1 Falus – Morocco
Morocco
Context
References
KM: #Click to copy to clipboard95.10
Numista: #157226
Obverse
Reverse
Edge
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 1816 | — | — | ||
| 1820 | — | — |
Historical background
In 1816, Morocco's currency situation was characterized by a complex and fragmented system, deeply tied to its political and economic standing. The country operated on a bimetallic standard, primarily using silver dirhams and gold benduqi (or mithqal), but the actual circulation was a chaotic mix of domestic and foreign coins. Domestically, the Alawite Sultans minted coins in various denominations and purities, but their control over the monetary system was inconsistent, leading to significant regional variations in value and acceptance. This period followed a century of relative isolation and internal strife, which had weakened central authority and disrupted long-distance trade, thereby reducing the influx of fresh bullion needed for a stable coinage.
The circulation was dominated by a plethora of foreign currencies, a testament to Morocco's integration into Mediterranean and Atlantic trade networks. Spanish piastres (reales), Portuguese crusados, and particularly the Austrian Maria Theresa thaler were widely used for larger transactions, especially in coastal trading ports. These foreign coins were often preferred for their reliable silver content and played a crucial role in external commerce. Concurrently, a debased copper coinage, the fals (plural fulus), was used for everyday small-scale transactions among the common populace, creating a three-tiered monetary structure that was cumbersome and prone to fluctuation.
This monetary fragmentation reflected the broader challenges of the early 19th-century Moroccan state. The economy was largely agrarian and tribal, with limited central fiscal capacity. Sultan Moulay Slimane (r. 1792–1822), facing internal rebellions and preferring isolationist policies, had limited success in imposing monetary unity. Consequently, exchange rates between the various metallic coins were set and adjusted in the souqs (markets) by money changers (sarrāf), rather than by royal decree. This unstable and heterogeneous system created uncertainty for both local and international merchants, hindering economic development and underscoring the need for the major currency reforms that would be attempted later in the 19th century.
The circulation was dominated by a plethora of foreign currencies, a testament to Morocco's integration into Mediterranean and Atlantic trade networks. Spanish piastres (reales), Portuguese crusados, and particularly the Austrian Maria Theresa thaler were widely used for larger transactions, especially in coastal trading ports. These foreign coins were often preferred for their reliable silver content and played a crucial role in external commerce. Concurrently, a debased copper coinage, the fals (plural fulus), was used for everyday small-scale transactions among the common populace, creating a three-tiered monetary structure that was cumbersome and prone to fluctuation.
This monetary fragmentation reflected the broader challenges of the early 19th-century Moroccan state. The economy was largely agrarian and tribal, with limited central fiscal capacity. Sultan Moulay Slimane (r. 1792–1822), facing internal rebellions and preferring isolationist policies, had limited success in imposing monetary unity. Consequently, exchange rates between the various metallic coins were set and adjusted in the souqs (markets) by money changers (sarrāf), rather than by royal decree. This unstable and heterogeneous system created uncertainty for both local and international merchants, hindering economic development and underscoring the need for the major currency reforms that would be attempted later in the 19th century.
✨ Legendary