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1 Ducato

Issuer Ragusa, Republic of
Year 1722-1797
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Value 1 Ducat (⅔)
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Obverse description Full-length facing figure of Saint Blaise (San Biagio), patron saint of Ragusa, vested in episcopal robes and mitre, raising his right hand in benediction and holding a crozier in his left. The initials S and B flank the saint's figure in the field, with the two-digit year divided on either side of the lower portion of the figure. The circumferential Latin legend reads TUIS·A·DEO·AVSPICIIS, separated by pellets, within a beaded or rope border.
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Reverse lettering DUCAT・REIP・RHAGVSINE
(Translation: Ducat of Ragusan Republic)
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Additional information

Ragusa — modern Dubrovnik — maintained its independence for centuries through a policy of calculated neutrality, paying tribute to the Ottoman Empire while simultaneously maintaining trade privileges with Catholic Europe. The ducato was the backbone of that commercial diplomacy. This issue's unusually debased silver content (.566 fine) reflects not monetary crisis but deliberate policy: Ragusan authorities kept the coin's intrinsic value low enough to discourage melting while ensuring it circulated freely across the Adriatic trade network.

The Republic's mint ceased operations permanently in 1803, six years after French pressure effectively ended Ragusan sovereignty in 1797. Napoleon formally abolished the Republic that year.

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