A piece of money that was used for payment in earlier times, but has not been used for a long time. – It is one of the most difficult tasks of financial history to determine the value of corresponding means of payment. Because – there were coins of different value with the same name in circulation one after the other and sometimes even next to each other, such as the florin. In addition – that the purchasing power of similar circulating coins at the same time in different parts of the country often differed considerably. The reason for this is that the exchange of goods was often essentially limited to one region, i.e. no wide-ranging national economy in the modern sense with market transparency and regular traffic on roads, rivers, canals and later by rail and air can be assumed. For this reason also coin contracts for the determination of the purchasing power are to be used always with large reservation. Even more so, conversion tables based on them are hardly helpful even in respected historical textbooks. In probably no other field of historical science, but unfortunately also in economic history, so many errors were and are still spread as in the determination of the value of old coins. – See Geldkunde, Geldtheorie, Kontorwissenschaft, Konventionsgeld, Münzcommis, Numismatik.
Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!
University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: firstname.lastname@example.org