Spanish Gold Coin (ducado)

Timeline

1. 1497Medina del Campo · CastileIn 1497 the Catholic Monarchs (Ferdinand and Isabella) issued the Ordenanzas de Medina del Campo, systematically regulating Castilian coinage. The gold coin 'excelente de la granada' (later ducado) was set at c.3.5 g, 23.75 carats fineness, aligned with the Venetian ducat standard, legal tender at 375 maravedís, establishing Spanish gold's international competitiveness.
2. 1511–1520Seville and the Mediterranean trade circle · AndalusiaBetween 1511 and 1520, the ducado spread rapidly with Spanish American exploration and trade networks. Early American gold and silver (from Hispaniola and later mainland conquests) began flowing back to Iberia, with Seville the main port of entry and exit. Meanwhile, Spanish military spending in the Italian Wars sent large amounts of ducado into Italy and Mediterranean markets, strengthening its key role in European finance.
3. 1537–1650Spanish and colonial mints · Iberian PeninsulaIn 1537 Charles V introduced the escudo gold coin to replace the ducado as the main circulating gold coin, the escudo weighing slightly less than the ducat standard. However, the ducado continued as an accounting unit (unit value 375 maravedís) in contracts, taxes, and bills of exchange into the late 18th century, marking its evolution from circulating currency to a standard unit of value.