Denaro Piccolo - Francis I of Carrara

Francesco I da Carrara ruled Padua for over three decades, but his hold was never comfortable — the city changed hands twice during his lifetime, and his coinage reflects a lordship perpetually caught between Venetian pressure to the east and Visconti aggression to the west. The denaro piccolo was the workhorse of local retail exchange, struck in large quantities but surviving poorly due to the fragility of small billon flans at this diameter.

Francesco died in 1388, the same year Gian Galeazzo Visconti seized Padua and ended the first Carraresi period of rule entirely.