5 Soldi - Charles Emmanuel III

Charles Emmanuel III was deep in the War of Austrian Succession during these years, with Savoy playing its characteristic role as a small power extracted for maximum diplomatic value — he had allied with Austria and Britain, and his armies were actively campaigning in northern Italy against the French and Spanish Bourbon forces. Military expenditure was severe, and billon issues like this one reflect the fiscal strain of sustaining a fighting state on a narrow tax base. The Piedmontese mint at Turin kept production running through the conflict, though output was inconsistent year to year.