Specifications
- Denomination
- 20 lire
- Series
- Italian Gold Lire — Umberto I (Marengo)
- Designer
- Filippo Speranza
- Years of issue
- 1879–1897
- Composition
- 90% Gold, 10% Copper
- Weight
- 6.45 g
- Diameter
- 21 mm
- Edge
- Reeded
- Mint marks
- R (Rome)
- KM
- KM#21
- Key mintages
- Full-series total not verified; 1891: 64,452 (cgbfr).
Melt value: $810.94
The 'marengo' of Umberto I: 6.45 g of .900 fine gold holding 0.1867 oz pure — Italy's Latin Monetary Union gold, struck at Rome from 1879 to 1897.
History
- When Umberto I succeeded Victor Emmanuel II in 1878, a new 20-lire series was issued for the king of Italy, struck at Rome (R) from 1879 to 1897 (it.wikipedia).
- The coin was minted to the French 20-franc standard of 6.45 g at 900/1000 fineness, the Latin Monetary Union specification that made the piece circulate interchangeably with French napoleons and Swiss Vreneli (it.wikipedia).
- The obverse shows Umberto I's bare head left, engraved by Filippo Speranza — his name appears under the neck — and the reverse shows Italy's crowned coat of arms with the Savoy shield between branches (it.wikipedia).
What is it worth
- Melt value = 0.1867 × the current gold spot price per troy ounce (Money Metals; it.wikipedia). Common dates in circulated condition trade near melt (Money Metals).
- Scarcer dates and high-grade examples carry numismatic premiums; a dealer-recorded mintage for 1891 is 64,452 pieces (cgbfr.com).
What drives the premium
- Value drivers: 0.1867 troy oz of pure gold sets the floor; date rarity, original mint luster, and the condition of the high-relief royal portrait set the premium (Money Metals; it.wikipedia).
How to identify the valuable variety
- Confirm the R mint mark — Umberto I 20 lire were struck at Rome from 1879 to 1897; the type is catalogued as KM#21 (it.wikipedia; barcalauctions.com).
- Check the obverse for the Speranza signature under the neck and the crowned coat of arms with the Savoy shield on the reverse (it.wikipedia).
- Scrutinize low-mintage dates in original condition — these carry the real premiums over the common-date bullion pieces (cgbfr.com; Money Metals).
Specifications
- Composition: 900/1000 gold (.900 fine) (it.wikipedia)
- Weight: 6.45 g (it.wikipedia; Money Metals)
- Gold content: 0.1867 troy oz AGW — 6.45 g × 0.900 (Money Metals); melt value = 0.1867 × the current gold spot price
- Diameter: 21.0 mm (it.wikipedia)
- Edge: Reeded (it.wikipedia)
- Designer: Filippo Speranza (engraver) (it.wikipedia)
- Mints: Rome (R) (it.wikipedia)
- Years: 1879–1897 (it.wikipedia)
Collector notes
- Quick authenticity screen: a genuine piece weighs 6.45 g and measures 21.0 mm with a reeded edge (it.wikipedia).
- See also the World Gold Coins hub for more classic gold issues.
Market check
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