THE GOLD FLORIN OF "VERRAZZANO"

In 1252 the Republic of Florence minted the first gold Florin, thus named because the image of the lily (symbol of Florence) is impressed on the obverse and the image of Saint John the Baptist, patron saint of Florence, is on the reverse. This new coin was an immediate success, such that it obscured every other type of coin, and the style and the absolute purity of the 24 Florentine carats was never equalled

The Florentine Mint was not run by the government but by the merchants and bankers of the city, who took care of the quantity of gold for the coins. The activity of the Mint was controlled by the most important guilds (Arti Maggiori) who elected a new guarantor (Master of the Mint) every 6 months.

Many members of the Verrazzano family took an active part in Florentine politics since they were merchants, bankers, judges and notaries, and in the second semester of 1405 Bernardo di Niccolò da Verrazzano was entrusted with the prestigious position of Master of the Mint. The gold Florin was minted until 1533 when Cosimo de Medici ordered the fusion of all the coins in order to produce a new coin, the gold Scudo, imitating the coin already in circulation in all the most important European States.

By tradition a gold Florin was always placed in the foundations of every tower in Florence to ensure luck and prosperity to the inhabitants.