Vellons

Vellons were a type of medieval European coin. The term vellon is thought to derive from the Latin word "vellus," meaning fleece, likely referring to the wool trade which was a significant economic activity during that period. These coins were typically made of billon, an alloy of silver and copper, with a low silver content. This meant that their intrinsic value was considerably less than that of pure silver coins.

Vellons were common in various Italian city-states and other parts of Europe from the 13th century onwards. Their production and circulation were often a response to the scarcity of silver and the need for smaller denomination currency for everyday transactions. The debasement of coinage by reducing silver content was a frequent practice, and vellons exemplify this trend. Different regions and rulers issued their own vellons, often with varying designs and weights, making their study a complex aspect of numismatics. The value of vellons fluctuated depending on the issuer and the prevailing economic conditions. They were gradually phased out as minting technologies improved and more stable silver coinage became available.