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10 Lire Allied Military Currency

Issuer Allied Military Authority
Year 1943
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Value 10 Lire (10 ITL)
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Obverse description Brown note with black border frame; denomination numeral 10 in each corner with a large central guilloché underprint. Inscriptions in black with serial number printed in red.
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Reverse description Light turquoise underprint with the central inscription panel enclosed in a rectangle, flanked by radiating ray patterns above and below.
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Comments

Allied Military Currency for Italy was authorized under Allied Force Headquarters and rolled out ahead of the Sicily landings in July 1943. The notes were deliberately backed by nothing — the U.S. Treasury refused to guarantee them, and Britain's objections to that arrangement caused a genuine diplomatic row that dragged on well after the campaign ended. Italy was effectively being asked to absorb an unbacked occupation currency at par with the lira.

Forbes Lithograph produced the AM lire under contract using a simplified lithographic process suited to mass wartime output. The 10 Lire denomination, along with the rest of the series, was later blamed by Italian economists for contributing directly to the postwar inflation that destabilized the lira through 1947.

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