Italian tries to cash €300k from 1953 postal bond

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The post office bond dated back to 1953. Photo: Cassa depositi e prestiti
11:00 CET+01:00
An unemployed Italian woman from Taranto in the southern region of Puglia is attempting to cash more than €300,000 from a post office savings bond dating back to 1953.

Alessia Ricci, a 30-year-old mother of one, found the 100,000 Lire note amid a box of family heirlooms in the wine cellar of her parents home, Gazzetta del Mezzogiorno reported.

It is unclear from the report when the bond, issued in 1953, matured, but Ricci has sought the help of Agitalia, the Italian justice association, to recoup the money.

The bond is today worth €345,000, including interest, according to estimates from Agitalia, which has now requested the Ministry of Economy and Italian Post Office to reimburse the sum.  

Part or all uncashed postal savings bonds, or buoni postali fruttiferi, are still redeemable from the Italian State, which is obliged to honour all debt, even if it dates back before Italy became a Republic in 1946. Such was the case in October, when an elderly woman from Matera, also in Puglia, received €10,000 from a bond issued in 1938. The refund process took about four months.

Postal accounts were introduced in Italy in 1919, with the issuance of savings bonds beginning in 1925.

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