In these days of financial crisis, it's important to have your investments in hard currency like the pound or the dollar. This has always been the case.
The later Roman Empire saw serious economic upheavals and a debasement of the coinage. Emperors tried to pay their expenses by minting more coins with less valuable metal, but of course people noticed and this led to inflation.
The Emperor Justinian (ruled 306-337 AD) reversed this trend by creating the solidus, a pure gold coin set at 1/72 of a Roman pound (about 4.5 grams). This helped stabilize the economy, but didn't save the Western Roman Empire from being overrun by Germanic tribes in the following century.
In the east, Rome continued as the Byzantine Empire, and the solidus was the benchmark currency. The solidus was trusted everywhere, and has been found as far away as India and China. It remained unchanged until the 11th century, when Byzantium started having economic problems of its own and the coin was debased. Even so, the old solidi remained in circulation through most of the Middle Ages. We have lots of examples of this coin because, unlike many other coins, it was such a trusted currency nobody wanted to melt it down for its metal.
For more on medieval money, check out my post on small change in the Middle Ages.
Photo of a solidus from the reign of Julian (reigned 361-363 AD) courtesy Wikipedia.
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Showing posts with label medieval coins. Show all posts
Showing posts with label medieval coins. Show all posts
Sep 9, 2013
Jan 14, 2013
Medieval Mondays: The Globus Cruciger, proof that people knew the world was round before Columbus
There's a popular belief that people didn't know the world was round back in the Renaissance and that it took a brave explorer named Christopher Columbus to prove them wrong. Supposedly everyone warned Columbus not to sail out into the Atlantic because he'd fall off the world's edge.
Of course my readers are smart enough to know this isn't true, but the story has widespread appeal. Anyone who has studied history knows that the Classical Greeks had already proven that the world is round and that knowledge wasn't lost among the educated.
Proof of this can be found on many medieval coins and statues. A traditional mark of Imperial or royal power was the Globus Cruciger, a globe with a cross on top of it to show that the Christian God ruled over the world and that the ruler was his representative on Earth. The globe, of course, symbolized the Earth.
Yep, a globe!
The earliest use of the Globus Cruciger for a ruler is found on the coins of the Byzantine Emperor Theodosius II, who ruled from 408 to 450 AD. You can see one above. The cross-and-globe was a popular symbol throughout the Middle Ages and Renaissance and continues to be used in royal courts to this day. To the right you can see an illustration of Charles II of Hungary made in 1488, four years before Columbus made his first voyage.
So the idea that the world was round was plainly visible in the royal court and on many works of art and currency. Of course a lot of common, uneducated people back then probably did think the world was flat!
Photos from Wikimedia Commons.
Oct 15, 2012
The Maine Penny: an archaeological mystery
While every history reader knows the Vikings came to North America around 1000 AD, that wasn't always the case. A half century ago, there was heated debate over whether the Vikings had reached so far west. The Vinland Saga seemed to indicate they had, but there was no real evidence. It wasn't until the excavation of L'Anse aux Meadows in Newfoundland in 1978 that there was definitive proof that the Vikings colonized North America.
There was some evidence before this. In 1957, archaeologist Guy Mellgren was excavating a midden (trash heap) at a Native American site in Maine discovered this silver coin five inches below the surface. Coin experts determined it was minted in Norway between 1065 and 1080 AD. This set off a huge controversy. Some archaeologists even accused Mellgren of "seeding" the site in order to win fame.
Now that we know the Vikings did come to the New World, Mellgren has been vindicated. He hadn't found a Viking settlement, though. The site was purely Native American and now researchers believe the coin made its way south as a trade item. It's now in the the Maine State Museum.
There was some evidence before this. In 1957, archaeologist Guy Mellgren was excavating a midden (trash heap) at a Native American site in Maine discovered this silver coin five inches below the surface. Coin experts determined it was minted in Norway between 1065 and 1080 AD. This set off a huge controversy. Some archaeologists even accused Mellgren of "seeding" the site in order to win fame.
Now that we know the Vikings did come to the New World, Mellgren has been vindicated. He hadn't found a Viking settlement, though. The site was purely Native American and now researchers believe the coin made its way south as a trade item. It's now in the the Maine State Museum.
Sep 12, 2012
Medieval penny found at Richard III dig
Suspense author Jeremy Bates wanted to see the medieval silver penny that was found at the excavation in Leicester looking for the body of Richard III. Ask, and ye shall receive! This comes courtesy the University of Leicester. Not sure what the date is for this, I'm not much of a numismatist. This is the reverse side and looks like the pennies minted during the reign of Edward IV, who ruled during the troublesome War of the Roses, sitting on the throne twice from 1461-70 and again from 1471-83. The date certainly fits with Richard's burial in 1485. I could be wrong, though.
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