Author Topic: More on the history of money, one of my favorite subjects ...  (Read 50 times)

Offline Baruch

More on the history of money, one of my favorite subjects ...
« on: August 05, 2018, 03:34:27 PM »
Great Britain:

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USA:

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Offline Baruch

Re: More on the history of money, one of my favorite subjects ...
« Reply #1 on: August 05, 2018, 03:39:25 PM »
More detail on early US coins ...

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The first US cents (not pennies) were based on the privately issued half penny from GB.  At that time, there was a shortage of government small change, and many people made private half pennies.  This happened in the US later, in the Great Depression of 1836 and the Civil War of 1861.

The real coin standard of the British Empire (courtesy of the Bank of England) was the silver shilling and the gold guinea.  Monetizing the small transactions fo the common people didn't become important until the 19th century, most people still did did barter.  Gold is rich-people money.  Silver is middle-class money.  All told 90% or more of the population of GB at that time was poor.  Enlisting in the British Army during the Napoleonic wars was called "taking the king's shilling".  Navy recruits were suitably "impressed" ;-(
« Last Edit: August 05, 2018, 03:44:13 PM by Baruch »
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Offline Baruch

Re: More on the history of money, one of my favorite subjects ...
« Reply #2 on: August 05, 2018, 04:28:39 PM »
Lydia/Ionia on the E coast of the Aegean, invented coined money opportunistically (local supply of electrum, natural gold/silver alloy)

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Offline Baruch

Re: More on the history of money, one of my favorite subjects ...
« Reply #3 on: August 07, 2018, 10:26:50 PM »
Particularly choice examples of ancient coins ...

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