5 Euro – Italy
Non-circulating coins
Commemoration: Environmental Protection
Italy
Context
Material
Weight: 15.5 g
Shape: Square
Standard: Silver half ounce
Alignment: Medal alignment
flip
References
KM: #Click to copy to clipboard497
Numista: #397010
Value
Exchange value: 5 EUR = $5.89
Inflation-adjusted value: 5.33 EUR
Obverse
Description:
A land cradling a seed from which art emerges, referencing Article 9 of the Constitution. Above, a caterpillar prepares for metamorphosis. The copper frame features an ecosystem texture, with "REPUBBLICA ITALIANA" at the top.
Inscription:
REPUBBLICA ITALIANA
Translation:
Italian Republic
Script: Latin
Language: Italian
Designer: Emanuele Ferretti
Reverse
Description:
A sprout emerges on a land inscribed with the start of Article 41 of the Italian Constitution, with butterflies in flight behind it. Flanking the sprout are "5 EURO" and "2023" with "R" for the Rome Mint. In exergue: the designer's signature, E. FERRETTI. A colorized coin.
Inscription:
5 EURO
2023
R
E. FERRETTI.
2023
R
E. FERRETTI.
Script: Latin
Designer: Emanuele Ferretti
Edge
Plain
Mints
| Name | Mark |
|---|---|
| Rome | R |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2023 | R | 3,000 | BU |
Historical background
In 2023, Italy's currency situation was firmly within the framework of the Eurozone, with the euro (EUR) serving as the sole legal tender. As the third-largest economy in the Eurozone, Italy's monetary policy was set by the European Central Bank (ECB), which embarked on an aggressive tightening cycle to combat high inflation. Throughout the year, the ECB raised key interest rates multiple times, a move that strengthened the euro against other major currencies like the US dollar but also increased borrowing costs for the Italian government, businesses, and households.
Domestically, the currency dynamic was heavily influenced by Italy's significant public debt, which exceeded 140% of GDP. The rising interest rates elevated concerns about debt sustainability and widened the spread between Italian and German 10-year government bonds (the BTP-Bund spread), a key indicator of perceived risk in Italian sovereign debt. This financial pressure was managed under Prime Minister Giorgia Meloni's right-wing coalition government, which navigated between EU fiscal rules and promises of tax cuts and increased spending, all while the strong euro had a mixed impact on the export-oriented manufacturing sector.
Looking forward, the currency and economic outlook remained tightly linked to ECB policy decisions and Italy's ability to maintain fiscal discipline to access EU pandemic recovery funds. While the euro's stability provided macroeconomic benefits, the high debt burden under a regime of elevated interest rates posed a persistent challenge, making economic growth essential for stabilizing the country's financial position within the single currency area.
Domestically, the currency dynamic was heavily influenced by Italy's significant public debt, which exceeded 140% of GDP. The rising interest rates elevated concerns about debt sustainability and widened the spread between Italian and German 10-year government bonds (the BTP-Bund spread), a key indicator of perceived risk in Italian sovereign debt. This financial pressure was managed under Prime Minister Giorgia Meloni's right-wing coalition government, which navigated between EU fiscal rules and promises of tax cuts and increased spending, all while the strong euro had a mixed impact on the export-oriented manufacturing sector.
Looking forward, the currency and economic outlook remained tightly linked to ECB policy decisions and Italy's ability to maintain fiscal discipline to access EU pandemic recovery funds. While the euro's stability provided macroeconomic benefits, the high debt burden under a regime of elevated interest rates posed a persistent challenge, making economic growth essential for stabilizing the country's financial position within the single currency area.
💎 Extremely Rare