1 Ducat - Alexander VI Giovanni Borgia Legate

Alexander VI appointed his son Cesare Borgia as papal legate to Bologna, and the city's mint operated under that fraught political arrangement throughout the pontificate. The Borgia papacy's grip on the Papal States was enforced partly through Bologna's strategic position along the Via Emilia, making its coinage a direct instrument of Borgia territorial consolidation in northern Italy.

The .999 fineness is notable — Bolognese ducats of this period were held to a particularly strict gold standard to maintain credibility in the northern Italian trade networks where Venetian and Florentine coin dominated.