On 28 March 1923 a royal decision created the Regia Aeronautica, making Italy’s air force an independent service. Its seventieth anniversary was marked in 1993 by a commemorative 200 lire inscribed 70° AERONAUTICA MILITARE with the dates 1923-1993.

The centre of the reverse is a quartered circle bearing the badges of the first four squadrons formed during the First World War, beneath a turreted eagle, the emblem of military pilots. It was designed by Luciano Zanelli and engraved by Sergio Grossi, whose signatures ZANELLI INV. and GROSSI INC. appear on the coin. The obverse carries Mario Vallucci’s female portrait shared by all 200 lire coins.

With 170 million struck for circulation, this was everyday change rather than a collector-only piece. For a topical collection on aviation and the armed forces it stands out because it tells the story of the birth of Italian military aviation directly.

Condition VF: the raised parts of the relief show clear wear, but the badges and legends remain sharp.

Other coins of this country and issues on related themes can be found in the VPcoins catalogue.