Obolo - Ponce Hugo IV

Hugo IV ruled Empúries during a period when the county was sliding into sustained financial and political dependency on the Crown of Aragon. These small billon fractional pieces were struck to service local market transactions at a time when Empúries lacked the resources to maintain a competitive silver coinage — the billon content reflects fiscal constraint, not minting preference. The county would effectively lose autonomous monetary authority within a generation of Hugo's death.