Obol Tournois of Dauphine - Louis XI 2nd issue

Louis XI struck this issue as Dauphin of France, not yet king — the Dauphiné retained its own mint administration and monetary rights even as Louis used the territory as a political base during his years of conflict with his father, Charles VII. The denomination itself, the obol tournois, was the half-denier of account, the smallest practical unit of exchange, and its survival in any condition reflects how little care was taken with coins of this value in circulation.

The billon content here is exceptionally low even by the debased standards of mid-fifteenth century French fractional coinage.