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The 500 silver lire were minted in Italy from 1957 to 2001 and were one of the most popular coins of the Italian Republic. They were valued not only for their face value, but also for their silver content, which made them a small investment.
What is the importance of the 500 lira of silver
The issue of the 500 silver lire is linked to a strongly desired initiative to celebrate important events and personalities in Italian history through valuable numismatic issues.
One of the first and most famous issues was the one dedicated to the 700th anniversary of the birth of Dante Alighieri in 1965. The coin depicted the profile of the Supreme Poet on the reverse. This commemorative issue was a great success and was followed by others dedicated to illustrious figures such as Leonardo da Vinci, Christopher Columbus and Galileo Galilei.
In 1961 a coin was issued to celebrate the Centenary of the Unification of Italy, an event of great historical importance for our country. Other issues celebrated significant anniversaries such as the fiftieth anniversary of the March on Rome in 1972.
These coins had great popularity among collectors since their first issue, not only for their message, but also for the combination of precious metal, refined designs and limited editions which immediately made them interesting for numismatics enthusiasts.
The last issue of this commemorative series took place in 1994 with a coin dedicated to the Football World Cup organized in Italy. Subsequently, the Bank of Italy stopped issuing 500 lire silver coins, putting an end to one of the most popular Italian numismatic series of the post-war period.
There are two main types of 500 lira silver coins
The caravel, commemorative coins issued from 1982 to 2001 to celebrate various events or historical figures, which bear the image of three caravels on the obverse and a specific design for each issue on the reverse. Their silver content is generally around 9.185 grams.
And the coins called Dante Alighieri: these are ordinary coins depicting the poet Dante Alighieri and which were minted starting in 1965. Their silver content is lower than that of the Caravelle coins.
The value of the 500 silver lire depends on several factors
First of all it depends on the type of coins, because commemorative caravel coins are generally more valuable than ordinary Dante Alighieri coins, since they were minted in smaller quantities and have a more refined design.
Their state of conservation is also very important, because, if never put into circulation and perfectly preserved, they are worth much more than worn or damaged coins.
Some caravel coins were issued in limited quantities, making them more rare and valuable.
Here is a rough overview of the current value of 500 silver liras
Dante Alighieri (ordinary): these coins generally have a value between 8 and 10 euros, unless they are in exceptional condition.
Caravelles (Commemorative): The value of these coins can vary more depending on the specific year and design. The most commonly traded caravel coins are around 3-4 euros, but some rarer issues can be worth several hundred euros.
