Count Captain Giuseppe Ivanovich victory against a ship from Tripoli

Struck in the weight of 40 Zecchini.
In the constitutional system of the Republic of Venice, the doge represented the State and therefore had the right to put his name on the monetary issues of the Republic. Instead, the management of the public treasury, state revenues and expenses, was the responsibility of the Senate. State expenses also included gifts of recognition to those who had distinguished themselves for services rendered to the Republic or to foreign ambassadors and official delegations guests of Venice. The Medals of Merit minted by the Senate responded to the above-mentioned need as they combined the symbolic meaning with a conspicuous "mercanal" value, that is, they were in practice ingots in the form of a medal. They are extremely rare both because their concession was not frequent, and because their very nature as a "concrete" gift induced the recipients, or their heirs, to have them melted down to transform them into current currency.