Venice first minted the ducat in 1284, and it became a major European trade currency.
The Venetian ducat was a gold coin introduced under Doge Giovanni Dandolo. It weighed about 3.5 grams and had a high, consistent gold purity, qualities that helped merchants trust it in international transactions. Its design showed the doge receiving a banner from Saint Mark on one side and Christ seated on the other.
The coin’s reliability made “ducat” a widely used name beyond Venice. Other European rulers and states later issued coins called ducats, although their precise designs and issuing authorities differed.
The Venetian ducat should not be confused with Florence’s florin, another influential medieval gold coin. The florin was first minted in 1252, while the Venetian ducat appeared in 1284 and eventually became especially prominent in Mediterranean and European commerce.