Michael,

If it was from the Vatican it would have the Papal insignia, not from Italy, as the Vatican is a country in its own right. My wife received such a Rosary as a gift when we met John Paul II in 1997.

There is little chance you can find out all the details of its origin without some oral tradition from within your family. Try to figure out who in your family went to Italy and seek answers out from them; start with Grandma.

Peace,

Bob Kirby