1 Sultani – Aleppo Eyalet
Syria
Context
Year: 1617
Islamic (Hijri) Year: 1026
Country: Syria 
Issuer: Aleppo Eyalet
Ruler: Mustafa I
Currency:
(1534—1687)
Demonetized: Yes
Material
References
KM: #Click to copy to clipboard28
Numista: #103069
Value
Bullion value: $574.57
Obverse
Reverse
Edge
Mints
| Name | Mark |
|---|---|
| Haleb | — |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 1617 | — | — |
Historical background
In 1617, Aleppo Eyalet was a vital commercial and financial hub of the Ottoman Empire, and its currency situation reflected both the empire's centralized monetary policy and the practical realities of international trade. Officially, the Ottoman state issued silver akçe and gold sultani coins, with their values fixed by imperial decree. However, the daily reality in Aleppo's bustling markets was one of significant complexity. The city was a terminus for the Silk Road and a nexus for European merchants, leading to a circulation of a vast array of foreign coins, including Venetian ducats, Spanish pieces of eight (reales), and various Persian and Mughal issues. These foreign coins were not mere curiosities but were essential for large-scale commerce, often preferred for their consistent weight and purity.
This proliferation of foreign currency created a persistent challenge for Ottoman authorities. The value of the local akçe was unstable, suffering from chronic debasement as the central treasury periodically reduced its silver content to raise short-term revenue. This practice, combined with the influx of foreign specie, led to a dynamic and often volatile exchange market (sarraflar) in Aleppo. Money changers and merchants had to constantly negotiate rates between the official Ottoman coinage, various foreign currencies, and even different regional versions of the akçe itself, creating a financial environment far more fluid than imperial edicts suggested.
Consequently, the monetary system in Aleppo Eyalet in 1617 was characterized by a duality. On one level, it operated under the formal Ottoman monetary framework used for taxation and official payments. On a more dominant practical level, the economy, especially its lucrative international trade in silk, spices, and textiles, relied on a de facto multi-currency system. This situation placed great power in the hands of the city's money changers and merchant guilds, who managed the exchange risks, and it highlighted the tension between the Ottoman Empire's desire for monetary control and the irresistible forces of global commerce flowing through its most important Syrian province.
This proliferation of foreign currency created a persistent challenge for Ottoman authorities. The value of the local akçe was unstable, suffering from chronic debasement as the central treasury periodically reduced its silver content to raise short-term revenue. This practice, combined with the influx of foreign specie, led to a dynamic and often volatile exchange market (sarraflar) in Aleppo. Money changers and merchants had to constantly negotiate rates between the official Ottoman coinage, various foreign currencies, and even different regional versions of the akçe itself, creating a financial environment far more fluid than imperial edicts suggested.
Consequently, the monetary system in Aleppo Eyalet in 1617 was characterized by a duality. On one level, it operated under the formal Ottoman monetary framework used for taxation and official payments. On a more dominant practical level, the economy, especially its lucrative international trade in silk, spices, and textiles, relied on a de facto multi-currency system. This situation placed great power in the hands of the city's money changers and merchant guilds, who managed the exchange risks, and it highlighted the tension between the Ottoman Empire's desire for monetary control and the irresistible forces of global commerce flowing through its most important Syrian province.
✨ Legendary