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50 Lire Buoi

Issuer Banca d'Italia
Year 1915-1920
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Value 50 Lire (50 ITL)
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Obverse description At right, a seated allegorical figure of Italia rendered in intaglio, helmeted and holding an olive branch, with a shield at her side; the central field is dominated by a large white oval watermark window at left, flanked by ornate guilloche borders with floral and foliate motifs. A circular red medallion vignette appears in the upper centre above the main title inscription, and the denomination numeral '50' is repeated in the corners within decorative cartouches.
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Reverse lettering Decreto ministeriale del 30 luglio 1896 La legge punisce i fabbricatori e gli spacciatori di biglietti falsi
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Comments

The "Buoi" nickname — Italian for oxen — comes from the agricultural vignette on the reverse, an unusual choice for a wartime note from a central bank under enormous fiscal pressure. Banca d'Italia was printing heavily throughout this period to fund Italy's participation in the First World War, and the 50 Lire denomination circulated hard. Giovanni Capranesi was a prolific designer for the Officina della Banca d'Italia; his work on this series reflects the institution's preference for keeping production entirely in-house rather than contracting foreign security printers, as some smaller European central banks were forced to do.

The signature run is exceptionally long — sixteen dated issues across five years, with Stringher and Sacchi bookending the series either side of a brief Canovai period in 1919. Bonaldo Stringher was Governor from 1900 to 1930, one of the longest tenures in the bank's history.

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