The tornesello base silver coin was produced for circulation in the Venetian colonies, such as Greece and Crete during the 14th century. Documentary evidence indicates that the fineness of the coin, when first introduced, was 11% silver. However, by the mid-15th century its value, relative to the gold coinage, had decreased to 40% of its original value. A number of coins were analyzed by neutron activation analysis (NAA) to see if debasement was responsible for this devaluation. In fact the composition was found to agree with the documentary evidence and remained undamaged throughout its production. The devaluation is ascribed to the overvaluation when first produced and the large numbers in circulation. -- AATA