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Austrian gold ducat depicting Kaiser Franz-Josef, c. 1910. The ducat (/ ˈ d ʌ k ə t /) coin was used as a trade coin in Europe from the later Middle Ages to the 19th century. Its most familiar version, the gold ducat or sequin containing around 3.5 grams (0.11 troy ounces) of 98.6% fine gold, originated in Venice in 1284 and gained wide international acceptance over the centuries.
The sequin or zechin (/ ˈ s iː k w ɪ n /; Venetian and Italian: zecchino [dzekˈkiːno]) is a gold coin minted by the Republic of Venice from the 13th century onwards. The design of the Venetian gold ducat , or zecchino , remained unchanged for over 500 years, from its introduction in 1284 to the takeover of Venice by Napoleon in 1797.
The Venetian state then resold the salt at a profit - a form of Salt tax - to markets throughout Italy, Dalmatia, Slovenia, and the Stato da mar. Venice had a salt monopoly for many of these markets. The Salt Office collected 165,000 ducats net of costs in 1464, or around 15% of the entire income of the Venetian state. [17]
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Although there is no information about coinage in what was the Duchy of Venice (a semi-independent entity within the Byzantine Empire from which the Republic of Venice originated), ancient historians such as Andrea Dandolo and Marin Sanudo mention that the privilege of coinage was given to Venice by the kings of Italy Rudolph II (in 921) and Berengar II (in 950); however, it is more likely ...
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