Coins
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to be imported from outside Europe and was much more valuable. By the
13th century, rising prosperity in the Italian republics prompted them to be-
gin issuing gold coins. These coins were worth much more than silver coins,
so they could be used more effi ciently for large volumes of trade.
Most European coins used the Latin alphabet and spelled proper names
as Latin words. Roman numerals were the only numbers until the 15th cen-
tury, when a Swiss coin fi rst used the new Arabic numbers. Coins from Mus-
lim Spain used Arabic, and Byzantine coins were in Greek. Some European
moneyers in Christian countries struck coins with Arabic inscriptions, in-
tending them to be used in trade with Spain or North Africa. Anglo-Saxon
coins from the early Middle Ages used runes to spell a king’s name, as did
Swedish and Norwegian coins. Primitive Russian coins used Cyrillic letters,
and, rarest of all, some Jewish moneyers in Poland struck coins with He-
brew letters.
Countries and Their Coins
Italy’s coin history stretches back to the Roman Empire, whose coins be-
came the model for all later coins. Italy, like the rest of Europe, became
fragmented into many principalities during the years of barbarian invasions,
fi rst Goths and then Lombards. The only strong kingdom in medieval Italy
was not of Italian origin; invading Normans had created the kingdom of
Sicily, which included most of Italy south of Naples, as well as the island
of Sicily itself. But the real centers of power became the commercial cities:
Milan, Genoa, Venice, Florence, Pisa, and others. The doge of Venice pro-
duced a fi ne silver grosso, of greater value than previous coins, for trade
connected with the Fourth Crusade. Venice’s grosso was copied by other
cities, which attempted to keep its value the same but with an added local
design, such as a lily for Florence. Gold coins produced in the 13th century
became the international standard of European trade, including the gold
fl orin of Florence and the gold ducat of Venice.
In the early Frankish kingdom, under the weak Merovingian kings, local
barons struck coins in both the king’s name and their own names. There was
no central control over coins. Around 790, Charlemagne reformed Frankish
currency in a way that defi ned European coinage for a thousand years. He
created a silver penny, the denarius (denier in later medieval French), such
that 240 of them weighed a pound. The solidus was an intermediate value,
worth 12 pennies; 20 solidi (shillings in English) made a pound. The only ac-
tual coin, though, was the denarius, or penny. Carolingian pennies were
struck with high-quality dies, with very high relief in the images. Charle-
magne wished to have the coins all minted at his capital, Aachen, but instead,
coins were minted regionally, in places like Rheims, Rouen, Paris, Lyon,
Strasbourg, Maastricht, Milan, Pavia, and others. After the Carolingian dy-