These included 13 million religious items such as pendants, rosaries and bracelets alone, as reported by the newspaper "La Repubblica" (Friday).
In addition, the Italian financial police discovered around 750 illegal workers or people without residence papers during checks in the hotel and catering industry.
According to the provincial commander of the Roman Guardia di Finanza, Giancarlo Franzese, special security measures are being taken in view of the Holy Year meeting of young people in ten days' time.
Tens of thousands of young people are expected to gather in the Vatican and the Roman suburb of Tor Vergata from 28 July to 3 August.
Italy's financial police had already confiscated more than 100,000 counterfeit rosaries, papal images and medals with the Vatican logo last autumn.
The inspectors found them in shops on the Via della Conciliazione, the popular pilgrimage route between the Vatican and Castel Sant'Angelo.
No official papal souvenirs yet
Meanwhile, official souvenirs with the image of the Pope elected on 8 May are still in vain.
Traders around St Peter's Basilica are complaining that the Vatican has apparently not yet given permission for the image of Leo XIV to be used on souvenirs, according to media reports.
Authorisation was granted much more quickly for earlier popes.
Nevertheless, the official image of Pope Leo XIV has been available to download online since 16 May.
The photo shows the first US pope smiling in a white robe and with a golden pectoral cross.
Below it is the papal coat of arms and the signature of Leo XIV.
The photo can be downloaded and used free of charge for institutional purposes.