Download e-book for kindle: A History of Money: From AD 800 by John F Chown, Forrest Capie

By John F Chown, Forrest Capie

ISBN-10: 0415102790

ISBN-13: 9780415102797

This ebook offers an in depth and marvelous heritage of cash from Charlemagne's reform in nearly AD800 to the top of the Silver Wars in 1896. It additionally summarizes 20th century advancements and locations them of their ancient context.

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This is ‘in sharp contrast to that of Florence’ where data has been compiled by Richard Goldthwaite and others. France By this time the concept of large silver and gold coins had spread beyond Italy. In France, Louis IX the Pious, subsequently canonised as St Louis, and later giving his name to an American city with a high reputation for sound monetary thought, instituted a general monetary reform. He began by strengthening the ‘royal’ status of the denier tournois which was rapidly superseding the many feudal issues.

Gould estimates output at £451,811, silver and £263,130 for the gold. Henry died on 28 January 1547/8 (old and new style) but coins of his sixth coinage continued to be struck during the first couple of months of the reign of his young son, Edward VI. Edward’s first coinage was under the indenture of 5 April 1547. There was no change in the quality of either metal although there was a small increase in mint price, a modest reduction in seigniorage. Some of the groats and smaller coins were struck bearing the portrait of Edward VI himself.

This still gave the name of the mint and the moneyer. Henry had learnt from his father’s expensive mistake but went to the other extreme. This time the operation was a source of profit to his brother, Richard of Cornwall. Richard had acquired a stock of 10,000 marks of silver and could in effect ‘prime the pump’ by having this coined into long cross coins. These were then available to provide an instant exchange to those who brought short cross coins to the mint. This time coins were accepted only by weight and the mint charged a very high seigniorage of 13 pence out of 240.

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A History of Money: From AD 800 by John F Chown, Forrest Capie

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