Neglecting this latter question, however, as one of nomenclature merely, the course of depreciation of the maravedi may be thus illustrated:—
Maravedi (Moorish coin), fine gold, about 56 grs. By the time of James I. of Aragon, the contents in fine gold had sunk to 14 grs.
Having been still further reduced to 10 grs. under Alfonso the Wise, it was made into a silver coin, as being too small to be expressed in gold.
Its depreciation in this latter form and through its third form of billon money was as follows:—
| Date. | Number of Maravedis to the Cologne Mark. | Contents of Fine Silver, Grains. |
|---|---|---|
| 1312 | 130 | 25.85 |
| 1324 | 125 | 26.86 |
| 1368 | 200 | 16.79 |
| 1379 | 250 | 13.43 |
| 1390 | 500 | 6.71 |
| 1406 | 1000 | 3.35 |
| 1454 | 2250 | 1.49 |
| 1550 | 2210 | 1.52 |
| 1808 | 5440 | 0.62 |
To return. At the time of its adoption by the Christian powers of Spain, the maravedi (or sueldo de oro) was equal to 1⁄6 onza of gold.
To this maravedi de oro was subsequently given the name of Alfonsi, supposititiously from Alfonso VI., the first to issue them.
The first important change in this monetary system of Gothic Spain—though one of detail rather than system—was effected by Ferdinand II. of Leon, who, in 1157, coined the silver leones of the value of half the silver sueldo (= 12 dineros).
In 1222 S. Ferdinand introduced the sueldo pepiones.