Italy
Vittorio Emanuele III 20 Lire Anno IX (1931)-R MS65 NGC, Rome mint, KM69, Dav-145, Mont-70, Gig-40, Pag-676. An excessively rare and difficult issue with a reported mintage of only 50 pieces, offered here in enviable gem quality and tied with only one other example as the finest certified by NGC. Even for the assigned grade, the present piece is uncommonly attractive, boasting velvety satin fields and an utter lack of contact marks or hairlines. An exceptionally desirable specimen of this popular type.
Ex. Hess-Divo Auction 297 (October 2003, Lot 118)
https://coins.ha.com/itm/italy/kingdom/italy-vittorio-emanuele-iii-20-lire-anno-ix-1931-r-ms65-ngc-/a/3096-30405.s?type=CoinArchives3096
HID02906262019
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Estimate: 3000-5000 USD