Ducat (currency)
The ducado was an ancient gold coin, minted in various European countries and at various times. The ducat was introduced by the Republic of Venice in 1284, during the rule of Doge Giovanni Dandolo. Its weight is 3.50 g of gold of 23 3/4 kts (99%) purity. the obverse shows the doge kneeling in front of Saint Mark, patron saint of Venice, and on the reverse Jesus. During the 15th century it replaced the florin as the reference gold coin.
Many other European authorities, including many German and Austrian Länder states, minted ducats. The denomination and several of its multiples and submultiples were minted until the beginning of the 20th century.[citation needed] The production of ducats as a means of exchange continued after World War I. Even today, some mints mint gold ducats based on old mints and banks sell them to investors.[citation needed]
The duchy in Spain
The Catholic Monarchs reformed the monetary system of the Crown of Castile. The Spanish gold ducat has a weight of 3.6 g (law 23 3/4 carats), it was the unitary gold coin (half a doubloon) and was one of the units of account during the 16th and 17th centuries. It was for minted for the first time by the Catholic Monarchs, with the name of Excelente de Granada, later receiving the name of duchy, and according to the "Notebook of Ordinances on the work of coins", also known as the "Real Pragmática de Medina del Campo", dated June 13, 1497, was equivalent to 11 Castilian reales and 1 maravedí or 375 maravedíes (1,500 horned).
In 1536 a new gold coin of less weight and grade than the ducat was introduced, going on to have a grade of 22 carats, with the aim of making Castilian gold coins equal to those of other countries and avoiding their flight to the exterior.[citation required] Said currency was the escudo or corona (350 maravedíes), with which the Ducat was no longer minted and became a currency of account. The Catholic Monarchs set a maximum limit to the amount of fleece in circulation, thereby establishing a stable system that functioned practically throughout the XVI century.[citation needed] In 1548 Carlos I authorized a greater amount of fleece and in 1552 he reduced its silver content from 7 to 5 1/2 grains of law.[citation required]
The ducat of the 16th century and the beginning of the 17th century would have a current equivalent of around 196 euros (according to the gold price by weight in 2023 of €54.54 per gram of 22K).
Luis de Góngora y Argote in his poem Truth, lies satirically cites it along with other coins of the time to underline the corrupting power of money:
"Crusses do Crusaders,
shields paint shields,
and very naked tahures,
with dice win counties,
ducats leave ducats,
and crowns Majesty,
Right,
Truth!"
Silver Ducat
In the XVII century, Spain and its viceroyalties used the so-called silver ducat as a unit of measure, not as a minted coin. It was equivalent to 375 silver maravedis.[citation needed]