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100 Lire

Issuer Piedmont-Sardinia, Kingdom of
Year 1765
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Size 274 × 110 mm
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Reverse description The reverse displays an overall vertical V-pattern guilloche underprint covering the entire surface of the note, serving as the principal security design element.
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Protection description Vertical V-pattern watermark extending over the entire surface of the note.
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Comments

Among the earliest formal paper money issued on the Italian peninsula, this note predates the unification period by nearly a century and was produced under the financial administration of the Kingdom of Sardinia during a period of chronic war debt and strained treasury reserves. The Savoyard monarchy had experimented with interest-bearing paper instruments since the 1740s, and by the 1760s the Biglietti di Credito had become a semi-regularized part of state finance rather than a true emergency measure.

The watermark is the primary anti-counterfeiting device — printing technology and engraving sophistication in Piedmont at this date were insufficient to offer much else.

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