The Masterpiece of the Banca d'Italia

Elevate your collection to its ultimate peak with the 1997 500,000 Lire, the highest-value note of the Italian Lira’s final series. Known as the "Raphael" note, this piece is a stunning fusion of Renaissance art and state-of-the-art 20th-century security printing. This specific example is a Replacement Note (XA Prefix), printed in extremely limited quantities to replace damaged notes during the production run, making it significantly scarcer than standard issues.

Artistic & Cultural Masterpiece:

• Obverse (Front): Features a detailed portrait of the High Renaissance master Raphael (Raffaello Sanzio), based on his famous self-portrait. In the center, a reproduction of his fresco "The Triumph of Galatea" showcases the intricate engraving capability of the Italian state printer.

• Reverse (Back): Showcases one of the most famous works in Western art: "The School of Athens." This grand fresco depicts the world's greatest philosophers and scientists, including Plato and Aristotle, gathered under a magnificent vaulted ceiling.

• Watermark: Features the head of Raphael.

• Signatory: Antonio Fazio (Governor) and Speziali (Cashier).

Collector’s Specifications:

• Issuer: Banca d'Italia (Italy)

• Denomination: 500,000 Lire (Cinquecentomila)

• Date: 1997

• Pick Number: P-118* (Replacement designated by the asterisk and XA prefix)

• Serial Number: XA 092403 A

• Grading: PMG 64 Choice Uncirculated

• Status: Replacement Issue (Rarely seen in Gem or Choice UNC grades).

Collector's Perspective: When the Lira was replaced by the Euro, many of these high-denomination notes were redeemed for their significant value (equivalent to approximately €258 at the time). Very few uncirculated "Replacement" notes survived the exchange, as they were the first to be targeted for redemption. This PMG 64 example is a museum-quality survivor of Italy's economic and artistic peak.

 You will receive the note in the photos.