Pegasus, the white-winged horse of myth and fantasy, in-flight to left and the country name at the bottom. Below are the designer and the engraver names
P. GIAMPAOLI INC.
Republic of Italy
P. Giampaoli INC.
The olive branch of fruit with leaves, dividing value and the mintmark to the lower left and the date at the bottom
Smooth with inscription
Lettering: REPVBBLICA ITALIANA
Translation: Republic of Italy
R Istituto Poligrafico e Zecca dello Stato, Rome, Italy (1911-date)