Papal States

The Papal States were largely incorporated into a united Italy in 1860. In 1866, it was in negotiations to join the LMU. Those negotiations failed but the Papal States adopted the lire and the LMU denominations anyway. In 1870, France was preoccupied with its war with Prussia and withdrew its protection of Rome. A united Italy took this opportunity to annex the remainder of the Papal States, which became extinct after over 1,000 years.

The Papal States lire were all minted under Pius IX. The obverse states the year of pontifical rule (i.e., 1867 can be XXI or XXII).

The 5 lire was minted in both gold and silver. It was one of the few examples of LMU coinage where the same denomination was minted in both gold and silver (Napoleon III and Vittorio II are the only other instances)

Circulation Coins

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100 Lire
(XXI, XXIII-XXIV)

1866, 1868-1869

50 Lire
(XXII-XXIV)

1868-1870

20 Lire
(Small Bust, XX-XXI)

1866-1867

20 Lire
(Medium Bust, “PON”, XXII-XXIII)

1867-1868

20 Lire
(Large Bust, “PIVX IX PON”, XXIII-XXV)

1868-1870

10 Lire
(Large Bust, “P.”, XXIII-XXV)

1866-1869

10 Lire
(Small Bust, PON, XXI-XXII)

1866-1867

5 Lire
(Small Bust, XXI-XXII)

1866-1867

5 Lire

1867-1870

2 1/2 Lire

1867

2 Lire
(Small Bust)

1866

2 Lire
(Medium Bust)

1867-1870

1 Lira
(Small Bust, XX)

1866

1 Lira
(Medium Bust)

1866-1868

1 Lira
(Large Bust, “M” Obverse, Dots Between PON)

1868-1869

1 Lira
(Large Bust, “MAX” Obverse, No Dots Between PON)

1866-1868

10 soldi (1/2 lira)
(“PON” Obverse)

1866-1868

10 soldi (1/2 lira)
(“P” Obverse)

1868-1869

5 soldi (1/4 lira)
(XXI-XXII)

1866-1867

Placeholder: Mintage data by denominaton

Error in NGC & PCGS Population Registry

The is a 20 lire variation in both the NGC and PCGS population reports that does not exists. Inconsistencies or errors in the NGC and PCGS population reports are not uncommon. However, this error is unusual as it’s rather glaring and appears in both populations.

As shown above, the 20 lire has three busts (KM#1382.2, KM#1382.3, KM#1382.4). The mistake originated in the Krause book, which states that KM#1382.3 (medium bust) includes 1868.

PCGS: “Medium” Bust and “Large” Bust

The Medium Bust has 3 graded examples - 1x MS63 and 2x AU55. The only example available, an AU55, is a large bust sold at Stack’s in 2017.

NGC: 1868 XXIII “PON” (Medium Bust) and “PIVS IX PON” (Large Bust)”

There are two MS examples of the NGC 1868 XXIII “PIVS IX PONS”: an MS65 — which is clearly an XXII and shows the medium bust / PON on the obverse- — and an MS61 that is an XXIII but has a large bust / “PIVS IX PON” on the obverse.

Note: KM# 1382.1 refers to a flat/smooth-edge 1866 XX. It is unclear whether this variation actually exists. There is only graded example and the edges are not visible in the certification pictures.