A small coin of little value formerly used in the Papal States and other Italian territories, worth approximately a penny in old currency systems.
Italian word of uncertain origin, possibly from a place name, or from a word meaning 'brass' or 'copper' referring to the metal, used for minor papal coinage.
The baiocco survived longer than many currencies because it was so useless—governments kept minting them for tiny transactions that nothing else could handle, making them the ultimate small change.
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