Bracteate of Mieszko III the Old

Changing political and economic conditions in the 12th century, which on the one hand were followed by political disintegration and growing importance of local princes and nobles, and on the other hand by urban development and accompanying intensification of trade, contributed to the development of a new form of silver denarius. Bilateral denarii, produced with the use of a pair of stamps, were replaced by coins called brakteates (Latin: bractea), struck with a single stamp on a very thin silver plate. Such was the case in many German countries, the Czech Republic, Hungary and Poland, among others.

After the first Polish bracteates of Boleslaw the Wrymouth († 1138) the next ones were minted by Mieszko III (1173-1202), introducing the domination of brakteates on the Polish money market, which lasted until the beginning of the 14th century. Mieszko used his right to issue money as an important tool to increase the income of the ducal treasury. The profit from minting was made by compulsory exchange of coins several times a year, according to calculations favourable for the issuer. The newly introduced coins bore different images from the previous ones, which were more legible on brakteates in comparison with thicker but smaller bilateral coins. This policy was to be served by efficient mints, put under the management of prolific Jewish entrepreneurs, who adapted the brakteat technology to them. The use of a single stamp, under which several disks were placed at the same time, streamlined work in the mints and increased their efficiency.

Mieszko's fiscal policy together with his aspirations to centralise the country caused dissatisfaction of the nobles and the district princes, who removed him from the throne in Kraków in 1177. The progressive decline of the supreme authority at that time resulted in the right to issue currency being taken over by the mighty and local princes. Mieszko, who minted his coins in the hereditary province of Greater Poland, also fell into this position. One of the several dozen types of bracteates attributed to this ruler is a coin with a representation of the prince wearing a helmet with a palm branch and with illegible Hebrew letters on our coin, probably meaning Gniezno. The palm branch in the hand of the prince-knight is interpreted as a symbol of strength, victory and justice.

Tomasz Markiewicz