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You are asking about a One Lira coin from Italy (KM#45). The coin, roughly the size of a US quarter, weighs 5 grams and is 83.5% silver, giving it an ASW (Actual Silver Weight) of 0.1342 troy ounces. With silver priced at US$39.20 per troy ounce (as of April 5, 2011), the "melt value" of the coin is US$5.26. The front has an image of King Victor Emmanuel the Third with the words "VITTORIO EMANUELE III RE D'ITALIA" (Italian for "Victor Emmanuel the Third, King of Italy"). The back has a Quadriga (a chariot drawn by four horses next to each other) with a standing female figure in it, with the date to the left and "L 1" (short for "One Lira") below. 3,475,000 such coins were produced in 1909, all at the Rome mint.
According to the Standard Catalog of World Coins, an example is valued at US$15 in Fine condition, US$50 in Very Fine condition, US$280 in Extremely Fine condition, and US$600 in Uncirculated condition.
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