Eagle penny

The Eagle Penny, also known by its Italian name Aquilino, is an important medieval silver coin that was minted in Merano from 1259 onwards under Count Meinhard II of Gorizia-Tyrol and his brother Albert. This early groschen coin is one of the first high-value silver coins to be minted in the Alpine region and marks an important step in the development of coinage in the region. The name ‘Adlergroschen’ is derived from the coin’s design: a stylised single- or double-headed eagle, which served as a symbol of the Roman-German Empire, is emblazoned on the reverse and gave the coin its characteristic identity.
The Adlergroschen was introduced at a time of economic and political upheaval, when there was a strong demand for stable silver coins that could be traded across regions. With the Groschen, the Tyrolean counts adopted an innovation that was already established in northern Italy, where the so-called ‘Grosso’ was put into circulation as a heavy silver coin. The Aquilino or Adlergroschen was based on these models in terms of weight and fineness, but quickly established itself as an independent coin with regional influence. In Merano, an important centre of Tyrolean coinage, the Adlergroschen was produced under strict controls and with high-quality silver, which made it widely accepted in interregional trade.
In a numismatic context, the eagle groschen is a remarkable example of the early development of groschen currencies in the Holy Roman Empire. It not only illustrates the technical and economic competence of the coin masters of Tyrol, but also reflects the symbolic political use of the imperial eagle as a sign of legitimate rule. The Aquilino quickly became a model for similar coinage in neighbouring territories and had a lasting influence on coinage in Central Europe. Of particular interest to collectors and historians are the various variants, which differ in details of the eagle’s depiction, the inscriptions or the mint marks. They allow precise chronological and geographical classification and offer deep insights into the coinage history of the late Middle Ages.
Today, the Adlergroschen is one of the most sought-after pieces in medieval numismatics. It combines historical relevance with aesthetic appeal and is exemplary of the beginnings of a supra-regional coinage system in the German-speaking world. As an early example of a silver groschen coin with imperial symbolism, the Aquilino is not only of economic significance but also of historical importance and is a fascinating testimony to the interplay of politics, economics and coinage art in the High Middle Ages.