The most common and most likely answer to this crossword clue is the 4 letter word LIRE
I've seen this crossword clue in The Guardian
L
I
R
E
Buddy explains!
The straight part
We know that "capital of Italy some time ago" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case capital of italy some time ago = lire.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does LIRE mean?
LIRE noun- Flesh, brawn, or muscle; the fleshy part of a person or animal in contradistinction to the bone and skin.
- The fleshy part of a roast capon, etc. as distinguished from a limb or joint.
- The cheek.
- Face; appearance of the face or skin; complexion; hue.
- The Manx shearwater (bird).
- The basic unit of currency in Turkey.
- The currency of Lebanon (also pound), Syria (also pound), Jordan (also dinar)
- The former currency of Italy, Malta, San Marino, Cyprus and the Vatican City, superseded by the euro