6 Maravedis – Kingdom of Navarre

In 1819, the Kingdom of Navarre, a historic realm straddling the Pyrenees, was in a state of profound monetary disarray, a direct consequence of the Peninsular War (1808-1814) and the ensuing political turmoil. The conflict had devastated the local economy, disrupted trade, and led to a severe shortage of official coinage from the central Spanish mint. This vacuum was filled by a chaotic mix of obsolete coins from earlier reigns, French occupation currency, and a flood of debased and counterfeit coins, creating a climate of confusion and distrust in everyday transactions. The problem was exacerbated by Navarre's traditional fueros (autonomous rights), which complicated the uniform imposition of monetary policy from Madrid.

The Spanish Crown, under the restored absolutist rule of Ferdinand VII, was itself in a dire financial state, struggling with massive debt and a bankrupt treasury. Efforts to reform the national currency system were slow and ineffective, meaning little relief reached regions like Navarre. Locally, the scarcity of reliable specie (hard coin) severely hampered commerce and tax collection, pushing communities toward barter and credit systems. The instability also benefited smugglers and money-changers who operated along the mountainous border with France, further undermining official economic structures.

Ultimately, the currency situation in Navarre in 1819 was a microcosm of the wider crisis of the Spanish Old Regime. It reflected the failure of the central state to provide basic economic stability and the lingering effects of wartime destruction. This monetary confusion contributed to the social and political discontent that would, in the coming years, fuel the liberal Trienio uprising (1820-1823) and, later, the Carlist Wars, where Navarre's fueros and traditional economy were central points of conflict.