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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22
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3answers
5k 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, ...
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 ...
52
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7answers
4k views

Has a state ever “attacked” another one by printing fake money?

Has any state ever performed an "economic attack" against another state, by printing fake money of the victim's currency? Or, is it known if someone ever considered doing it, and which were the ...
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 ...
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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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 ...
8
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3answers
544 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 ...
6
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1answer
1k views

Was Smedley Butler right when he said 21,000 million/billionaires were created from World War I?

In his book entitled "War is a Racket" Smedley Butler argues that the profit of war is counted in bodies and money spent. He also wrote that 21,000 millionaires/billionaires were made from World War I....
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 ...
5
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1answer
743 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 ...
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 ...
2
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0answers
315 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 ...
3
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1answer
139 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 ...
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
246 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. ...
9
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0answers
363 views

Does Patonce Cross symbol have any record of use in Hungary?

Hungary introduced new 10000 HUF notes that contain a symbol I couldn't relate to Hungary's history. There were no official notes known to me why they use Patonce Cross on Hungarian notes. And here ...
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 ...
-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 ...
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
527 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 ...
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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 ...
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, ...
11
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1answer
236 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 ...
11
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1answer
724 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 ...
6
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2answers
2k views

How important was currency inflation in Fall of Roman Empire?

Under Roman Republic one unskilled worker typically made one sestertius a day, and it was enough to keep up a modest life in ancient Rome back in the day. But I found data about Rome started to ...
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 ...
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?
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 ...
5
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1answer
280 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 ...
-3
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2answers
307 views

Who is on the Nazi 2 Reichsmark coin?

There is a long haired figure on the 1934 2 Reichsmark coin. Who is it?
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?
11
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1answer
1k views

What coin is this? Arabic: 10 Fulus, over crossed wheat and lead

Years ago (maybe 15), my grandfather gave me this coin and I have no idea what it is or where it came from. Can anyone help? I'm pretty sure it came from the Middle East (he did a lot of work there ...
10
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3answers
1k views

Until 1600, was it legal to counterfeit money?

Forging money or currency is more often called counterfeiting and, as is well known, the counterfeiting of money is usually attacked aggressively by today's governments. But, generally speaking, was ...
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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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?
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.
29
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3answers
16k views

How much did it cost to attend events at the ancient Roman colosseum?

I recently visited the Colosseum in Rome, where a tour guide explained about the different seating sections for the elite (senators and the like), nobles, ordinary citizens, and slaves/women. He also ...
5
votes
1answer
356 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 ...
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 ...
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 ...
11
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4answers
1k views

What happened to the wealth of the Roman Catholic Church accumulated over the ages?

At one point in history, the Roman Catholic Church was the largest land owner in Europe. Given the power of compounding, the length of time for the compounding to take effect plus the huge principal ...
4
votes
2answers
453 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 ...