Penny - Alexander I Jagiellon

Alexander Jagiellon became Grand Duke of Lithuania in 1492 and spent much of his reign managing the escalating military pressure from Muscovy under Ivan III — a conflict that would culminate in the disastrous Battle of Vedrosha in 1500, where Lithuanian forces suffered one of their heaviest defeats of the century. These pennies were the working currency of a duchy simultaneously fighting a war on its eastern frontier and negotiating dynastic survival through Alexander's marriage to Ivan III's own daughter, Elena.

The billon content here is notably low even by Lithuanian standards of the period, reflecting chronic silver shortages that plagued the duchy's mints throughout Alexander's tenure.