Selling Castile: Coinage, Propaganda, and Mediterranean Trade in the Age of Alfonso VIII

This chapter discusses one of Alfonso VIII's paths to solidifying and advancing his kingdom—his monetary policy. As did his contemporaries throughout Latin Europe, Alfonso VIII struck silver-alloyed denarii to serve as coins of daily exchange in an expanding monetary economy. He also introduced a high-value gold piece, derived from the dinar of his Muslim neighbors, which was more suitable for long-distance trade. In the early 1170s, Alfonso VIII took the monetary initiative that helped put Castile on the European map; he began striking the gold morabetino alfonsino in Toledo. Unlike some of Alfonso VIII's early billon, his morabetino shows no sign of being a short-lived propaganda piece. Its persistent appearance in charters, both in Castile as well as in Aragon-Catalonia and Navarre, shows it filled an economic niche. Indeed, Alfonso VIII's gold morabetino played a prominent role in the Mediterranean economy.