Denaro Picciolo (1st Type) - Perugia

A relic of the medieval era, the Denaro Picciolo (1st Type) - Perugia from Perugia (Italian States) (1374–1376), denomination 1 Obol, offers collectors a tangible link to a world of knights, merchants, and pilgrims. The survival of any medieval coin in collectible condition is remarkable given the centuries of circulation, burial, and rediscovery these pieces have endured. This medieval coin dates from a period of feudal governance, crusades, and the gradual emergence of nation-states across Europe, Asia, and the Islamic world. Medieval coinage was produced by royal mints operating under strict royal prerogative, using hand-cut dies and manually operated screw or hammer presses. The relatively crude appearance of many medieval coins belies their historical importance: they are direct, tactile evidence of the economic and political structures of the Middle Ages. Struck in billon — a debased silver alloy with a low silver content — this coin reflects the economic pressures that frequently led governments to dilute their coinage with base metal. Billon coins occupy a fascinating transitional position in monetary history, their very composition serving as evidence of fiscal stress, debasement cycles, and the tension between monetary ideals and governmental financial needs. Numismatic interest in this coin is supported by its combination of historical significance, artistic merit, and the inherent appeal of its material composition. Collectors are advised to consult reputable dealer networks and major auction records when assessing fair market value. For acquisition and sale, the services of established numismatic dealers or major auction houses provide the best combination of price discovery, authentication, and buyer/seller protection.