1970 Italy 500 Lire – Arethusa & Eagle with Snake

Pick# 93a | Printed by Istituto Poligrafico e Zecca dello Stato

Issued on 23 February 1970, this 500 Lire banknote from Italy belongs to the earlier “Biglietto di Stato a Corso Legale” series and features classical imagery rooted in mythology and symbolism. The obverse presents the head of Arethusa, a nymph from Greek mythology associated with transformation and water, while the left side depicts an eagle grasping a snake—a motif of power and triumph.

This note was issued by the Ministry of the Treasury, not the Banca d’Italia, making it a distinctive piece of state-backed legal tender from Italy’s pre-Euro era.

Design Highlights

Obverse:
Portrait of Arethusa at right, framed by dolphins
Eagle with snake at left, symbolizing dominance and vigilance

Text: Repubblica Italiana – Cinquecento Lire

Signatures: Viaggio / Gubbio / Maresca

Reverse:
Geometric patterns and repeating denomination
Clean, symmetrical layout with Latin script

Watermark:
Emblem of Italy: five-pointed star in a wreath

Specifications
Attribute Details
Country Italy
Year 1970
Denomination 500 Lire
Issuer Ministry of the Treasury (Ministero del Tesoro)
Printer Istituto Poligrafico e Zecca dello Stato
Designer Renato Mura
Size 110 × 55 mm
Material Paper
Pick Number P# 93a
Watermark Emblem of Italy
Status Demonetized (30 June 1980)

Why Add This Note to Your Collection?

This 1970 Italy 500 Lire note is ideal for:
Collectors of mythological and symbolic currency
Fans of Italian pre-Euro banknotes with classical themes
Curators of state-issued legal tender with unique iconography
Enthusiasts of early post-war Italian design and allegory

With its elegant composition and mythological depth, this note offers a compelling glimpse into Italy’s cultural and artistic legacy during the 20th century.