Italy 
PeriodRepublic (1946-date)
1969
Silver (.835)
Weight11 g
Diameter29.3 mm
Thickness2 mm
ShapeRound
OrientationCoin alignment ↑↓
Demonetized02-28-2002
ReferencesKM# 98, Schön# 97, Y# 105
Obverse
Bust of woman in Renaissance dress, representing Italy, surrounded by 19 shields. From lower left the shields are: Genova, Torino, Aosta, Milano, Trento, Venezia, Trieste, Udine, Bologna, Firenze, Ancona, Perugia, Roma, L'Aquila, Napoli, Bari, Potenza, Catanzaro, Sicilia, Cagliari. The last two are hidden behind the bust. 
Below the name of the engraver.

Lettering: GIAMPAOLI

Engraver: Pietro Giampaoli

Reverse
Christopher Columbus's ships, the Nina, Pinta and Santa Maria sailing to right. Below the value, with mint mark and name of the author (within sea waves).

Lettering: 
REPVBBLICA ITALIANA
VEROI
L. 500 
R

Engraver: Guido Veroi 

Edge
Raised lettering with the date within six stars (three for each sides)

Lettering: REPVBBLICA ITALIANA ***1969***