Obverse
Reverse
Edge
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 1638 | — | — | ||
| 1639 | — | — | ||
| 1640 | — | — | ||
| 1641 | — | — | ||
| 1642 | — | — | ||
| 1643 | — | — | ||
| 1643 | — | — | ||
| 1644 | — | — | ||
| 1645 | — | — | ||
| 1646 | — | — | ||
| 1647 | — | — | ||
| 1648 | — | — | ||
| 1649 | — | — | ||
| 1650 | — | — | ||
| 1651 | — | — | ||
| 1652 | — | — | ||
| 1653 | — | — | ||
| 1654 | — | — |
Historical background
In 1638, the currency situation in the Saadian Sultanate of Morocco was complex and strained, reflecting a period of both internal consolidation and external pressure. The primary circulating coin was the silver dirham, but its value and purity were highly unstable due to the state's fiscal difficulties. Sultan Mohammed esh-Sheikh es-Seghir (r. 1636–1655) faced immense costs from maintaining a large military to defend against Ottoman advances from the east and European coastal incursions, while also dealing with the aftermath of the destructive conquest of the Songhai Empire decades earlier. This led to frequent debasement—reducing the silver content in coins—which eroded public trust and caused price inflation in markets.
The monetary system was not unified, operating on a bimetallic standard of silver and gold with fluctuating exchange rates. Alongside the silver dirham, the gold benduqi (or dinar) was used for larger transactions and foreign trade, particularly with European merchants in ports like Salé and Essaouira. However, the most reliable and sought-after currency for international commerce was the Spanish real de a ocho (piece of eight), which circulated widely due to its consistent silver content. This reliance on foreign coinage highlighted the weakness of the domestic mint and the kingdom's integration into Atlantic and Mediterranean trade networks, where European currencies often held more sway.
Furthermore, the currency chaos was exacerbated by a chronic shortage of precious metals. While Moroccan sugar and leather exports generated some revenue, they could not fully offset the drain of silver to pay for European textiles, arms, and luxury goods. The sultanate's control over the vital trans-Saharan gold trade, once a legendary source of wealth, had significantly diminished following the fall of Timbuktu, cutting off a crucial bullion supply. Consequently, the monetary landscape of 1638 was one of fragmentation, debasement, and dependency, mirroring the broader geopolitical and economic challenges facing the Saadian state in its later, declining years.
The monetary system was not unified, operating on a bimetallic standard of silver and gold with fluctuating exchange rates. Alongside the silver dirham, the gold benduqi (or dinar) was used for larger transactions and foreign trade, particularly with European merchants in ports like Salé and Essaouira. However, the most reliable and sought-after currency for international commerce was the Spanish real de a ocho (piece of eight), which circulated widely due to its consistent silver content. This reliance on foreign coinage highlighted the weakness of the domestic mint and the kingdom's integration into Atlantic and Mediterranean trade networks, where European currencies often held more sway.
Furthermore, the currency chaos was exacerbated by a chronic shortage of precious metals. While Moroccan sugar and leather exports generated some revenue, they could not fully offset the drain of silver to pay for European textiles, arms, and luxury goods. The sultanate's control over the vital trans-Saharan gold trade, once a legendary source of wealth, had significantly diminished following the fall of Timbuktu, cutting off a crucial bullion supply. Consequently, the monetary landscape of 1638 was one of fragmentation, debasement, and dependency, mirroring the broader geopolitical and economic challenges facing the Saadian state in its later, declining years.
✨ Legendary