Bob Klein

4 years ago · 1 min. reading time · ~100 ·

Blogging
>
Bob blog
>
The Florin: Europe's First Continental Currency | Bob Klein of Medici Capital

The Florin: Europe's First Continental Currency | Bob Klein of Medici Capital

THE FLORIN EUROPE'S FIRST CONTINENTAL CURRENCY [ELE

The Euro revolutionized commerce when it was introduced. Until the euro came around, Europe had been divided when it came to money for decades. Germany had the mark, France had the franc and Germany had the mark. Currency exchange made trade more difficult. In the 1990s, the eurozone was developed. By January of 1999, the euro was in effect. By 2002, official euros had been minted and printed.

The euro wasn't the first currency to unite the continent, though. First developed in 1252, the florin originated in Florence. It was made of gold, which was a game-changer for the time. For about 500 years before that, currency in Europe had been made from silver. The city of Florence was the leader in trade at the time. Minting their coins in gold lent even more prestige to the city.

Florins were worth more than silver coinage. They were often, however, used alongside it. Typically, silver coins were used for small transactions. Florins were used for big purchases. The florin was commonly seen throughout Italy and Europe. It was also used as far away as North Africa and the Middle East, especially for large purchases. By the 14th century, the florin was very widespread. Charles Robert, the King of Hungary and even the Holy Roman Emperor began to mint their own florins. The Holy Roman Empire referred to their coins as guilders.
The florin was dominant throughout Europe for several centuries. By about 1400, it had a competitor in the ducat, minted in Venice. By the time the 16th century rolled around, the florin was on the downswing. The last Florentine florin was minted in 1531. The florin name lived on in other currency systems for several centuries. The success of the coin was so great that it became a generic word for a midrange coin, generally made out of silver.

In 1849, a florin was introduced into the British currency system. It was an early foray into the world of decimalization. The florin was a two-shilling piece worth a tenth of a pound. The florin was also used in Australia, Ireland, Canada, and New Zealand. In the Netherlands, the generic florin (also called the gulden) lasted until the introduction of the euro in 2002. From its promising origins in Florence in the early Renaissance, the florin had a great, long run.

Originally published on BobKleinNewportNews.wordpress.com

#Florin #First Continental Currency #Florence #Europe
Comments

Articles from Bob Klein

View blog
4 years ago · 1 min. reading time

An Ancient Monetary System: The Cowry Shell Coins

For anthropologists, a stable currency is one of the hallmarks of advanced culture. In colonial Nort ...

4 years ago · 2 min. reading time

The Origin of Chinese Paper Money | Bob Klein of Medici Capital

Both the earliest forms of currency and the first instances of paper money can be attributed to Chin ...

4 years ago · 1 min. reading time

The Origin of the Pound Sterling

The pound sterling (commonly called the "pound", symbol: £) is the official currency of Great Britai ...

You may be interested in these jobs

  • Happy Monkey by Jean-Georges

    Floor Manager

    2 days ago

    Happy Monkey by Jean-Georges Greenwich, United States Full time, Part time

    FOOD + AMIGOSTwo of life's most important ingredients. Adventurous and ever changing, Happy Monkey is a fun-loving Latin restaurant from world-renowned Chef Jean-Georges Vongerichten. Happy Monkey embraces fresh, locally sourced ingredients and a distinctly Latin approach to dini ...

  • Skyline Solutions

    Renewable Energy Project Engineer

    7 hours ago

    Direct apply
    Skyline Solutions Brodhead, United States

    Are you ready to take Brodhead Technologies to the next level, face challenges, and work on tomorrow's innovations? FERCHAU is looking for experts like you: ambitious colleagues who, like us, want to push technologies to the next level. We realize exciting projects for renowned c ...

  • Sinking Spring Nursing & Rehab

    Registered Nurse

    5 hours ago

    Sinking Spring Nursing & Rehab Sinking Spring, PA, United States Full time

    Sinking Spring Nursing and Rehab Has Full-Time and Part-Time Evenings and Weekend RN Supervisor Opportunities · Competitive Wages · Benefits · *$ $46.00 / hour · *Health, Dental, Vision, Company-paid life insurance, 401K, Paid Time Off · *Variable compensation plans · *Nursing St ...