The Gold Florin : a coin significant in the development of international trade

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The Gold Florin : a coin significant in the development of international trade

 gold florin international trade
The creation of the gold florin dates back to 1252, a period of significant return to gold minting. However at that time, coinage was an imperial prerogative, and if the Florentines decided to create a gold coin, it was to emphasize their independence from the emperor and highlight the flourishing condition of Florence, its power, its wealth as well as to assert its supremacy over other Tuscan cities.

The gold florin of the Republic of Florence soon became the strongest currency in Europe (even of the world at that time), as it was made of fine gold, had a stable weight, a high quality and a beautiful coinage, and was the first European gold coin struck in sufficient quantities to play an important commercial role.

With the creation of their gold florin, the Florentines provided a safe currency in international trade and they did so at a strategic moment of overall development. This development was notably symbolized by a rising ‘bourgeoisie’, the expansion of industry and trade, a flourishing activity of banking and finance and the emergence of magnificent and emblematic monuments; all of this in large part because of the powerful Medici family.

The credibility and strength of the gold florin in international trade reached such a scale that soon, other Italian cities and foreign countries adopted the currency and some others tried to copy it. Indeed, imitations of the gold florin were minted in Turin, Rome, Milan, just to name a few, as well as in Germany, Austria, Poland, Czechoslovakia, Greece, Turkey, Hungary and Holland. In the latter two countries, the currency unit is still called « florin ».

2015-10-18T11:18:25+00:00 September 1st, 2015|