Piero was the son of Cosimo de' Medici the Elder and Contessina de' Bardi. During his father's life, he did not play an extensive role due to his perpetual poor health, the source of his nickname. His brother Giovanni was named as Cosimo's executor, but predeceased his father. In 1461, Piero was the last Medici elected to the office of Gonfaloniere. His gout often kept him confined to bed. This meant that his bedroom effectively became his office, where he would conduct political meetings. This led to the Medici palace becoming the seat of government in Florence. Upon taking over the Medici bank from his father, Piero had a financial overview prepared. The results led him to call up a number of long-standing loans, many to various Medici supporters, which his father had let stand. This immediately drove a good number of the merchants involved into bankruptcy and added to the ranks of those who opposed the Medici. Although not as brilliant a banker as his father, he was able to keep things running smoothly during his tenure. His time as leader of Florence was marked by an attempted coup led by Luca Pitti, Niccolò Soderini, Diotisalvi Neroni, Angelo Acciaiuoli and his cousin Pierfrancesco de' Medici, who used troops provided by Borso d'Este, Duke of Modena and Reggio, and commanded by his brother Ercole d'Este, planned for 26 August 1466. Piero was warned by Giovanni II Bentivoglio and was able to escape the coup, in part because his son Lorenzo discovered a road-block set up by the conspirators to capture Piero in his trip toward the Medici Villa di Careggi; he was not recognized and was able to warn his father. The coup failed, as did an attempted repeat backed by Venice, using troops commanded by Bartolomeo Colleoni. It has been argued that the "coup" was in fact a legitimate attempt to limit the power of the Medici faction and restore a system of government in keeping with Florence's traditional republican ideals, and that to refer to it as a "coup" or a "conspiracy" legitimizes Piero's de facto and hereditary status as leader of the city. In 1467, Piero had to face a war against the Republic of Venice prompted by the Florentine support given to Galeazzo Maria Sforza, the new duke of Milan. However, the Venetian army under Colleoni was defeated at the Battle of Molinella by a league of Florence, Naples, the Papal States and Milan. He also continued the family's tradition of artistic patronage, including Gozzoli's fresco Procession of the Magi in the Palazzo Medici Riccardi. His taste was more eclectic than that of his father, extending to Dutch and Flemish artworks. He continued to collect rare books, adding many to the Medici collections. He died in 1469 as a result of gout and lung disease and is buried in the Church of San Lorenzo, next to his brother Giovanni. The tomb, created by Andrea del Verrocchio, was commissioned by his sons Lorenzo and Giuliano.
