Questions tagged [money]

Use for questions related to the history of money and methods of payment. The tag could be also used for asking for a particular system or currency (e.g. the British pre-decimal system before 1971).

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18
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3answers
4k views

How did bank transactions (or “data” transactions) work when it took people weeks to travel vast distances?

I am designing a prototype for a distributed database that could work across vast distances of space, like the goals behind IPFS working at planetary, or galactic, scale. I want to solve the problem, ...
2
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0answers
115 views

Are there examples of marking coins to know how they are used?

I've seen in a video game (Empire: Dawn of the modern world) that the king of Korea was putting mark on some coins to have a better idea of how this money is spent (in this story, it is used to ...
2
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1answer
149 views

In the 19th century were paintings and collectibles worth, inflation adjusted, anything like today's prices?

My sense is that collectibles in general, including coins and comic books (not sure the analog of comic books existed in the 19th century) are worth far more by any measure, even taking inflation into ...
25
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3answers
4k views

How did the Bolsheviks fund their government? [closed]

I came across this from a telegram sent by a Mr. Lindley in Russia to Mr. Balfour in London.— (Received November 28.) (Telegraphic.) Archangel, November 27, 1918. Principal reason why Bolsheviks have ...
2
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0answers
309 views

Was Mansa Musa's gold as serious an inflationary problem in Mamluk Egypt as is portrayed, and, if so, how did the Mamluks recover from it?

There are numerous sources claiming that Mansa Musa, King of Mali, was one of the richest people alive (#1, #2). Essentially, these claim that Musa was one of the richest people in the history of the ...
2
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1answer
84 views

When did the first electronic money transfer / digital transaction happen using computers?

I tried to find out when the first digital transaction using computers happened, but could not find a specific date. By digital transaction I mean a money transfer between two banks (I assume it was ...
5
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0answers
132 views

Was Byzantine land incredibly cheap compared to bread?

I am reading the fascinating THE ECONOMIC HISTORY OF BYZANTIUM, available here. I gather that 1 modios of land was something less than 3000 square metres and for the best land was worth about 1 ...
0
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1answer
244 views

What was the value of a thousand talents in Roman Palestine about AD 33?

My question is simple, "what was the value of a thousand talents in Roman Palestine about AD 33?" It is my impression that a thousand talents would have been a vast amount of wealth for that time. ...
5
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3answers
356 views

Are there any examples of recurring payments in ancient times?

I'm interested in the history of recurring payments. The farthest I could get to is the feudal system, where peasants paid rent to knights once every so often. Obviously the banking system in the late ...
-5
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2answers
153 views

Did any country ever suppress the value of money?

I am thinking of events such as massive disease, starvation of war, during which physical resources and manpower were so important that it did not make sense anymore to count them with money. As a ...
-2
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1answer
109 views

How was the reichmarks to deutschmarks supported?

I saw on a TV show that the West Germany, during the Cold War, faced an explosion of Reichmarks which became inflation. The Americans were making the Marshall plan in favour of West Germany. During ...
8
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3answers
535 views

At what point after the war did Confederate money begin to attain value again?

At the start of the U.S. Civil War, the Confederate States of America began to print their own money. Almost immediately it began to lose value due to inflation (except in 1864). By the end of the ...
9
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1answer
376 views

When and why did round coins become a practical standard?

In the world today many countries (probably most if not all, but I don't have a reference) use round coins. It's clear that some coins of ancient times were not round, as can be seen here. At which ...
7
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1answer
160 views

Does any of John Sutter's tin money survive?

John Sutter was a Swiss settler and investor in the late Mexican era of California. I have only seen secondary sources on the matter, but apparently his colony New Helvetia had bespoke coinage: ... ...
5
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2answers
526 views

How were large monetary transactions conducted in medieval Europe?

Recently, I have read in the news about a large hoard of Norman coins in England being found. Apparently, all of these coins were silver pennies. And then it occurred to me that small silver coins ...
0
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1answer
241 views

Was the introduction of paper money controversial like cryptocurrency?

I dont know much about cryptocurrency, but I know it is controversial. There are people on both sides. Is there historical evidence that paper money faced a similar thing? Were there people that ...
0
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1answer
172 views

How do kings secure their treasury? [closed]

What part of a King's administrative structure ensures that the Treasury functions as expected, without employees taking advantage of their position (like manipulating accounts and stealing treasure, ...
1
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3answers
175 views

How did redenomination prevent the Weimar Republic from further decline?

My school is currently teaching us European History in the 20th century, and we were on the topic of the Weimar Republic. It got me thinking, how exactly did redenomination of currency save the ...
11
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1answer
722 views

What were the rejected designs for the Euro symbol?

The Euro symbol (€), supposedly but not certainly designed by Alain Billiet, was selected from a pool of proposals. According to a very official-looking document from europa.eu: Some thirty drafts ...
0
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3answers
836 views

Where did all the money go? [closed]

If you had $1 when Caesar was assassinated 2063 years ago and had saved it with 2 % real interest rate you would have 1,02^2063 = 5,5 x 10^17 dollars today. Even if it is difficult to translate the ...
0
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0answers
88 views

How much would it cost to bribe a prison warden in New England in the year 1800?

The value of money from one decade to another is a very confusing topic - in my opinion, anyway. For instance, something called the CPI Inflation Calculator states that $1 in 1800 was the equivalent ...
3
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1answer
133 views

How did the debt collection of Gregorius IX work?

In Dan Jones' 'The Templars', a paragraph details in broad terms how the Templar Order assisted the reigning Pope, Gregorius IX, with his debt collection over numerous Catholic realms. This is the ...
1
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2answers
208 views

How was money transferred in early 1900s' Russia?

I'm reading Young Stalin by Simon Sebag Montefiore. The book frequently quotes letters between him and fellow revolutionaries, often when he was in internal exile in some obscure corner of Siberia. ...
9
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2answers
943 views

Why does some Califate money feature crosses?

Why does some Muslim money feature crosses? Like the following ones: Was the cross an early Muslim symbol?
5
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1answer
740 views

What is the approximate value of a Spanish ducat in 1557?

In the text of "A narrative of the expedition of Hernando de Soto into Florida published at Evora in 1557" the anonymous author states that de Soto "... gathered a hundred and four score thousand ...
0
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1answer
70 views

Worth of an old 1/4 tanka coin when it was active 1516-1526

Can someone tell me what was the worth of a quarter tanka in India when Ibrahim Lodi's was the ruler (1516-1526 CE) or what a quarter tank could buy at that time?
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1answer
170 views

What is this Canadian Half Dollar? Cannot find it anywhere [closed]

I just found this half dollar in my house. perfect condition? is this worth anything?
25
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2answers
3k views

When and where were the first coins made showing the currency or a face value?

According to this article Origin and Evolution of Money, coins ...for many centuries...were guaranteed by their intrinsic value, that is to say, by the trade value of the metal used in their ...
2
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1answer
228 views

Do you know this variety of 1856 Flying Eagle cent?

I have seen other flying eagle cents that have United States of America around the eagle but not the stars. And on the obverse it has United States of America around the reef.
5
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1answer
355 views

Medieval symbol for money/trade/banking

I take part in arranging a medieval fair. As part of that I have the task of creating a pair of moneyboxes for use at the counter of the main place where the visitors can buy something to eat and ...
1
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1answer
3k views

In 1947, how many Reichsmarks would 1 U.S. dollar buy?

What was the 1947 value of 7,200 Reichsmarks in U.S. dollars? What was the 1947 exchange rate of the U.S. dollar for the Reichsmark?
0
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1answer
102 views

Research on the unit “Mark” [closed]

Friends! First of all, thanks for your time and help. I'm conducting a research on the word "Mark": it all started in a forgotten language, meaning "forest". Since forests were natural borders, the ...
5
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1answer
279 views

German 10 zehn heller

This 10 zehn heller , which I believe at the top on the reverse says "Notgeld" but it is really hard to make out. The date looks like "1827" but is probably 1923 and it seems to have a wood grain ...
23
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1answer
3k views

Leather 1.50 German gold mark

I have a German 1.50 gold mark that looks to be made of leather. It is about 3/16 of an inch thick. and dyed black. It has many symbols. Please if anyone can tell me about this. It looks to be dated ...
2
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2answers
611 views

How did Romans know if their money was debased?

In many moments of Roman imperial history coin was debased, with its silver contents being reduced over time, and in general this was linked with increasing imperial expenditures. In Harper's The Fate ...
11
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1answer
234 views

Were Cypriots able to pay their bills during the “bail in” of March 2013?

During the Cypriot financial crisis, it seems that a "bank holiday" was announced on March 16 and lasted until March 26, during which time ATM withdrawals were impossible or at least tightly ...
12
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1answer
354 views

Before modern banking, how did government-issued coins get into everyone's hands?

At first, this question sounded basic to me, but I couldn't find easy answer in Wikipedia. Since this SE prefers restricted scope, let's limit it to the empires of the 9th-10th century, e.g. the ...
2
votes
1answer
163 views

Why did Indonesia use a separate currency for West Irian before 1973?

In 1963, Indonesia took control of Western New Guinea (formerly a Dutch colony whose status was separated from the rest of Indonesia/Dutch East Indies since 1949), and renamed it West Irian. One ...
4
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2answers
452 views

How was financial profit viewed in Medieval Europe?

What was the attitude of people in Medieval Europe towards earning money, making a profit etc. I know that in some places Jews were well established as merchants because, from the point of the view of ...
6
votes
2answers
229 views

Which tools were available in 1933 for the Chinese government to intervene in the money market?

I do not have profound knowledge of the Chinese banking sector in the 1930s, but, for instance, Tamagna, Frank M. Banking and finance in China. International Secretariat, Institute of Pacific ...
2
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1answer
958 views

How could the Roman sestertii/sesterces be converted into modern terms (say 2017 US$)?

Of course, the value of the sesterti must itself have fluctuated over the centuries it was in use. And so if I must narrow it down, I am particularly interested in its value during the time of ...
11
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3answers
2k views

What was the “Brakteaten” medieval monetary system?

I am reading "Interest and inflation free money" by Margrit Kennedy. I have only found this book online (here). It is not in my local libraries or bookshops. The author states (page 39 of ...
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2answers
306 views

Who is on the Nazi 2 Reichsmark coin?

There is a long haired figure on the 1934 2 Reichsmark coin. Who is it?
2
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1answer
152 views

Were metal purities in coins well known and standardized by the 1500s?

I'm curious how pure metals (such as in coins) were by the mid 1500s in Europe. I know that in some cases metal purities are purposely less than what they could be, such as with WWII era US coins, but ...
6
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1answer
283 views

Jewish Money Lenders in England: What happened to Money Lendings after Expulsion?

When the Jews left England in 1290 by edict of Edward 1, who took over the role of Jews? My understanding is that the primary economic function was loaning money against future sales of farm produce --...
3
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1answer
149 views

Did “loan sharks” arise after debtors' prison was eliminated?

One reads about loaning money in the past and the subtext is, if you were not repaid according to the terms of a note you held, you could get the debtor arrested. Eventually, debtors' prisons and ...
4
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1answer
277 views

In modern terms (for example the 2017 US dollar), how much purchasing power is 50,000 (French) Francs in 1829?

Not simply a conversion of money, as even independent of inflation, the value of basics like bread and such change over time. I am reading "The Count of Monte Cristo" and a character has just remarked ...
8
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2answers
301 views

Did anyone in Alta California pay in cash?

In the Spanish and Mexican eras, California was an economy very cut off from its mother countries. Most trade was by bartering goods [Josiah Belden by Doyce Nunis, Jr., 1962]. Is there evidence of ...
0
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2answers
163 views

To which age this currency belong?

My freind sent me thise picture and he is asking to which age this currency belong