Grossetto Silver Coin: Italian and Dalmatian Currency

Illustrated Specimen Details: Silver Grossetto (Ragusa)

Example Specimen: Grossetto, 1667 (Republic of Ragusa)

Authority & Identification: This silver coin is a grossetto issued by the Republic of Ragusa in 1667. The Republic of Ragusa was an aristocratic maritime republic that existed from 1358-1808 in South Dalmatia, centered on the city of Ragusa, which is known today as the Croatian city of Dubrovnik. Due to Ragusa's long period under the control of the Republic of Venice, the influence of Italian culture is clearly visible in its monetary system and nomenclature. The governance structure of the Republic famously ensured that power could not be concentrated in one hand, leading some historians to describe it as the first democratic state in Europe. Its proud motto was "Non bene pro toto libertas venditur auro", meaning "Liberty is not sold for all the gold in the world". The obverse displays Saint Blaise of Ragusa, the patron saint of Dubrovnik, standing with his hand raised in benediction. The legend reads "S BLASIVS RAGVSII". The reverse features Jesus Christ surrounded by stars and the inscription "SALVS TVTA", meaning "Protector" or "Saviour". In Croatia, this coin is historically known as a dinarić.

1. ITALIAN STATES (14th-18th centuries) — Arezzo, Republic of Bologna, Duchy of Ferrara, Florence, Duchy of Mantua, Duchy of Savoy, Republic of Venice: grossetto = 1/40 scudo
2. REPUBLIC OF RAGUSA (17th-19th centuries): grossetto = 1/60 tallero

GROSSETTO (plural: grossetti) as a coin name. The grossetto, sometimes spelled grosseto, is a historical Italian small silver coin. Etymologically, the name is likely a diminutive form of "grosso", effectively meaning "small grosso". The oldest coins found with this denomination date back to 14th century Florence. Another famous example is the Venetian coin of the 15th-16th centuries, known as the "grossetto per navigar", issued by Doge Agostino Barbarigo for trade with the Levant. Despite its undeniable Italian roots, the grossetto is perhaps best known as a silver coin issued by the Republic of Ragusa between the 17th-19th centuries. It is important to note that Ragusa minted several denominations including 0.5 (copper), 1, 3, and 6 grossetti (silver). The grossetto was valued at 1/60th of the Ragusa tallero. Notably, the 3-grossetti coin had its own name, "alltilucho", and its design closely resembled the Polish trojak. The most common variety is the 1 grossetto issue minted from 1626-1761. Collectors should note that specimens are often found in extremely poor condition, which is frequently the result of insufficient minting quality rather than just circulation, causing them to be sometimes mistaken for cast coins.

History and Evolution of the Grossetto

Origins and Monetary Context

The grossetto emerged as a "little grosso", serving as a small silver coin used in medieval and early modern Italy as a fractional version of the heavier grosso coin type. It circulated widely throughout various Italian monetary systems, particularly in northern and central Italy, including major powers like the Republic of Venice and neighboring regions that adopted the silver standard based on the grosso. As the original grosso, which appeared in the late 12th century, was a relatively high-value silver coin, the market economy required smaller silver change. Consequently, Italian states frequently adjusted coin weights and fineness to create these intermediate denominations that fit between the denaro, soldo, and the full grosso.

Historical Role and Circulation

The grossetto illustrates a common pattern in medieval Italian numismatics, where successful currency systems were expanded into multiple fractional levels to better facilitate intense urban commerce. While the exact value of the grossetto was not one single fixed denomination across all regions, it generally functioned as a reduced-value grosso, usually valued between one half to one quarter of a standard grosso depending on the specific mint and period. Its circulation remained largely regional and mint-specific, serving as an essential tool for daily transactions, food markets, and local retail trade. Today, these coins remain highly significant to collectors as they provide tangible evidence of the economic complexity and monetary adaptation that defined the city-states of Italy and the maritime republics of the Adriatic.