Imperial Denaro

Novara's medieval coinage occupied an awkward political position — the city changed hands repeatedly between the Visconti of Milan and competing regional powers throughout the fourteenth century, and the denaro reflects that instability in its inconsistent production. Billon coinage of this weight class from Lombard communes was often struck to deliberately debased standards, municipal mints quietly reducing silver content as fiscal pressures mounted.

MIR 883 places this type within a cluster of north Italian fractional issues whose attribution to specific decades within the century remains contested.