As Italy moved toward a fascist government the coin designs shifted from a classical Greek motif to a more Roman one. The eagle, boldly and exclusively, expresses this best. Other denominations feature Roman deities and as an Imperialist stance begins the fasces begins to appear.
There are two varieties of this coin for certain years; 1927, 1928, & 1929 may be found with 2 stars flanking each side of the word FERT on the edge rather than just one on each side. These are slightly more valuable. This coin has the two stars: **FERT**
The ANA's "Numismatist" for Oct 2020 (p.39) has a nice little feature on the coins of Vittorio Emanuele III at this: http://onlinedigitalpublishing.com/publication/frame.php?i=673359&p=&pn=&ver=html5
Italy
Italy 5 Lire - 1927
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