Italy, 1 lira, 1944

Miniature low-denomination paper banknote issued by the Ministero del Tesoro (Italian Ministry of the Treasury) on November 23, 1944, at the end of World War II. Signatures: Bolaffi, Cavallaro, and Giovinco. Measuring only 78 × 42 mm, it is one of the most compact banknotes in Italian history.

The obverse features an allegorical female head of Italia (personification of Italy) in a medallion on the left against a pink-brown background. On the right is a vertical black serial number; the denomination «UNA LIRA», issuer name, and signatures are indicated. The reverse shows a green ornamental guilloché pattern with repeating geometric elements and the denomination. The composition is simple and functional, typical of wartime and postwar low-denomination issues.

Security features of the series include:

• watermark (possibly plain paper without a complex watermark)
• microtext and ornamental lines
• colored fibers
• signatures and serial number printed in intaglio

The banknote is of interest to both beginner and advanced collectors due to its historical context, miniature size, rare Bolaffi/Cavallaro/Giovinco signatures, and its status as one of the last lira issues before the postwar reform.