1 Mazuna – Morocco
Morocco
Context
Year: 1768
Islamic (Hijri) Year: 1181
Issuer: Morocco 
Ruler: Sidi Muhammad III
Currency:
(1659—1882)
Demonetized: Yes
References
KM: #Click to copy to clipboard31.6
Numista: #157489
Value
Bullion value: $2.56
Obverse
Reverse
Edge
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 1768 | — | — |
Historical background
In 1768, the currency situation in the Alawite Sultanate of Morocco was characterized by a complex and often chaotic bimetallic system, heavily influenced by both internal governance and intense foreign trade pressures. The primary coins in circulation were the silver dirham and the gold benduqi (or benduqi dinar), but their weight, purity, and value were not consistently standardized across the realm. This lack of uniformity was exacerbated by the circulation of a vast array of foreign coins, particularly Spanish reales (pieces of eight) and Portuguese gold moidores, which entered the country through trade with European merchants and via the lucrative, state-sanctioned piracy of the Salé corsairs. These foreign coins were essential for international commerce but created a fragmented domestic monetary landscape.
Sultan Sidi Muhammad III ibn Abdullah, who reigned from 1757 to 1790, was actively attempting to reform and centralize the monetary system during this period. Recognizing that monetary disorder hampered trade and state revenue, he sought to assert greater control by minting new, standardized Moroccan coins at the imperial mints in cities like Marrakech and Fes. His goal was to reduce reliance on foreign specie and establish a reliable currency that would foster internal economic stability. However, these efforts faced significant challenges, including public distrust of new coinage, the entrenched use of foreign coins, and the technical difficulties of enforcing standards across a decentralized minting process.
Consequently, the everyday economic reality for most Moroccans in 1768 was one of uncertainty and calculation. Merchants and money changers (sarrafs) played a crucial role in assessing the weight and metal content of each coin, determining its value through negotiation and local custom. This informal system, while adaptable, was prone to fraud and created inefficiencies that hindered broader economic development. Thus, the currency situation reflected the broader state of the sultanate: a traditional empire grappling with the pressures of global trade and striving, with partial success, to impose centralized modernizing reforms on a complex and resistant economic fabric.
Sultan Sidi Muhammad III ibn Abdullah, who reigned from 1757 to 1790, was actively attempting to reform and centralize the monetary system during this period. Recognizing that monetary disorder hampered trade and state revenue, he sought to assert greater control by minting new, standardized Moroccan coins at the imperial mints in cities like Marrakech and Fes. His goal was to reduce reliance on foreign specie and establish a reliable currency that would foster internal economic stability. However, these efforts faced significant challenges, including public distrust of new coinage, the entrenched use of foreign coins, and the technical difficulties of enforcing standards across a decentralized minting process.
Consequently, the everyday economic reality for most Moroccans in 1768 was one of uncertainty and calculation. Merchants and money changers (sarrafs) played a crucial role in assessing the weight and metal content of each coin, determining its value through negotiation and local custom. This informal system, while adaptable, was prone to fraud and created inefficiencies that hindered broader economic development. Thus, the currency situation reflected the broader state of the sultanate: a traditional empire grappling with the pressures of global trade and striving, with partial success, to impose centralized modernizing reforms on a complex and resistant economic fabric.
✨ Legendary