Ulászló I (Władysław III) King of Hungary reigned between 1440 and 1444. During his reign, he issued various coinages that reflected the economic and political conditions of the era. The gold forint was the most important and widespread gold coin of Ulászló I. The coin was a typical representative of the gold currency of the time and was extremely valuable. The coins of Ulászló I are markedly distinguished from the gold forints of his predecessors by the depiction of the Polish eagle and the Lithuanian knight appearing as family crest elements. The silver denar was the most common silver coin in the time of Ulászló I. The coin had a relatively lower value compared to the gold forint. In addition to the relative stability of the gold coin, the value of the silver coins showed significant fluctuations. For example, Ulaszló I's coins (until 1467) contained only 1/4 of silver. I. During Ulaszló's time, silver coins, also known as white money, were also in circulation. These coins were of lesser value than denarii.