Recently picked up this freakin' beauty! Wasn't sure of it being a genuine example as could not find any auction record or a past sale, but showed this to a few US Error coin dealers, who have replied in the affirmative! Probably unique as none of the Italian dealers or collectors or auction houses I contacted (over a dozen!) have ever seen a major mint error of a quadriga 2L. Please take a look at the pics and feel free to chime in with your opinions! Thank you, kindly.
Cool error. Here's a 1924 Lira double struck https://coins.ha.com/itm/italy/ital.../a/3010-21441.s?ic4=ListView-Thumbnail-071515 from a similar era, sold for $488.75. Not sure if that's a good comparison. Why does PCGS call it "Italie"? Code 11111 is also a catch all for "various errors", not sure if they're still using that.
They may have mixed up their languages, or the person who made the label is French. "Italie" is French for "Italy."
I suppose it's possible it was graded in their Paris office, and since the 11111 code is generic they probably had to type in the label info. Still, they would know that it's Italia at least and not Italie - says so right on the coin. Perhaps the label adds a little more cool factor.