WORLD COINS

Alfonso V, who reigned from 1438 to 1481 (under regency until 1448), was known as "the African" for his campaigns on that continent. In the numismatic field, he introduced numerous new coins. The silver pieces known as "LEAL," created by King Edward in 1434-1435 to stabilise the currency, had a fineness of 11 dinheiros, considerably higher than previous issues (hence their name), and a face value of 10 reais brancos. However, they were later revalued; in 1441, their exchange rate was raised to 12 reais brancos. Production of the leal ceased shortly after the reform of 1457, giving way to the reais grossos, of higher weight and valued at 20 reais brancos. The leal became the principal silver coin during the early part of King Alfonso's reign, who sought to consolidate power against potential rivals, many of whom were from the royal family. The coin's exceptional quality made it highly coveted, with each piece being exchanged for 30 reais in 1479. On the obverse side, the leal featured the king's crowned initial, while the reverse displayed the royal coat of arms. The obverse legend bore the royal title and the reverse featured text from the "Laudes Paschalis," a liturgical hymn widely used throughout the Western world since the time of Saint Louis: XPS VINCIT XPS IMPERAT XPS REGNAT. This reform coincided with the king's acceptance of the Crusade against the Turks, promoted by Pope Callixtus III (1456), which led him to create a large fleet financed by the new gold coin, the cruzado." Following the sudden death of the pontiff, the Portuguese armada redirected its course to Morocco, where it conquered Ksar es-Seghir (1458), initiating the great military and exploratory expansion in the region that would characterise his reign.