; the Banca d'Italia produced coins specifically for Vatican City.
Coin production resumed slowly in 1946, reaching 1 million minted in 1948, with the purchasing power of the lira reduced to 2% of its value in 1939. Initially, 1 lira, 2, 5 and 10 lire coins were issued in aluminium. These coins were in circulation together with the AM-lire and some of the old, devalued coins of the Italian Kingdom.
While Vatican stamps may only be used within the Vatican City State and the quantity of euro coins is limited by treaty with Italy (the total value of all coins minted in 2002 was restricted to €310,400), [2] Vatican coins and stamps serve as an important sign of Vatican sovereignty, and their scarcity and design makes them popular with ...
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.
A 2012 report from the Council of Europe identified the value of a section of the Vatican's property assets as an amount in excess of €680 million (£570 million); as of January 2013, a papal official in Rome named Paolo Mennini manages this portion of the Holy See's assets—consisting of British investments, other European holdings and a ...
Neapolitan lira 1812–1813; merged into the Italian lira; Ottoman lira 1844–1923; became the Turkish lira; Papal lira 1866–1870; became the Vatican lira at par with the Italian lira; Parman lira before 1802 and 1815–1859; merged into the Italian lira; Sammarinese lira 1860s–2002; merged into the euro
All popes since Pius XI have had coin issues, including the brief reign of John Paul I, which is represented by a 1000-Lire silver piece struck posthumously. As the value of the Italian Lira declined in the years since World War II, new denominations in progressively higher values were introduced, with the lower values dropping off. All the ...
The first of August also saw the issuance of the first Vatican stamps (Italian stamps were used previously), in the "Conciliation" definitive series of 15 values. The low values, 5 to 75 centesmi, depicted the heraldic arms, while the higher values (80 centesmi to 10 lira) featured a full-face portrait of the reigning Pope Pius XI.