Italy 500 lires - 1958 R

The coin's story

This 500 lire coin in 835 thousandths silver, known as the “caravels” coin, is the first large silver coin of the Italian Republic, put into circulation in August 1958 and struck until 2001. One side shows the three ships of Christopher Columbus, the Niña, the Pinta and the Santa María, chosen by Guido Veroi to symbolise the economic rebirth of post-war Italy. The other side bears a female bust in Renaissance style, surrounded by the arms of the Italian regions, the work of the chief engraver of the Rome Mint, Pietro Giampaoli. A first pattern, struck in 1957 and given to members of parliament, had the flags flying against the wind, which was corrected for the circulating coin. The edge bears the legend REPVBBLICA ITALIANA and the year of striking. The 1958 date has 24,240,000 pieces, the coin was demonetised on 28 February 2002.