French denier
(Redirected from Denaro (coin))
The denier (Latin: denarius; abbr. d.) or penny was a medieval coinwhich takes its name from the Frankish coin first issued in the late seventh century;[1] in English it is sometimes referred to as a silver penny. Its appearance represents the end of gold coinage, which, at the start of Frankish rule, had either been Byzantine or "pseudo-imperial" (minted by the Franks in imitation of Byzantine coinage). Silver would be the basis for Frankish coinage from then on. The denier was minted in France and parts of the Italian peninsula for the whole of the Middle Ages, in states such as the patriarchate of Aquileia, the Kingdom of Sicily, the Republic of Genoa, and the Republic of Siena, among others.
Contents
[hide]History[edit]
Coin[edit]
Around ad 755, amid the Carolingian Reforms, Pepin the Shortintroduced a new currency system which was eventually adjusted so that 12 pence (Latin: denarii; French: deniers) equaled one shilling (solidi; sols or sous) and 20 shillings equaled one pound (libra, librae, or lirae; livres).[2] Later, three deniers equaled one liard. Only the denier was an actual coin; the rest were money of account. This system and the denier itself served as the model for many of Europe's currencies, including the British pound, Italian lira, Spanish dinero and the Portuguese dinheiro.
Interest rates[edit]
In Ancien Régime France, the denier was used as a notional measure of interest rates on loans. Thus, a rate of 4% (1/25) would be expressed as "denier 25"; a rate of 5% (1/20) as "denier 20"; and so forth.[3]
See also[edit]
Florin (Italian coin)
The Florentine florin was a coin struck from 1252 to 1533 with no significant change in its design or metal content standard during that time. It had 54 grains of nominally pure or 'fine' gold (3.5 grams, 0.1125 troy ounce) worth approximately 140 modern US dollars. The "fiorino d'oro" of the Republic of Florence was the first European gold coin struck in sufficient quantities to play a significant commercial role since the seventh century. As many Florentine banks were international supercompanies with branches across Europe, the florin quickly became the dominant trade coin of Western Europe for large-scale transactions, replacing silver bars in multiples of the mark (a weight unit equal to eight troy ounces).
In the fourteenth century, a hundred and fifty European states and local coin-issuing authorities made their own copies of the florin. The most important of these was the Hungarian forint, because the Kingdom of Hungary was a major source of European gold (until mining in the New World began to contribute to the supply in the sixteenth and seventeenth centuries, most of the gold used in Europe came from Africa).
The design of the original Florentine florins was the distinctive fleur-de-lis badge of the city on one side and on the other a standing and facing figure of St. John the Baptist wearing a hair shirt. On other countries' florins, the inscriptions were changed (from "Florentia" around the fleur, and the name of the saint on the other), and local heraldic devices were substituted for the fleur-de-lis.
Later, other figures were often substituted for St. John. On the Hungarian forints, St. John was re-labelled St. Ladislaus, an early Christian king and patron saint of Hungary, and a battle axe substituted for the original's sceptre. Gradually the image became more regal looking.
The weight of the original fiorino d'oro of Florence was chosen to equal the value of one lira (i.e. a nominal silver pound of 20 soldi or 240 denari) in the local money of account in 1252. However, the gold content of the florin did not change while the money of account continued to inflate; by 1500, a florin was worth seven Florentine lire. The values of other countries' money continually varied against each other, reinforcing the florin's utility as a common measure of value for foreign exchange transactions.
See also[edit]
- Lira
- History of coins in Italy
- Soldo
- Venetian grosso
- Venetian lira
- Denaro (coin)
- Lira (medieval currency)
Sources[edit]
- http://www.gmmnut.com/gmm/sca/florin.html - See Discussion
- Philip Grierson (1991). Coins of Medieval Europe. Seaby, London. ISBN 1-85264-058-8.
- Peter Spufford (1988). Money and its use in medieval Europe. Cambridge University Press,. ISBN 0-521-37590-8.
- Peter Spufford (1986). Handbook of Medieval Exchange,. Royal Historical Society, London,. ISBN 0-86193-105-X.
- The Economy of Renaissance. Florence. Richard A. Goldthwaite [1]
- http://www3.telus.net/Quattrocento_Florence/economy.html BROKEN as of Feb 2011
External links[edit]
 | Wikimedia Commons has media related to Fiorino. |
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