yes, that's interesting. Krause WC catalog says a price at $12 up to $40 for XF grade.
Schön & Schön catalog even tells higher prices (but only 1,20€ for XF quality) for 1954-57, 59-65 and
5€ for 1958. You see - there are huge differences in prices. They seem to be rare or at least uncommon.
Quote: kommodoreBut why the price is so expensive?
8.9 million seems like a lot, but but relative to most other years for this coin it's low. And it's a denomination that would've presumably circulated heavily. Most likely there's a relatively low number of 1957 50 lire coins in the higher grades.