Struck in
the mid 1200’s, the gold florin made its impact across medieval Europe for
nearly three centuries. Crafted with approximately 3-3.5 grams of 24-carat gold,
the coin displays the "fleur-de-lis" badge (lily flower) of Florence on one side,
and St. John the Baptist is displayed on the other side. The gold florin, named
after the Republic of Florence, Italy, played a crucial role in medieval
business, banking, and trade. The gold florin was one of the first
international currencies exchanged in Europe, and is considered to be the
“Euro” of medieval times. The gold florin was convenient for larger
transactions such as trade and banking, and was commonly used to issue loans. As
mentioned by an article highlighting medieval banking, “Florentines also
invented the letter of exchange, whereby a banker would give a client an amount
of Florins in one city, with a pledge that the loan would be paid back at a
later date in another city/bank.” (NPR)
The gold
florin was one of the most important currencies during medieval times. The
florin was recognized by many kingdoms across Europe, and quickly became the
standard for exchange in international transactions. Economies were booming in
medieval Europe at this time, and trade was increasing greatly. The trade fairs
in Champagne, France testify to this medieval economic boom. The gold florin
provided a stable currency exchange rate during this time period. Without the
gold florin, numerous currencies would intermingle across borders. The gold
florin provided financial consistency in medieval Europe, and was the standard of
exchange for banks, trade, and organizations for centuries to follow. (ERF
pg.115)
Works Cited
Poggioli,
Slyvia. In Italy, Art As A Window Into
Modern Banking. 31 January 2012. National
Public Radio. Accessed 15 October 2019.
Web.
Richard A. Goldthwaite. The
Economy of Renaissance Florence. 2009. The John Hopkins University Press.
Baltimore, Maryland. Ebook: Accessed 15 October 2019.
https://books.google.com/books?id=OM2ckx49QFYC&pg=PT71&lpg=PT71&dq=gold+florin+florence+coin&source
Having a currency recognized by multiple states and governments is extremely important for trade to prosper. Also, 3-3.5 grams of gold, WOW that is a lot of money now. I wonder how it would compare to the English or French gold coins. Just about every monarch made their own coinage.
ReplyDeleteThe modern value of these coins would really show why people want to find them so badly
Deleteinteresting post. I wonder how much is it worth it today? Collectors must pay a lot to have them. It is crazy to think that every region of Italy for example had a different type of coin.
ReplyDeleteThis is a beautiful coin. Todays coins are not near as much value or of such beauty as they were back then. I also love the lily flower, I did not know was that was for the longest time until class the other day, when we were looking at heraldic crests.
ReplyDelete