Italy — 20 Lire 1918 — Military Emergency Issue (M7) — PMG 53 About Uncirculated For WWI local Italian notes this is already top ~10–15% of survivors (they circulated heavily in 1918) A historically compelling World War I occupation issue from Northern Italy, printed in the dramatic final year of the conflict following the collapse of the Austro-Hungarian front in Veneto. These notes were issued by the Cassa Veneta dei Prestiti as emergency currency to stabilize commerce in recently liberated territories — a short-lived but fascinating chapter in European monetary history. Certified by PMG as 53 About Uncirculated, this example stands far above the typical survivors encountered in heavily circulated condition. The paper retains excellent body and firmness with strong original character, attractive centering and clear definition of all design elements. Handling is minimal for the type, with pleasing eye appeal that collectors actively seek in wartime local issues. The classical allegorical artwork featuring Minerva (Athena) symbolizes protection and rebirth — particularly meaningful given the circumstances of its issuance in 1918. The detailed engraving and historical context make this note highly desirable not only to Italian collectors but also to specialists in World War I emergency currencies. Why this note stands out: • Scarce in higher grades — most surviving examples are well worn • Historically important transitional occupation currency • Certified authenticity and grade by PMG • Strong visual presence and collectible appeal • Increasingly sought after by European paper money collectors An excellent opportunity to acquire a premium quality example of a genuine wartime Italian emergency banknote — a piece that combines history, scarcity and certified preservation in one collectible.