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Republic of Italy, 100'000 Lire, in circulation 1967-1974

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Republic of Italy, 100'000 Lire, in circulation 1967-1974 (obverse) Republic of Italy, 100'000 Lire, in circulation 1967-1974 (reverse)

Lire have not been in circulation since 2002, the year in which Italy introduced the euro. The Italians had to exchange their old bills and coins for euros fresh from the mint. They did not have to do this immediately, but were given time until the end of 2011. Whoever owned lire after that, had to write it off. The conversion rate was 1936 lire to 1 euro. Yet Italians find old money under their matrasses, or in other original hiding places until this day. Some of the finds are spectacular. In 2014 a Sicilian family found 43 million lire, some 22.200 euros, in a large wicker bottle. An earlier inhabitant of the house had hidden his savings rather the bringing them to the bank. Plus he had told nobody else about them Another find, also in 2014, was that of a woman from the region around Rome, who found 100 million lire (51.600 euros) in an old chest.

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