Italian 20 Lira Gold Coins are historical artifacts dating back to the founding of the modern Italian kingdom and nation. They were made to the same specifications and to the same high standards as the famous Swiss, Belgian, and French 20 Francs coins. At.1867 ounces, each of these 20 Lira Gold Coins contains about a fifth of an ounce of gold. Such issues are an excellent way to supplement your retirement, investment, or coin collection portfolios with world gold.
Italian 20 Lira Gold Coins Background and History
Italy is one of the most recent modern European nations, having only joined the European Union in the late 1800s, much like Germany today. The historical attractiveness of the Italian 20 Lira Gold Coins as the heralds of this dynamic, energetic, and young Italian country and monarchy makes them an interesting world gold currency. Although Victor Emanuel’s face is the most well-known among collectors, the first portrait to grace these coins was that of King Umberto I of all Italy. Before ascending to the throne of the unified Kingdom of Italy in 1878, he served as Duke of Savoy. King Umberto ruled until his death in the year 1900, when he was assassinated. Beginning in 1879, his coins were circulated throughout Italy and Europe.
From 1862 to 1884, these pieces were produced at a number of different Italian mints. Prior to King Umberto I’s accession to the throne in 1878, coins were produced at Rome, Milan, Turin, and Genoa. All of the coins were then minted at the unified Italian Mint in Rome during the reign of Umberto I. Some of the 1882 coins were minted in beautiful red gold.
Italian 20 Lira Gold Coins Physical Characteristics
The front of a coin is referred to as the obverse in technical terms. On the obverse of the Italian 20 Lira Gold Coins is a portrait of the reigning king of the time. The portrait of King Umberto I included a rendition of the king with a mustache. His name, the phrase “RE D’ITALIA,” and the date of minting were all around his bust. The designs of later produced coins of better-known King Vittorio Emanuele III were identical, albeit the minting date was moved to the reverse of the coins.
In numismatics, the rear side of the coin is always referred to as the “reverse.” A wreath encircles the national coat of arms on previous Italian 20 Lira Gold Coins. Later designs featured an Italian rendition of liberty surrounded by the words “REGNO D’ITALIA,” which translates to “Kingdom of Italy.” The coin’s denomination of 20 liras is inscribed in the middle, with the date at the bottom.
Italian 20 Lira Gold Coins were closely modelled on the better known and wildly successful (especially) Swiss 20 Franc variants, as well as the French and Belgian 20 Franc gold pieces. They contain nearly a full fifth of an ounce of pure gold (.1867 ounces). Their specifications are as follows:
- Mass: 6.4516 g
- Diameter: 21.5 mm
- Thickness: 1.3 mm
- Content: 0.1867 troy oz
- Purity: 90.0% gold
Italian 20 Lira Gold Coins Pricing
Within the Kingdom of Italy, Italian 20 Lira Gold Coins have always had legal tender face value. This face value remained lawful until Italy abandoned its long-standing currency, the lira, in favor of the euro, the common market’s single currency. This implies they can’t be exchanged for 20 lire in Italy. In any case, no one in their right mind would part with such valuable diamonds for 20 lire. Their intrinsic value is above $200 due to the gold they contain. The premiums they bear over gold market prices are nearly completely based on the spot price of gold, while their historical and collectable aspect does play a role in the premiums they bear.
The genuine market pricing of Italian 20 Lira Gold Coins are determined by their inherent worth. This market price is crucial in establishing the worth of investment or retirement portfolios that include these coins. Despite their historical significance, these coins do not command a significant premium above spot gold. The mint’s not insignificant expenses in creating and circulating the coins are sufficient to account for the premium. Every day that the international gold markets are open, the real market value of these pieces grows and decreases in lockstep with gold prices. Simply browse to our homepage to see what the real-time gold price is at any given time while the markets are open for business.
Can IRA Accounts Contain Italian 20 Lira Gold Coins?
The Internal Revenue Service has ultimate authority over which international bullion precious metals coins may be included in your IRA retirement savings account. You have no control over the situation until they make their decision. These coins must meet stringent requirements for gold purity as well as low collectability. Aside from that, the government will only allow you to start a precious metals IRA account if you make an initial purchase of at least $5,000 in gold or silver bullion that has been approved by the government. You can make further purchases for merely $1,000 in additional coins. If you already have a traditional IRA account, you can simply roll it over into a self-directed IRA retirement vehicle. After your IRA account administrator obtains your bullion, it must be stored and safeguarded on your behalf by a third-party IRS licensed depository.
The required minimum is missing from Italian 20 Lira Gold Coins.
The IRS requires a gold purity level of 995 in any coin it certifies for IRAs. Instead, they have a substantially lower gold fineness of.900. The IRS would reject the coins for inclusion even if they met the requisite gold purity level because of their collectible nature. Even if the premiums over spot are not as big as they once were, world coin collectors continue to be interested in the coins. As a result, your retirement IRA account may not contain these fascinating, historically significant, and appealing Italian 20 Lira Gold coins. They’re still a good option for various types of retirement and investment accounts, as well as world gold coin collections. These 20 Lira Gold Coins are available from a wide selection of coin and bullion dealers around the world, not just in Europe, but also in the United States and other parts of the world where supplies are limited.