Venice mints the ducat. Florence had already minted the widely used florin. Florence and Genoa are the first Western cities to mint gold coins. Venice, in addition to the gold ducat or gold zecchino, also mints coins of lesser value, such as the silver grosso (240 grossi equal one grosso lira) or the piccolo (240 piccoli equal one piccolo lira). One gold ducat is worth approximately 24 silver grossi, depending on the value of the two metals.
