Sidi Mohammed IV came to power in 1859 inheriting a treasury already strained by the indemnity payments imposed after the Spanish-Moroccan War — a conflict Morocco lost decisively at the Battle of Tétouan. The Hawz mint, operating in the region around Marrakesh, was one of several provincial mints producing bronze fulus during this period, each introducing subtle die variations that distinguish issues between facilities. The short production window of 1861–1863 reflects the monetary turbulence of early Mohammed IV's reign rather than any planned cessation.
Sidi Mohammed IV came to power in 1859 inheriting a treasury already strained by the indemnity payments imposed after the Spanish-Moroccan War — a conflict Morocco lost decisively at the Battle of Tétouan. The Hawz mint, operating in the region around Marrakesh, was one of several provincial mints producing bronze fulus during this period, each introducing subtle die variations that distinguish issues between facilities. The short production window of 1861–1863 reflects the monetary turbulence of early Mohammed IV's reign rather than any planned cessation.