Medieval Sourcebook:
The Value of Foreign Coin in England, 1266
The variety of coins finding their way into the exchequer was symptomatic of the
development of English trade in the thirteenth century. Something of the art of the
money-changer can be comprehended by a study of the relative values of the coins passing
through his hands.
Kinds of silver, namely: of Montpellier which is so good that an examined pound failed
of full measure by one penny or two at most. The same for the silver of Eregha [?]. The
silver of Fugacio (?) from which place the pound failed by four pence at most. The silver
of Vrucela ( ?) and of Flanders whence the pound failed by four pence. Silver of Verona;
the pound usually lacked twelve pence. The silver of Valencia failed by eight pence;
silver of Pampeluna, the pound lacked two pence. And all these things have been decided on
the scales.
Concerning the denarii of Venice: a pound was under weight only by one penny. The same
for the money of Genoa. Likewise those of Montpellier of Spain. The legal money of
Cologne: a pound lacked six pence. The false money of Cologne: whence a pound failed by
three shillings. The Brussels pound is commonly short three shillings. The Marseilles
pound lacks six pence. But in these things the money-changer is watchful so that he may
buy a pound of whatever silver he pleases according to what returns a better profit to
himself rather than to what will redound to the profit of the king, wherefore the latter
receives a fixed payment of ten pounds. Wherefore, whether the money-changer is
industrious or not the profit and not the loss will be the king's. But the king will not
suffer from lack of diligence. Moreover, from silver vessels the money-changer receives
thirteen pence for each pound; and similarly from gold vessels. And if these vessels are
intact and exposed for sale, what can be sold for profit over and above the weight ought
to be sold. And likewise concerning the profit on gold vessels when a gold cup is
sometimes worth more than its weight by twenty shillings, or one mark, or ten shillings.
Source.
From: Hubert Hall, ed., The Red Book of the Exchequer, (London: HMSO, 1896), p.
979, reprinted in Roy C. Cave & Herbert H. Coulson, A Source Book for Medieval
Economic History, (Milwaukee: The Bruce Publishing Co., 1936; reprint ed., New York:
Biblo & Tannen, 1965), pp. 146-147.
Scanned by Jerome S. Arkenberg, Cal. State Fullerton. The text has been modernized by
Prof. Arkenberg.
This text is part of the Internet
Medieval Source Book. The Sourcebook is a collection of public domain and
copy-permitted texts related to medieval and Byzantine history.
Unless otherwise indicated the specific electronic form of the document is copyright.
Permission is granted for electronic copying, distribution in print form for educational
purposes and personal use. If you do reduplicate the document, indicate the source. No
permission is granted for commercial use.
© Paul Halsall, September 1998
[email protected]
The Internet History Sourcebooks Project is located at the History Department of Fordham University, New York. The Internet
Medieval Sourcebook, and other medieval components of the project, are located at
the Fordham University Center
for Medieval Studies.The IHSP recognizes the contribution of Fordham University, the
Fordham University History Department, and the Fordham Center for Medieval Studies in
providing web space and server support for the project. The IHSP is a project independent of Fordham University. Although the IHSP seeks to follow all applicable copyright law, Fordham University is not
the institutional owner, and is not liable as the result of any legal action.
© Site Concept and Design: Paul Halsall created 26 Jan 1996: latest revision 12 April 2024 [CV]
|
