Muraiola - Francesco I d'Este

Francesco I came to the Duchy of Modena and Reggio in 1629 under Spanish suzerainty, but spent much of his reign maneuvering between Habsburg and French interests — a political tightrope that kept his treasury perpetually strained. The muraiola, a low-value billon denomination, was the working currency of that instability, circulating among tradespeople and laborers while Francesco funded his military ambitions and the construction of the Palazzo Ducale above their heads.

His 1638 seizure of Correggio from the Empire triggered a war that nearly ended the dynasty outright.