1 Cavallotto - Ludovico II With collar

Ludovico II ruled Saluzzo during one of the marquisate's most precarious stretches, caught perpetually between French ambition and Savoyard pressure. His coinage reflects that political tightrope — the cavallotto denomination itself was borrowed from broader Piedmontese monetary practice, an implicit acknowledgment that a minor marquisate on the western Alpine fringe could not afford monetary isolation. The collar variety distinguishes this type from earlier Ludovico issues and likely reflects a deliberate updating of the lord's portrait to match contemporary court fashion.