Dinero - Sancho VI

Sancho VI, called "el Sabio" — the Wise — spent much of his reign in bitter territorial dispute with Castile and Aragon, and it was partly through his monetary policy that he asserted Navarrese independence when military options were exhausted. His billon dineros circulated across a kingdom that, uniquely among the Iberian states, never managed to reconquer significant Muslim territory, leaving Navarre economically dependent on transit trade through the Pyrenees. The low silver content of the billon reflects chronic bullion shortages that plagued landlocked northern Iberia throughout the twelfth century.