The silver species current in Florence in 1345 were quattrini and Guelfi del fiore. These coins were of the same standard as above (11 1⁄2 oz.), were coined at a tale of 167 to the libbra, and issued at an equivalence of 30 piccioli. The libbra of this silver, therefore, by Florentine Mint rate was valued at 20 lire 17 soldi 6 denari di piccioli. Abroad, therefore, the price of silver was a matter of slightly more than 5 lire higher than in Florence.
The same result could be got by taking the billon money of Florence and calculating from its silver contents. Page 20
The natural result was a disappearance of silver. The only remedy was a recoinage, and this was applied by the law of 19th August 1345. By this law the standard of 11 1⁄2 oz. was retained, the tale of the Grossi was increased to 134 pieces to the libbra (132 being rendered to the merchant, and 2 retained for Mint expenses), and each piece issued at