Muraiola of 8 Baiocchi - Pius VI

Pius VI issued this emergency billon coinage for Perugia in the shadow of Napoleon's Italian campaign. The Treaty of Tolentino, signed in February 1797, stripped the Papal States of significant territory and extracted a ruinous financial indemnity, forcing local mints to produce debased subsidiary coinage to keep commerce functioning. Perugia's issues of this type were strictly provisional — the political situation that produced them was already unraveling before the dies cooled.