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Yet even those empires could not enforce their subjects to use only their coins. Hence why the gold/silver value was what mattered and why some coins like the f
by cblconfederate 5y ago
Yet even those empires could not enforce their subjects to use only their coins. Hence why the gold/silver value was what mattered and why some coins like the fiorin were international designs. Fiat money is what allows governments extreme control on money
- chalst 5y agoIn ancient times, most transactions did not involve money at all. That is the big difference to the modern era. Generally, the gold/silver value was really hard to determine, but minted coins could be more valuable than their believed metallic value: they had exchange value dealing with the regime. I strongly recommend David Graeber's "Debt: The first 5000 years", which is an anthropological account of the changing role of debt and money around the world over history