There is actually a fair amount of exonumia from Italy, though nowhere near what Germany has produced.  Italy definitely has the edge in antiquity.  There are tokens and medals from Roman times.

ITALY, 21mm cast bronze, bust L, PETRVS GALILE / NERO.CAESAR.AVG ., a nice old religious medal in the tradition of the Paduans, 16-17th century, VF $70.00
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277-1398. ITALY, 27mm brass, no date (16th c.), winged lion of Venice, OCB V A P DEO A P DEO EA / orb in trifoil, D A O..., I'm thinking this is probably French, crude VG $36.00
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ITALY, 29mm bronze, GIUSEPPE STARACE NAPOLI / 10 CENTESIMI, 19th c., bit of corrosion, aVF $29.00 sold 11/13/2007
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Bob Reis
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