Manuel's reign is notable for being the first Emperor of Trebizond to issue large numbers of coins. This is important for two reasons: the first is that issuing coins in a precious metal, such as silver or gold, is commonly considered a demonstration of sovereignty by a ruler; the second is that the volume of coins issued by a ruler is frequently used as an indicator of economic activity. Although some copper scyphates have been identified as coming from Andronikos I Gidos' mint, according to Otto Retowski over 200 types of silver aspers—the characteristic coin of the Empire—were struck then, more than any other ruler of Trebizond, in addition to other silver and bronze currency. (John II is a distant second, having struck around 138 types of aspers during his reign.) Trapezuntine coins circulated widely outside the empire, especially in Georgia. His coins became so common there that his name became the generic word in Georgian for money; "kirmaneoul" is derived from "kuros' Manuel" or "Caesar Manuel".