Concedimus et largimur ius cudendi monetam tam auream quam argenteam et aenam, et cuiuscumque alterius materiae et formae, dummodo tamen debito et iusto pondere et modo, uti fieri debet, faciat, et cum hac conditione quod in eo Aquila imperialis insculpatur.

We grant and give away the right to strike coins of gold, silver, bronze, and any other material and form, provided, however, that they be of due and proper weight and in the manner in which it should be done, and with this condition that the imperial eagle be engraved upon them.

[2] Giovanna Carafa, wife of Gianfrancesco Pico and defined as a "tyrannically avaricious woman",[3] was accused by the partisans of her nephew Galeotto II Pico of having forged the gold coins out of resentment towards her husband, but she blamed the Jewish mintmaster Santo di Bochali (a mere executor of the sovereign's wishes), who had all his goods confiscated[4] and was beheaded in the main square by order of Giovanfrancesco to save his wife's reputation.

Unfortunately, as had already happened in the past, Agostino Rivarola began to mint a great many counterfeit and fake coins (dicken with the effigy of St Possidonio, groschen and florins), destined above all for northern Europe, which was suffering from a severe economic crisis caused by the Thirty Years' War and epidemics.

Around 1630 the Mirandola mint was reopened and entrusted to the Jew Jacob Padua, who after his conversion to Christianity called himself Gian Francesco Manfredi (he was sentenced to death too for forgery in Modena).

On 21 January 1634, in Turin, Victor Amadeus I, Duke of Savoy issued the Nuovo bando delle monete basse di zeche forastiere, e specialmente delle improntate al piede del presente ordine: although this ban does not expressly mention the coins of the Mirandola mint among those banned, it does depict a coin bearing the coat of arms of Duke Alessandro I Pico at the bottom.