Paper money that was created a thousand years ago presented an entirely different image to the spectators than the colorful banknotes or digital payment we’re familiar with today. People used gold, silver, and copper money for the most part around the 11th century. The design, dimensions and denomination of coins varied considerably according to the region. Across continents, trade was expanding and coins facilitated commerce, the interaction of merchants, the kingdoms and empires. A number of societies also used shells or goods, precious metals or even shells as currency. Studying old money can be intriguing and provide insight into the way older economies operated before the advent of modern banking.
Silver Ruled
Silver coins were one of the most common liabilities of money. Silver was not only valued but was also available in greater supply than silver and so was used by many kingdoms.
Gold for Wealth
Gold would often be used for large purchases, taxes and international trade. They were valuable and represented wealth and status.
Hand-Struck Coins
Coins were manufactured by putting the metal blanks between the dies that have been engraved and then hammering them. This was a process that ensured each coin was a little different.
Islamic Dinars
In the Islamic world the gold dinar and silver dirham were in use. The uniform quality enabled merchants to place their trust in them in long-distance trade.
Chinese Currency
Copper square-hole cash coins were widely used in China. Such clusters of coins might be strung together and handled in one go for bigger monetary transactions.
Royal Portraits
Numerous rulers added their signature, symbols, or likenesses to coins. This was to remind the populace of the political power and to thwart counterfeiting.
No Paper Notes
Outside of China, paper money was not available. Most people possessed physical coins made from metal which were regularly used in daily life.
Trade Routes Matter
Well-known trade routes enabled coins to be distributed from their place of manufacture. Foreign money might show up in the surroundings of a trader coming from foreign countries.
Different Values
The values, relevant to the coin, were based on the price of the metal and its weight. Coins would also be weighed and balanced to make sure that they had the right amount of precious metal in them.
Local Variations
Each kingdom had its own currency. There was a large demand to change coins from one type to another amongst travellers and traders.
Money as Treasure
Coins were not just for transacting money. Many of these were kept as savings and others were sewn into clothing or hidden in containers, thus becoming lost treasures that archaeologists are uncovering today.
