Papal States(Macerata) Emergency 5 Baiocchi 1797(1798) Krause (KM) plate coin R!

Description

Papal States (Macerata) Copper Emergency 5 Baiocchi 1797 or 1798 Anno XXIII
KM1, B-3115. The obverse is bold with near-full legends and sharp portrait. The central reverse is sharp, but the surrounding legend is softly struck, including the date which is illegible. Very rare type. This is the Krause (KM) plate coin.
This type is listed for 1797-98 only and was struck in Macerata. The French invasion of 1796 disrupted the delicate economic balance of the Papal States and destroyed the value of the paper currency which funded it. Hard money went into hiding and the pope was forced to issue a series of copper emergency money, including this type, which substituted for the silver
mezzo grosso.
Temporary branch mints were opened to produce more. Macerata issued this five baiocchi and a billon sixty baiocchi, both Rare.
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