Cracow Ducat of Sigismund I

The collection of the Numismatic Department of the National Ossoliński Institute includes the first Cracow ducats, which began to be minted in 1528, during the reign of Sigismund I. The gold coins culminated a series of monetary reforms carried out from 1526 to 1528. The Sigismund I’s mint reform introduced a modern, multi-nominal value monetary system in Poland, in which ducats were to play a very important role. Polish ducats were minted according to the Hungarian ducat standard. They had the purity of 23.5 karat gold (979/1000) and weighted 3.560 g. On the reverse there was a four-field escutcheon: successively with the coats of arms of: Kingdom of Poland (crowned eagle), Grand Duchy of Lithuania (the Pahonia), Ruthenia (lion facing left), Royal Prussia (eagle with sword above the head). In the centre, in the so-called “heart field”, there is a small escutcheon with the coat of arms of the Habsburgs, which belonged to Elżbieta Rakuszanka – King Sigismund The Old’s mother. On both sides of the shield are the initials C and N. The first of these should be identified with the city of Cracow, where the ducat was struck. The second comes from the name of Mikolaj Szydłowiecki (Nicolaus), who at that time held the post of Grand Treasurer of the Crown. On the reverse, instead of the inscription traditionally used on gold coins, there is a quotation from the Book of Psalms: IVSTVS VT PALMA FLOREBIT (PS.91.13).