FFE Magazine

Italian with 100M lire told it’s too late to exchange for Euro

Italian with 100M lire told it’s too late to exchange for Euro

Woman who inherited a goldmine from uncle wants to battle claim in court.


Before countries in the Eurozone finally adopted the euro over their respective currencies in 2002, they already put a time limit for the exchange of old coins and banknotes to new ones.


But what if you hit a jackpot after the time limit has passed? For a call centre worker in Italy, she’ll take her claims to court.


Claudia Moretti of Pesaro on the Adriatic coast inherited her uncle’s home after he died. But more than just a house, she became the dazed owner of 100M lire which she found hidden in a safe inside the house.


The call centre worker immediately rang Italy’s central bank (Banca d’Italia) to have her money exchanged to euros, which would have been worth €51,645.69. However, her dreams were dashed when the central bank said her lire are worthless and refused to make the exchange.


In Italy, the deadline for the exchange was on 6December 2011. After that date all lire coins and notes were considered worthless.


Moretti is currently planning to battle her claim in court. Out of all Eurozone countries, Italy has the strictest time limit. Nine Eurozone countries, including Germany and Ireland, have not set any time limit to currency exchanges.



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