Savoia. Vittorio Emanuele III re d’Italia, 1900-1946. 100 lire 1923 with mirror-finish surfaces, AV 32.25 g. ø 35 mm. VITTORIO EMANVELE III RE D’ITALIA Bare head l.; below A MOTTI. Rev. Lictor's fasces with axe r.; at sides, LIRE / 100 – OTTOBRE / 1922 / 1923. In lower l. field, R. Pagani 644a. MIR 1116b. Friedberg unlisted. Of the highest rarity, four specimens known, of which only two are in private hands. Virtually as struck and Fdc NGC PF 61 Cameo (2414738-002). The 100 Lire issue commemorating the first anniversary of the “March on Rome” in October 1922, which effectively marked the advent of Fascism in Italy, was intended purely for the numismatic market, having been sold by the Mint from the outset at 400 Lire each. The Mint’s intention was to produce all 20,000 specimens with a proof finish. For reasons that remain unknown to this day, the obverse dies proved defective, and scratches were already visible in the mirrored fields behind the King’s head on the very first specimen struck. After the fourth specimen was minted, it was decided to suspend production. As it was impossible to continue striking the coins with the damaged die, it was decided, once the flan had been struck, to give it a matte finish to hide the scratches on the obverse field. This explains why all specimens currently on the market, apart from the four mentioned above, have a sandblasted finish. It is believed that, of these four specimens, two were retained by Engineer Mario Lanfranco, Director of the Mint from 1910 to 1929. At the sale of Coins of the Kingdom of Italy and the Italian Colonies held by P. & P. Santamaria in Rome on 28 May 1926, featuring the collection belonging to Engineer Lanfranco, a proof specimen was offered at lot 266. This is the first and only time in numismatic history that a 100 lire proof finish has been offered in a public auction and it realised 1,300 lire which was a very substantial amount. This specimen is the second one to appear in the numismatic over 100 years after the first one. The issue with the proof finish is well documented in the literature on the coinage of the Kingdom of Italy: Simonetti 15/a; Pagani, Prove 644a; Cudazzo 1229b. Please find here the video of the coin