1/20 Ecu '1/20 Ecu Philipe' - Philip II

Philip II's Brabant administration issued this billon fraction during the most turbulent decades of the Dutch Revolt, when the southern Netherlands remained under Spanish control while the northern provinces fought for independence. Military expenditure was relentless, and small-denomination coinage was needed in volume to pay troops and maintain local commerce in occupied territory. The mint at Antwerp — and at Maastricht during certain years — struck these under strict ordinance, with weight and fineness regulated by royal decree from Madrid.

The billon content itself reflects the fiscal pressure of the period; the silver fraction was kept just high enough to maintain acceptance.