Rossan Argotto

The Rossan argotto (from the Rossan argento for "silver" and otto for "eight") is the official currency of La Rossa. In 654 TT, by decree of Dux Francesco Buonestrotti di Buglio, paper banknotes were introduced with a fixed exchange rate with silver, the dominant currency at the time. The value of a single argotto was standardized at ⅛ of a Rossan ounce, based on the popular practice of cutting one ounce coins into pieces of eight. La Rossan banknotes are issued by Banca Rossa, the central bank of the Republic of La Rossa.

After the pre-Calming Silver Crisis, which started in 1 PC after the exhaustion of silver from the mountains of Montesuvia, a wave of populist governments introduced a number of fiscal and monetary reforms, including the abolishment of the silver standard in the year 16 PC.

Coins

Prior to 654 TT, coins were minted locally in each the nation's six city-provinces - Buglio, Salino, Mineria, Padeno, Lorma, and Tolia - without much regulation. Before this date, coinage derived its value from its weight in silver, and varied in size across the provinces. After the introduction of the paper banknote, the weight of a silver coin was standardized at a single ounce per coin, and tied to the value of eight argottos. While minting continued to take place locally, and coins continued to bear faces of local nobility, Banca Rossa would begin to monitor the weight of coinage through regular inspections across the Republic's mints. They would be used concurrently with paper banknotes for several centuries.

After the start of the Silver Crisis, the mintage of coins has been permanently halted, and a majority of coins have been smelted down. A small collection of old coins has been preserved in the Banca Rossa building in Padeno for archival purposes. While the Rossan government continues its program of exchange of money for silver, it no longer continues to do so at a fixed rate.