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This paper tells the story of how paper money evolved as a result of lending by banks. While lending commodity money requires holding large reserves of commodity money to ensure liquidity, issuing convertible paper money reduces these costs significantly. The paper also examines the possibility...
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Although the leaf-thin bracteates are the most fragile coins in monetary history, they were the main coin type for … monetary taxation policy. Medieval coins were frequently withdrawn by the coin issuer and re-minted, where people had to pay an …
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In medieval Europe, old coins were frequently declared invalid and exchanged for new ones at fixed rates and dates … what one would expect from the theory of short-lived coins. Economic backwardness, limited monetization of society and …-coinage more difficult. and bracteates were replaced by long-lived two-faced coins in 1290. With an end to re-coinage, the Swedish …
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the parameters of the wear process from a sample of coins whose age is unknown. The method performs well on the hoard data …
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be replaced by round bronze coins that were supplemented by uncoined gold and silver bullion; whereas in the Greco …-Roman world, precious-metal coins dominated from the start, initially in the form of silver coins that were increasingly … accompanied and eventually eclipsed by gold issues. The question of which factors determined the value of these coins has been …
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