1 Cavallo - Ferdinando I

The cavallo — named for the horse that appeared on the type — was introduced by Ferdinando I of Aragon specifically to address the chronic shortage of small-denomination copper coinage in the Regno. Naples had relied heavily on billon and silver for everyday exchange, leaving the poorest transactions underserved. The cavallo filled that gap and remained the fundamental unit of petty commerce in the kingdom for decades.

Ferdinando's mint at Naples operated under considerable fiscal pressure during these years, supplying coinage while simultaneously financing campaigns against the baronial revolt of 1485–86.