Information about currency: Roman Scudo

The Roman scudo (plural: scudi romani) was the currency of the Papal States until 1866. It was subdivided into 100 baiocchi (singular: baiocco), each of 5 quattrini (singular: quattrino). Other denominations included the grosso of 5 baiocchi, the carlino of 7½ baiocchi, the giulio and paoli both of 10 baiocchi, the testone of 30 baiocchi and the doppia of 3 scudi.

In addition to issues for the Papal States as a whole, the currency was also issued by many of the individual municipalities. In the late 18th century, this included issues from Ancona, Ascoli, Bologna, Civitavecchia, Fano, Fermo, Foligno, Gubbio, Macerata, Matelica, Montalto, Pergola, Perugia, Ronciglione, San Severino, Spoleto, Terni, Tivoli and Viterbo. Uniquely in Bologna the baiocco, also known as the bolognino, was subdivided into 6 quattrini.

Between 1798 and 1799, the revolutionary French forces established the Roman Republic, which issued coins denominated in baiocco and scudo. In addition, the municipalities of Ancona, Civitavecchia, Clitunno, Foligno, Gubbio, Pergola and Perugia issued coins in the name of the Roman Republic.

In 1808, the Papal States were annexed by France, and the French franc circulated officially. When the Pope's authority was restored in 1814, the scudo was restored as the currency. However, outside Rome solely the coinage of Bologna was resumed. In 1849, another Roman Republic was established which issued coins centrally and in Ancona.

In 1866, the scudo was replaced by the lira, equivalent to the Italian lira, allowing the participation to the Latin Monetary Union. The exchange rate used was 5.375 lire = 1 scudo.