1/2 Real Cruzado - João I Lisboa mint

João I struck these cruzados in the years immediately preceding the 1415 assault on Ceuta — Portugal's first foothold in North Africa and the opening move of Iberian overseas expansion. Whether wartime fiscal pressure influenced the already-low silver fineness of this billon issue is debated, but the timing is difficult to ignore. Lisboa mint output from this reign is frequently encountered with significant die misalignment, a product of the period's inconsistent striking practices rather than any particular die failure.