Italy, Kingdom. Vittorio Emanuele III AV 20 Lire. Rome, 1905R. VITTORIO • EMANVELE • III, bare head to left; SPERANZA in small letters along edge below / REGNO D'ITALIA, crowned eagle facing, with head to left, wings spread and shield on breast; denomination, mintmark and date below. KM 37.1; Friedburg 23.
PCGS graded MS 62 (#33171605). Rare; from a mintage of only 8,715.
From a private European collection.