Posts Tagged ‘Numismatics’

Saints and sinners: coins in medieval Italian graves

By Lucia Travaini

Numismatic Chronicle, Vol. 164 (2004)

Introduction: When discussing coin finds in Italian graves it is best to study the phenomenon across the entire medieval period, from the sixth to the fifteenth century. Only by comparing poorly documented periods with those for which the written evidence is more plentiful is it possible to appreciate continuities and disjunctures over time. It is also helpful to consider coins in graves in the wider context of the ritual use of coins. Few coins are found in ancient and early medieval graves compared to other artefacts. In the later middle ages, when graves did not normally contain gravegoods, an occasional coin is the only object that may have caused that grave to be recorded.

This paper will discuss grave finds of coins from different periods, but will make no attempt to give a full inventory of coins found in graves in medieval Italy. It will simply examine a number of cases and offer some tentative interpretations and also refer to non-Italian examples. Coins in graves are considered as “normal” by most archaeologists and numismatists, both for the middle ages and later periods. Folk-stories tell us about “dead man’s treasures” and these are indeed found ecclesiastical and social historians have not yet taken these matters sufficiently into account.

There is also the question of the relationship between coins in graves and Christianity . From the beginning of the period under examination Christianity, albeit in a form perhaps best described as “immature”, was already established in Italy, so what links can be made between religious belief and a coin in a grave? Coins in medieval graves have often been explained as a more or less conscious continuation of “Charon’s obol”: the traditional fee for the ferryman Charon who carried the souls of the dead across the river Styx. Even in Greek and Roman contexts, however, the term has been too loosely applied. It is only when one coin is found in the mouth that we are entitled to refer to it as a Charon’s obol. It is therefore best to abandon this idea and consider coins in medieval graves within a wider framework. Coins in graves have been interpreted as offerings of the dead to the gods, offerings of the living to the dead, as a gift to the deceased to use in the afterlife, as symbolic dowries constituting “a pars pro toto which transferred the belongings of the dead to the bereaved without having to offer a large number of graves gifts” and also as a means to avoid haunting.

Most of the literature on the topic deals with early medieval graves, due to the greater interest of archaeologists in the documentary value of grave-goods, as against the virtual lack of grave-goods in later periods. Later medieval graves need more attention. The study of the late Italian middle ages is either blessed or cursed, depending on one’s view, by the quantity of written records. Because of the wealth of documentary evidence, historians of the period have tended to neglect non-literary evidence and the often different story it has to tell. Coins in saints’ graves, for example, are by no means rare but they have hardly been noticed by modern church historians5. Later medieval graves have sometimes only been recorded because one or two coins were found with the remains. This superficiality precludes statistical analyses. Although it was often not even noted whether the body was that of a man or a woman, the issue of gender may be important. In early medieval graves coins are more often associated with women and children, and this has also been noted in antiquity in some areas.Does the presence of these coins show women as more superstitious than men? Did they invoke magic more? This is certainly suggested by St John Chrysostom’s specific condemnation of women’s use of magic in the fourth century.

There are five main questions that need to be addressed in connection with coins in medieval Italian graves:

1. Why were coins deposited with ordinary people?

2. Why were coins deposited with saints and with other important people?

3. Why were coins not deposited in many or most graves?

4. Was there a difference between early medieval and later medieval graves? If so, why?

5. How were the coins deposited in graves selected? Were they currently circulating coins or not? If not how far removed in time and place?

In discussing these questions, I will focus on two main hypotheses:

1) coins offered as tokens of memory;

2) coins as a sin or as a possible danger for the soul.

Click here to read/download this article (PDF file)

Coins and trade in early medieval Italy

By Alessia Rovelli

Early Medieval Europe, Vol.17:1 (2009)

Abstract: This paper is an analysis of monetary circulation in early medieval Italy in the period c.600–900. Using a dual comparison – first, of the level of currency use as against ceramics within Italy, and second, of the pattern of Italian coin use, and economic activity more generally, with that north of the Alps – this paper presents examples that shed light on patterns of change and discontinuity.

Introduction: In 1975 M.I. Finley observed: ‘the function of coins as distinct from their rarity or their aesthetics, has become an increasingly prominent subject of research, and the results have been considerable [ . . . ] only from the coin finds can significant conclusions be drawn about the volume of minting, for example, or the circulation of coin’. But he also added: ‘interpretation of the archaeological evidence is the point at which the dialogue between historians, numismatists and archaeologists is still unsatisfactory’. Over the years that have followed, the significant increase in numismatic evidence and a focusing on evermore sophisticated interpretative methods have further highlighted the potential of coin finds as historical documents. On the other hand, every type of historical source, including coinage, inevitably has a limit to its representativeness.

I would like to highlight this issue by addressing both archaeologists and historians, inviting the former to report on coin finds promptly, for these – even today – are still rarely mentioned in the so-called preliminary reports that often remain the only accessible documentation; and calling on the latter to overcome their lack of confidence in dealing with non-written sources. In fact, the incongruencies that may be seen in the finds on any given archaeological site are today more easily identifiable as such. With regard to coins, the inherent risks in presuming that the finds of a single site unequivocally reflect the number of monetary transactions, or the volume of currency in circulation in the region, at any one time, are well known. A wide variety of events can, in fact, have a significant influence on any individual set of data.

Moreover, when the sample is sufficiently large to enable the identification of anomalous data, for example when we are dealing with all the sites of a region, numismatic finds (both single finds and hoards) can be considered to be a good indicator of the heterogeneous factors that are difficult to assess singly in ancient economies. These factors – such as the function and use of coinage, or the volume of coin and the speed of circulation – Mark Blackburn has brought together under the deliberately generic and comprehensive term ‘monetary activity’.

Click here to read/download this article (PDF file)

Coinage and Monetary Policies in Burgundian Flanders during the late-medieval ‘Bullion Famines’, 1384 – 1482

By John Munro

Published Online (2009)

Abstract: This paper seeks to answer two questions: were the coinage debasements in Burgundian Flanders (1384-1482) undertaken principally as monetary or fiscal policies; and were they beneficial or harmful? In a recent monograph, Sargent and Velde contend that monetary objectives governed almost all medieval, early-modern debasements, especially to remedy the chronic shortages of petty coins.

Despite overwhelming evidence that Burgundian Flanders, along with most of north-west Europe in the later 14th and 15th centuries, experienced severe monetary scarcities and liquidity crises, especially in the periods ca. 1390 – ca. 1415 and ca. 1440 – ca. 1470, both periods of severe deflations, eras commonly known as ‘bullion famines’, there is no compelling evidence that the Burgundian rulers debased their coinages on the basis of any such monetary policies.

My thesis is that the Burgundian rulers of Flanders, in competition with neighboring princes, undertook their debasements primarily as aggressive fiscal policies, specifically to finance warfare. Their goal was to increase their seigniorage revenues, the tax imposed on bullion brought to their mints, by two means: by increasing the tax rate itself, and by enticing an increased influx of bullion into their mints, both by the debasement techniques themselves and by auxiliary bullionist policies.

Those policies were successful so long as three conditions were met: (1) that merchants supplying bullion received more coins of the same face value and thus with a greater aggregate money-of-account value than before (or than from other mints); (2) that the public accepted such debased coins at the same face value, by tale; and (3) that the merchants spent their increased supply of coins quickly, before any ensuing inflation eroded those gains.

This study further demonstrates that the inflationary consequences of debasements were always less than those predicted by mathematical formulae – possibly because those debasements failed to counteract the prevailing forces of monetary contraction and deflation. Because so many princes pursued similar fiscal policies, many others engaged in debasement for purely defensive reasons: to protect their mints from foreign competition and to protect their domestic money supplies from influxes of debased and also counterfeit imitations: i.e., to counteract Gresham’s Law.

If many debasements were retaliatory measures against a neighbour’s bullionist policies, those policies in general, and not just debasements, were also products of late-medieval warfare, which was also the primary culprit responsible for periodic monetary contractions: by impeding coinage circulations and bullion flows, and by provoking increased hoarding. The answer to the final question is that debasements were usually far more harmful than beneficial.

Click here to read/download this article (PDF file)

Digitizing Numismatics: Getting the Fitzwilliam Museum’s Coins to the World-Wide Web

Jarrett, Jonathan

The Heroic Age, Issue 12 (May 2009)

Abstract

Medieval studies is always greedy for more evidence, yet numismatics, which can be seen to sit uncomfortably between archaeology, art history and amateur collecting, is rarely given the importance it deserves. This article explains what it is that those who pay no attention to medieval coins may be missing, and sets this in the context of the theme of the series by explaining the writer’s present employment at the Fitzwilliam Museum with an introduction to its collections of coins and the process of making them available to all on the world-wide web.

Scholars of the early Middle Ages must be grateful for any evidence that comes to hand, and so it will hardly be necessary to explain to the readers of The Heroic Age that coins, when they can be found, are a useful source. All the same, the use of coins as historical evidence is less self-evident than it might appear, and requires some caution in its interpretation (Grierson 1975, relied on throughout; also for medievalists Grierson 1976, Coupland 2005, 211–2). This article aims to make clear the potential and problems of numismatic evidence to the reader, before explaining some of the work on which the writer is currently engaged to increase the availability of such evidence to the enquirer on the world-wide web.

 

Click here to read/download this article (HTML file)

Appropriation of Pagan Roman Motifs in Christian Byzantine Coinage

Lecture by Kelly Hughes, given at the University of Richmond

February 2, 2009

Art history and classical civilization double major Kelly Hughes, ‘09, lectures from her senior thesis. Hughes is collections assistant for University of Richmond Museums and curated the exhibit “Victories, Orbs, & Angels: Byzantine Coins from the Collection,” on display at the Lora Robins Gallery of Design.

Roman and medieval coins found in Scotland, 1988-95

Bateson, J D & N M McQ Holmest

Proceedings of the Society of Antiquaries of Scotland, 127 (1997), 527-561

ABSTRACT

A survey of over 300 sites in Scotland describes Roman and later coin finds since 1988.

Click here to download/read this article (PDF)

Coins, Money of Account and Price Movements: The Lower Rhine Region in a European Context: 1350-1800

By Rainer Metz

Historical Social Research / Historische Sozialforschung(HSR), Vol. 16:1 (1991)

Introduction: The focus of this study is the reconstruction and quantitative representation of the money of account systems of the Lower Rhine area and their change in value over the longest period of time possible. The special orientation towards the history of prices and wages requires the statistical reconstruction of gold and silver weight equivalents of the coins of account in consistent time series. The presentation of these fine weight equivalents is not only meant to provide the basic data for converting nominal price figures into grammes of precious metal, but it is also meant to create an empirical data base for the analysis of long-term trends in money of account values in the Lower Rhine area.

Click here to read/download this article (PDF file)

Byzantine Coins from the 6th and the 7th Century Found in Poland and their East-Central European Context

By Maciej Salamon and M. Woloszyn

XIV International Economic History Congress (2006)

Introduction: In this paper we discuss coins from the 6th and 7th centuries, passing over the Pomeranian finds from the beginning of the 6th century. A small series of coins (up to 20 items; up to 14 locations) comes from the period that we are interested in. The coinage of Justinian I is clearly dominant (up to 13 items), coins of later rulers constitute issues of Justin II (2 items), Maurikios (1 item) and Heraclius (3 items); chronology of one coin has not been determined.

Click here to read/download this article (PDF file)

Relation between the Late Roman World and Barbarian Europe in the Light of the Coin Finds

By Aleksander Bursche

XIV International Economic History Congress (2006)

Introduction: The area considered in the present contribution is East Central and Northern (Scandinavia) Europe, settled by peoples referred to in the written sources as superiores barbari. As such we leave out from the discussion the zone directly bordering on the Roman Empire settled by proximi ripae. Roman contacts with these two zones of the barbarian world were essentially different. This is reflected both by historical accounts and by the differences in archaeological evidence, including coin finds.

Mass influx of coinage to the area of interest started relatively late, ie, during the second half of AD 2nd century, more exactly, during the Marcomman Wars. This dating is indicated by oldest hoards, which barring a few exceptions, are closed – at the earliest – by issues from the times of Marcus Aurelius, and by archaeological context of coin finds in graves or bog deposits, where they may be dated in principle, at the earliest, to the second half or even last quarter of AD 2nd century. And so, during a period of well developed exchange between the Roman Empire and the Barbaricum, coinciding with the Golden Age and the House of Antonine, Roman coins started to flow more intensively in the reign of the last two Antonine emperors.

Roman coins reached the Barbaricum in larger number, with some interruption and widely fluctuating intensity, until the period of the late Constantine emperors and subsequently, in a very limited quantity, except for the episode of the second half of the 5th and early 6th century when a large number of solidi made their appearance in the Baltic Basin.

Throughout this entire period the influx of coinage was far from uniform, both as regards the types of issues, chronology and geographic range. Influx of a specific category of coins to a given areas during a specific period may be interpreted as resulting from different forms of Roman-Barbarian interchange. These are outlined below inchronological order under headings of denominations most frequently encountered in Barbaricum during a given period.

Click here to read/download this article (PDF file)

The Egyptian Specie Market and the Gold Crisis of the Fifteenth Century

By Ian Blanchard

Lecture presented at the École des Hautes Études en Sciences Sociales (Paris, 1985)

Introduction: The years 1375-1434 witnessed an acute dislocation of European gold markets which assumed crisis proportions during the period 1392-1412. After half a century of remarkable stability in the price of gold from 1325-1375, during which market disorders were both ephemeral and localised, mint masters were confronted with a situation of acute instability which ushered in an era of endemic enhancement in the price of the precious metal. For more than half a century, gold prices continually increased. In order to maintain a supply of coins commensurate with the requirements of a stable commodity price level and sufficient to avoid the evils of a protracted deflation mint masters and legislators were forced to either raise mint prices, or, to impose restrictions on the trade in bullion. Thereby they attempted to maintain the level of national specie stocks in a dwindling European total. Nor, as Professor Day has shown, were they entirely unsuccessful. By using these methods the supply of coin diminished much less rapidly than the supply of specie and proved sufficient to ensure stable commodity prices throughout the fifteenth century. Their frenzied activities, as they assumed the role of market equilibriators, however, were symptomatic of a fundamental supply crisis as European gold stocks rapidly diminished.

Click here to read/download this article (PDF file)