Hi David, what a beautiful vintage bracelet! In 1934 new hallmarking requirements were introduced in Italy. Each smith was registered and assigned a number. The two letter abbreviation is the province in which the smith was registered.
VI is the abbreviation for the Italian province of - Vicenza.
best wishes, Yvonne Hammouda-Eyre Stay up to date with all the latest Antique, Premier and Pearl Jewelry News, and subscribe to our newsletter....