Italy 500 Lire (Fakes are possible) 1957 to 2001

Check the edge of the coin for the date. It will be between 1958 and 2001 when these coins were minted.

This is an unusual coin because it contains silver well after most circulating coins shed their silver content. After 1964 in the US, for instance, 'silver' coins were made out of copper-nickel. Not so with Italian 500 lire. They contain 0.295 troy ounces of silver even up to 2001. After that the euro took over and that was the end of the silver.

To find the value of your 500 lire, multiply the current price of silver by 0.295. There are 0.295 troy ounces of silver in each coin. For instance, if silver is trading at $14 US dollars per troy ounce, the bullion value of an Italian 500 lire is 0.295 x $14 = $4. Be sure to check the price of silver. It changes every day. See kitco.com. A fully uncirculated coin may fetch a few dollars more than straight silver value.

There is an unusual variation of the 1957 coin called a test (PROVA) version. Genuine PROVA coins are very valuable. You can see the tiny PROVA designation on the L.500 side. The genuine coin in our picture below comes from Numismatica Ranieri, where it sold for over $9000. The fake is worth a few dollars. It is a good fake. Differences in pattern are barely noticeable. Genuine coins weigh 11 grams. Never invest any money in coins with someone you do not trust. Build that trust by dealing slowly over several years.

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