Italian, Venetian, 'Ducat of Doge Francesco Dandolo', 1329-39

During the Middle Ages, West Africa was one of the major sources for gold entering Europe. From the 8th century, the metal had been extracted from significant gold deposits along the Falémé and Niger rivers in modern-day Senegal and Mali. It was then transported across the Sahara Desert along well-established caravan routes in the form of gold dust and bullion. From north Africa, it was sold and exchanged across the Mediterranean and beyond.

The increasing availability of the metal, and its intrinsic value, meant that it could reliably be used as a stable and secure form of currency in Europe. While southern Italy had an earlier tradition of minting gold coins, the great economic powers of northern Italy did not mint their own gold coins until the later 13th century. Italy’s ‘Commercial Revolution’ in trade and finance brought an increase in the production and circulation of gold coinage. In 1252, Florence introduced the florin and Genoa established the genovino. Ducats, minted in Venice, followed in 1284. These Venetian coins depicted Christ blessing, with an image of the Doge, Venice’s ruler, kneeling before Saint Mark on the other side.

In medieval Europe, the gold leaf used in paintings and textiles was produced by hammering out gold coinage into extremely thin sheets. In Florence, where some of the finest gold leaf was produced, the artisans responsible for this delicate task belonged to the same guild as painters. After it was beaten, gold leaf would be cut into squares (typically around 7–8 cm wide) and then sold ready for use in an artist’s workshop.