In order to facilitate regional trade, the Mogadishu Sultanate began minting its own coins, a move which had the effect of centralizing its commercial hegemony. The currency bears the names of 23 successive Sultans of Mogadishu. Some coins also adopted the style of the extant Fatimid and Ottoman currencies. The coins were also used by the Ajuuraan Empire, which later absorbed the Sultanate into its empire.
Mogadishan coins were in widespread circulation. Pieces have been found as far away as the present-day United Arab Emirates, where a coin bearing the name of a 15th-century Somali Sultan Ali b. Yusuf of Mogadishu was excavated. Over the course of three archaeological expeditions in Warsheikh between 1920 and 1921, Enrico Cerulli also uncovered coins from the medieval Sultans of Mogadishu. They were deposited in the Scuola Orientale of the University of Rome, but were later lost in World War II. According to Cerulli, similar coins were found in the village of Mos (Moos), located about 14 km to Warsheikh's northwest. Freeman-Grenville (1963) also record another discovery of ancient coins in the latter town.
- Chittick, Neville (1975). An Archaeological Reconnaissance of the Horn: The British-Somali Expedition. pp. 117–133.
- Julfar, an Arabian Port. Its Settlement and Far Eastern Ceramic Trade from the 14th to the 18th Centuries. by John Hansman, Royal Asiatic Society of Great Britain and Ireland - 1985