Can you still change Italian lire notes?

Answer 1

All old Lira banknotes can be exchanged for Euro equivalents free of charge at Bank of Italy branches until 29-Feb-2012.

You can also convert all old pre Euro currencies to Pounds/Sterling at Thomas Exchange UK, a London based foreign exchange firm established since 1978 http://www.thomasexchange.co.uk/

To convert any old currencies to Sterling, you can visit the Thomas Exchange London Office, at Maddox Street, near Oxford Circus tube Station. Alternatively, if you are based outside London, you can post the currency to them and they can pay you by Cheque or directly into your bank account (contact them in advance).