The florin is the currency of Aruba. It is subdivided into 100 cents; the florin was introduced in 1986. Although the Aruban florin is pegged to the United States dollar at the rate of 1.79 florin per USD, the used street value is at 1.75 florin per USD. In 1986, coins were introduced in 10, 25 and 50 cents and 1 and 2 1⁄2 florin; the 5-florin banknote was replaced by a square coin and the 2 1⁄2-florin coin was removed from circulation. The 5-florin was replaced in 2005 with a round gold-coloured coin, because the old square 5-florin coin was too easy to counterfeit. All coins are struck in nickel-bonded steel with exception of the 5-florin, an alloy of copper and other metals; the 50-cent is the only square-shaped coin remaining commonly referred to as a "yotin" by the locals. On the back of each 1-, 2 1⁄2- and 5-florin coin is a profile view of the current head of state of the Kingdom of the Netherlands. From 1986 to 2013, this was queen Beatrix and since 2014 it has been king Willem-Alexander.
Moreover, only these three denominations have writing on their edge, namely "God Zij Met Ons" meaning'God Be With Us'. The Central Bank of Aruba introduced banknotes in denominations of 5, 10, 25, 50 and 100 florin and dated January 1, 1986. In 1990, the bank issued the same denominations in a colorful new family of notes designed by Aruban artist Evelino Fingal; as director of the Archaeological Museum, Fingal found inspiration in old Indian paintings and pot shards. Fingal combined decorative motifs found on pre-Columbian pottery with pictures of animals unique to the island; the 500-florin notes were introduced in 1993, with the 5-florin note replaced by a square coin in 1995. As of 2003 a new print was started of the already existing banknotes of 10, 25, 50, 100 and 500 florin; these new banknotes were made with new safety features to counteract counterfeiting, but retained their look. Economy of Aruba Central banks and currencies of the Caribbean Banknotes of Aruba Nos Florin
The złoty, the masculine form of the Polish adjective'golden', is the currency of Poland. The modern złoty is subdivided into 100 groszy; the recognised English form of the word is zloty. The currency sign, zł, is composed of the Polish lower-case letters z and ł; as a result of inflation in the early 1990s, the currency underwent redenomination. Thus, on 1 January 1995, 10,000 old złotych became one new złoty. Since the currency has been stable, with an exchange rate fluctuating between 3 and 4 złoty for a United States dollar; the predecessors of the złoty were the kopa. The grzywna was a currency, equivalent to 210 g of silver, in the 11th century, it was in use until sometime in the 14th century. At the same time, first as a complement to the grzywna, as the main currency, came the grosz and the kopa. Poland made the grosz as an imitation of the Prague groschen. A grzywna was worth 48 groszy; the złoty is a traditional Polish currency unit dating back to the late Middle Ages. In the 14th and 15th centuries, the name was used for all kinds of foreign gold coins used in Poland, most notably Venetian and Hungarian ducats.
One złoty at the beginning of their introduction cost 12–14 groszy. In 1496 the Sejm approved the creation of a national currency, the złoty, its value was set at 30 groszy, a coin minted since 1347 and modelled on the Prague groschen, a ducat, whose value was 1 1⁄2 złoty; the 1:30 proportion stayed, but the grosz became cheaper and cheaper, because the proportion of silver in the coin alloy diminished over time. In the beginning of the 16th century, 1 złoty was worth 32 groszy; the name złoty was used for a number of different coins, including the 30-groszy coin called the polski złoty, the czerwony złoty and the złoty reński, which were in circulation at the time. However, the value of the Polish złoty dropped over time relative to these foreign coins, it became a silver coin, with the foreign ducats circulating at 5 złotych; the matters were complicated by the intricate system of coins, with denominations as low as 1⁄3 groszy and as high as 12,960 groszy fit into one coin. There were no usual decimal denominations we use today: the system used 4, 6, 8, 9 and 18 groszy, which are now most uncommon.
Moreover, there was no central mint, apart from Warsaw mint, there were the Gdańsk, Elbląg and Kurland separate mints which did not produce the same denomination coins with the same materials. For example, the szeląg had 1.3g of copper while minted in either Kraków or Warsaw, but the local Gdańsk and Elbląg mints made it using only 0.63g of copper. This facilitated forgeries and wreaked havoc in the Polish monetary system Following the monetary reform carried out by King Stanisław II Augustus which aimed to simplify the system, the złoty became Poland's official currency and the exchange rate of 1 złoty to 30 copper groszy was confirmed; the king established the system, based on the Cologne mark. Each mark was divided into 10 Conventionsthaler of the Holy Roman Empire, 1 thaler was worth 8 złotych; the system was in place until 1787. Two devaluations of the currency occurred in the years before the final partition of Poland. After the third partition of Poland, the name złoty existed only in Russian lands.
Prussia had introduced the mark instead. On 8 June 1794 the decision of the Polish Supreme Council offered to make the new banknotes as well as the coins. 13 August 1794 was the date. At the day there was more than 6.65 million złotych given out by the rebels. There were banknotes with the denomination of 5, 10, 25, 50, 100, 500 and 1,000 złotych, as well as 5 and 10 groszy, 1 and 4 złoty coins However, it did not last for long: on 8 November, Warsaw was held by Russia. Russians declared them invalid. Russian coins and banknotes replaced the Kościuszko banknotes, but the division on złote and grosze stayed; this can be explained by the fact the Polish monetary system in the deep crisis, was better than the Russian stable one, as Poland used the silver standard for coins. That is why Mikhail Speransky offered to come to silver monometalism in his work План финансов in Russia, he argued that: "... at the same time... forbid any other account in Livonia and Poland, this is the only way to unify the financial system of these provinces in the Russian system, as well they will stop, at least, the damage that pulls back our finances for so long."
The złoty remained in circulation after the Partitions of Poland and the Duchy of Warsaw issued coins denominated in grosz, złoty and talar, worth 6 złoty. Talar banknotes were issued. In 1813, while Zamość was under siege, Zam
Guilder is the English translation of the Dutch and German gulden shortened from Middle High German guldin pfenninc "gold penny". This was the term that became current in the southern and western parts of the Holy Roman Empire for the Fiorino d'oro. Hence, the name has been interchangeable with florin; the term gulden was used in the Holy Roman Empire during the 14th to 16th centuries in generic reference to gold coins. Currency became more standardized with the imperial reform of 1559. In the early modern period, the value of a gulden was expressed in standardized form, in some instances, silver coins were minted designed to have the value corresponding to one gulden; the Rhenish gulden was issued by Trier and Mainz in the 14th and 15th centuries. Basel minted its own Apfelgulden between 1429 and 1509. Bern and Solothurn followed in the 1480s, Fribourg in 1509 and Zürich in 1510, other towns in the 17th century, resulting in a fragmented system of local currencies in the early modern Switzerland.
With standardized currencies in the early modern period, gulden or guilder became a term for various early modern and modern currencies, detached from actual gold coins, in the 17th and 18th centuries. The Netherlands Indies gulden was introduced in 1602, at the start of the United East Indies Company; the Dutch guilder originated in 1680 as a 10.61 g silver coin with a silver purity of 91.0%, minted by the States of Holland and West Friesland. The British Guianan guilder was in use in British Guiana, 1796 to 1839. In 1753, Bavaria and Austria-Hungary agreed to use the same conventions; the result was the Austro-Hungarian gulden, the Bavarian gulden. A Danzig gulden was in use 1923 to 1939; the Dutch guilder remained the national currency of the Netherlands until it was replaced by the euro on 1 January 2002. The Netherlands Antillean guilder is the only guilder in use, which after the dissolution of the Netherlands Antilles remained the currency of the new countries Curaçao and Sint Maarten and the Caribbean Netherlands.
Surinamese guilder Netherlands Indies gulden Netherlands New Guinean guldenThe Caribbean guilder is a proposed currency for Curaçao and Sint Maarten. Other coin names that are derived from the gold of which they were once made: Öre, øre Złoty Hungarian forint
Penny (English coin)
The English penny a coin of 1.3 to 1.5 grams pure silver, was introduced around the year 785 by King Offa of Mercia. These coins were similar in size and weight to the continental deniers of the period and to the Anglo-Saxon sceats which had preceded it. Throughout the period of the Kingdom of England, from its beginnings in the 9th century, the penny was produced in silver. Pennies of the same nominal value, one 240th of a pound sterling, were in circulation continuously until the creation of the Kingdom of Great Britain in 1707; the name "penny" comes from the Old English pennige. Its abbreviation d. comes from the Roman denarius and was used until decimalisation in 1971. Due to their ubiquity pennies have accumulated a great number of idioms to their name recognizing them for their common-ness and their miniscule value; these might include: cut off without a penny mean enough to steal a penny off a dead man's eyes not have two pennies to rub together penny-pincher penny-wise and pound-foolish worth every penny Anglo-Saxon silver pennies were the currency used to pay the Danegeld protection money paid to the Vikings so that they would go away and not ravage the land.
As an illustration of how heavy a burden the Danegeld was, more Anglo-Saxon pennies from the decades around the first millennium have been found in Denmark than in England. In the reign of Ethelred the Unready, some 40 million pennies were paid to the Danes, while King Canute paid off his invasion army with another 20 million pennies; this adds up to about 2,800,000 troy ounces of silver, equivalent to £250,000 at the time, worth about £10 million in 2005 money. The penny weighed 20 to 22.5 modern grains. It was standardized to 1/240th of a Tower pound; the alloy was set to sterling silver of 925/1000 in 1158 under King Henry II. The weight standard was changed to the Troy pound in 1527 under Henry VIII, i.e. a pennyweight became about 1.555 grams. As the purity and weight of the coin was critical, the name of the moneyer who manufactured the coin, at which mint appeared on the reverse side of the coin. From the time of King Offa, the penny was the only denomination of coin minted in England for 500 years, until the attempted gold coinage issue of King Henry III in 1257 and a few halfpennies and farthings in 1222, the introduction of the groat by King Edward I in 1279, under whom the halfpenny and farthing were reintroduced, the issues of King Edward III.
At the time of the 1702 London Mint Assay by Sir Isaac Newton, the silver content of British coinage was defined to be one troy ounce of sterling silver for 62 pence. Therefore, the value of the monetary pound sterling was equivalent to only 3.87 troy ounces of sterling silver. This was the standard from 1601 to 1816. History of the English penny History of the English penny History of the English penny History of the English penny History of the English penny History of the British penny History of the British penny Decimal Day, 1971 Penny Coins of the pound sterling Sixpence Coincraft's Standard Catalogue English & UK Coins 1066 to Date, Richard Lobel, Coincraft. ISBN 0-9526228-8-2
The thrymsa was a gold coin minted in seventh-century Anglo-Saxon England. It originated as earlier Roman coins with a high gold content. Continued debasement between the 630s and the 650s reduced the gold content in newly minted coins such that after c. 655 the percentage of gold in a new coin was less than 35%. The thrymsa was superseded by the silver sceat; the first thrymsas were minted in England in the 630s. These earliest coins were created at mints in Canterbury and also Winchester. Charles Arnold-Baker in his Companion to British History suggests that the impetus for the creation of this coin was increased commerce following the marriage of Æthelberht of Kent and Bertha of Kent, a daughter of the Frankish king Charibert I. Thrymsas contained between 40% and 70% gold, but following continued debasement those coins minted after c. 655 contained less than 35% gold. Gold coins ceased to minted by about 675, after which the silver sceat was minted instead; the term thrymsa is used in Anglo-Saxon texts to refer to a value of four silver pennies.
Thrymsas are known to modern numismatists through their discovery in various hoards, notably the Crondall Hoard. The ship-burial at Sutton Hoo, which dates from the early seventh-century contained 37 Merovingian tremisses but no Anglo-Saxon coins; the Crondall hoard by contrast, dated to after c. 630, contained 101 gold coins, of which 69 were Anglo-Saxon and 24 were Merovingian or Frankish. Early thrymsas were imitations of earlier Roman coins, they weighed between 1 and 3 grams, had a diameter of 13 millimetres. Thrymsas feature various different designs, including busts, lyre-like objects and Roman legionary ensigns. Inscriptions are common features, sometimes appear in Latin script and sometimes in Anglo-Saxon runes. History of the English penny Coinage in Anglo-Saxon England Comparison of continental and English coins: Arnold-Baker, Charles; the Companion to British History. Taylor & Francis. ISBN 978-1-317-40039-4. Campbell, J.. "Rædwald". Oxford Dictionary of National Biography. Oxford University Press.
Doi:10.1093/ref:odnb/23265. Retrieved 14 March 2016. Subscription or UK public library membership required. Davies, Glyn. History of Money. University of Wales Press. ISBN 978-0-7083-2379-3. Grierson, Philip. Medieval European Coinage: Volume 1, The Early Middle Ages. Cambridge University Press. ISBN 978-0-521-03177-6. Page, Raymond Ian. An introduction to English runes. Methuen. Skingley, Philip, ed.. Coins of England & the United Kingdom: Standard Catalogue of British Coins 2015. Spink & Sons Ltd. ISBN 978-1-907427-43-5. Cook, Barrie J.. Coinage And History in the North Sea World, C. AD 500–1250: Essays in Honour of Marion Archibald. BRILL. ISBN 90-04-14777-2
The Florentine florin was a coin struck from 1252 to 1533 with no significant change in its design or metal content standard during that time. It had 54 grains of nominally pure or'fine' gold with a purchasing power difficult to estimate but ranging according to social grouping and perspective from 140 to 1000 modern US dollars; the name of the coin comes from the flower of the Giglio bottonato, represented at the head of the coin. The "fiorino d'oro" of the Republic of Florence was the first European gold coin struck in sufficient quantities since the seventh century to play a significant commercial role; as many Florentine banks were international supercompanies with branches across Europe, the florin became the dominant trade coin of Western Europe for large-scale transactions, replacing silver bars in multiples of the mark. In the fourteenth century, a hundred and fifty European states and local coin-issuing authorities made their own copies of the florin; the most important of these was the Hungarian forint, because the Kingdom of Hungary was a major source of European gold.
The design of the original Florentine florins was the distinctive fleur-de-lis badge of the city on one side and on the other a standing and facing figure of St. John the Baptist wearing a hair shirt. On other countries' florins, the inscriptions were changed, local heraldic devices were substituted for the fleur-de-lis. Other figures were substituted for St. John. On the Hungarian forints, St. John was re-labelled St. Ladislaus, an early Christian king and patron saint of Hungary, a battle axe substituted for the original's sceptre; the image became more regal looking. The weight of the original fiorino d'oro of Florence was chosen to equal the value of one lira in the local money of account in 1252. However, the gold content of the florin did not change while the money of account continued to inflate; the values of other countries' money continually varied against each other, reinforcing the florin's utility as a common measure of value for foreign exchange transactions. The word florin was borrowed in many other countries: for example, the Dutch guilder, as well as the coin first issued in 1344 by Edward III of England – valued at six shillings, composed of 108 grains of gold with a purity of 23 carats and 3 1⁄2 grains – and more relating to a British pre-decimal silver coin known as a two shilling "bit" worth 24 pence or one-tenth of a pound.
Recent research indicates that the florin was once the dominant currency of Europe until accommodative policymaking led to the loss of its status as the continent's de facto reserve currency. A regional variant of the florin was the Rheingulden, minted by several German states encompassing the commercial centers of the Rhein River valley, under a series of monetary conventions starting in 1354 at a standard identical to the Florentine florin. By 1419, the weight had been reduced and the alloy was reduced. By 1626, the alloy had been reduced again, while the weight was more reduced. In 1409, the Rheingulden standard was adopted for the Holy Roman Empire's Reichsgulden. Denaro Florin History of coins in Italy Lira Soldo Venetian grosso Venetian lira http://www.gmmnut.com/gmm/sca/florin.html - See Discussion Philip Grierson. Coins of Medieval Europe. Seaby, London. ISBN 1-85264-058-8. Peter Spufford. Money and its use in medieval Europe. Cambridge University Press. ISBN 0-521-37590-8. Peter Spufford. Handbook of Medieval Exchange.
Royal Historical Society, London. ISBN 0-86193-105-X; the Economy of Renaissance Florence. Richard A. Goldthwaite Money museum:Fiorino d'Oro History of the British Florin
The Gulden or forint was the currency of the lands of the House of Habsburg between 1754 and 1892, when it was replaced by the Krone/korona as part of the introduction of the gold standard. In Austria, the Gulden was divided into 60 Kreuzer, in Hungary, the forint was divided into 60 krajczár; the currency was decimalized in 1857, using the same names for the subunit. The name Gulden was used on the pre-1867 Austrian banknotes and on the German language side of the post-1867 banknotes. In southern Germany, the word Gulden was the standard word for a major currency unit; the name Florin was used on Austrian coins and forint was used on the Hungarian language side of the post-1867 banknotes and on Hungarian coins. It comes from the city of Florence, Italy where the first florins were minted, from 1252 to 1533; until 1806, Austria was the leading state of the Holy Roman Empire. With the introduction of the Conventionsthaler as the principal currency of the Empire in 1754, when it began to replace the Reichsthaler.
The Gulden was defined as half of a Conventionsthaler, it was the equivalent of 1⁄20 of a Cologne mark of silver. The Gulden was subdivided into 60 Kreuzer. Following the winding up of the Holy Roman Empire in 1806, the Gulden became the standard unit of account in the Habsburg Empire and remained so until 1892. In 1857, the Vereinsthaler was introduced across the German Confederation and Austria-Hungary, with a silver content of 16 2⁄3 grams; this was less than 1 1⁄2 times the silver content of the Gulden. Austria-Hungary adopted a new standard for the Gulden, containing two-thirds as much silver as the Vereinsthaler; this involved a debasement of the currency of 4.97%. Austria-Hungary decimalized at the same time, resulting in a new currency system of 100 Kreuzer = 1 Gulden and 1 1⁄2 Gulden = 1 Vereinsthaler. In 1892 the Austro-Hungarian Gulden was replaced by the Krone, at a rate of 2 Krone = 1 Gulden. In 1946 the Hungarian Forint is the official currency in Hungary. Copper coins were issued in denominations of 1 Heller up to 1 Kreuzer, with silver coins in denominations from 3 Kreuzer up to 1 Conventionsthaler.
The Turkish and Napoleonic Wars led to token issues in various denominations. These included a 12 Kreuzer coin which only contained 6 Kreuzer worth of silver and was overstruck to produce a 7 Kreuzer coin. In 1807, copper coins were issued in denominations of 30 Kreuzer by the Wiener Stadt Banco; these issues were tied in value to the bank's paper money. The coinage returned to its prewar state after 1814; when the Gulden was decimalized in 1857, new coins were issued in denominations of 1⁄2, 1 and 4 Kreuzer in copper, with silver coins of 5, 10 and 20 Kreuzer, 1⁄4, 1 and 2 Florin and 1 and 2 Vereinsthaler and gold coins of 4 and 8 Florin or 10 and 20 francs. Vereinsthaler issues ceased in 1867. Vereinsthaler = 1 1⁄2 Florins Following the forint's introduction, Hungary issued few coins compared to Austria, but the Kingdom of Hungary started minting its own golden coins called, depending on the language, florins/forints, Guldens, in 1329; the only copper coin was a poltura worth 1 1⁄2 krajczár, whilst there were silver 3, 5, 10, 20 and 30 krajczár and 1⁄2 and 1 Conventionsthaler.
All issues ceased in 1794 and did not resume until 1830, when silver coins of 20 krajczár and above were issued. Only in 1868, following the Austro-Hungarian Compromise of 1867, did a full issue of coins for Hungary begin. Denominations were fewer than in Austria, with copper 1⁄2, 1 and 4 krajczár, silver 10 and 20 krajczár and 1 forint and gold 4 and 8 forint. Between 1759 and 1811, the Wiener Stadt Banco issued paper money denominated in Gulden. However, the banknotes were not tied to the coinage and their values floated relative to one another. Although the notes did have a slight premium over coins early on, in years, the notes fell in value relative to the coins until their value was fixed in 1811 at one fifth of their face value in coins; that year, the Priviligirte Vereinigte Einlösungs und Tilgungs Deputation began issuing paper money valued at par with the coinage, followed by the "Austrian National Note Bank" in 1816 and the "Privileged Austrian National Bank" between 1825 and 1863.
In 1858, new notes were issued denominated in "Austrian Currency" rather than "Convention Currency". From 1866, the K. K. Staats Central Casse issued banknotes, followed from 1881 by the K. K. Reichs Central Casse which issued the last Gulden banknotes, dated 1888. Geldschein.at - Picture gallery of Austrian gulden banknotes