Denaro

Pisa's monetary authority in this period derived from imperial privilege: Frederick Barbarossa granted the city the right to strike its own coinage during the 1160s as partial reward for Pisan naval support in his Italian campaigns. The denaro circulated widely across the Tyrrhenian trading network, appearing in hoards from Sardinia to the Levantine ports where Pisan merchants maintained active fondaci.

Billon fabric from this mint is notoriously inconsistent in silver content across the type's production run, a known issue in the MIR classification.