Science Fair Project Encyclopedia
|Vittorio Emanuele II: 1 Italian lira 1863|
The term originates from the value of a Troy pound weight (Latin libra) of high purity silver, and as such is a direct cognate of the British pound sterling; in some countries, such as Cyprus, the words lira and pound are used as equivalents. L, sometimes in a crossed script form (₤), is usually used as the symbol.
Perhaps the best known "lira", the Italian lira (plural lire) was the official unit of currency in Italy until January 1, 1999, when it was replaced by the euro (euro coins and notes were not introduced until 2002). Old lira denominated currency ceased to be legal tender on February 28 2002. The conversion rate was 1936.27 lire to the euro.
The Vatican lira (plural lire) was the official unit of the Vatican City State. Vatican City. It was on par to the Italian lira on the terms on the concordat with Italy. Italian lira notes and coins were legal tender throughout the Vatican City State. Specific Vatican coins were minted in Rome, being legal tender also in Italy and San Marino.
The Vatican City state has switched to the euro like Italy. As with old vatican lira coins, the Vatican City has its own set of euro coins.
The San Marino lira (plural lire) was the official unit of San Marino. It was on par to the Italian lira.
Italian lira notes and coins were legal tender in San Marino, but specific San Marinese coins were minted in Rome, being legal tender in all Italy, as well as the Vatican City.
San Marino has switched to the euro like Italy. As with old San Marino lira coins, this country has its own set of euro coins.
The Cyprus pound qualifies also, since it is called "lira" in the local languages.
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