Brought to you by Pietro Anoe - Coins expert
Did you know that there was unified currency in Europe before the euro? Or that pirate treasure really exists? Or that you can buy these coins and more from around the world at Catawiki’s weekly online Coins auctions? One of our coin experts, Pietro Anoe, has shared 3 fun facts about coins. If you consider yourself a true numismatist, keep reading to test your knowledge and see how many facts you already knew.
1. There was Unified Currency in Europe Before the Euro
Before the euro was introduced, many European countries had already decided to unify their currency. Founded in 1865, the Latin Monetary Union formed an agreement between France, Belgium, Switzerland and Italy. They agreed to unify their coins and accept them freely in all their territories. Because of this, you could see easily French francs in Italy or Belgian francs in Spain. A 20 gold francs coin was the same as a 20 pesetas coin; both were 6.45 grams of 900/1000 gold. Every unit in silver weighed 5 grammes, so 5 pesetas, francs or drachmae all weighed 25 grammes. The union dissolved in 1927, but the unified currency they created can still be found at Catawiki.
2. The Florin and the Ducat Ruled the Market
In 1252, the Florence Republic decided to strike a coin of absolutely pure gold. Some years later Venice did the same and coined the famous 'ducato'. Both the florin and ducat were made of pure gold and weighed 3.5 grammes. With those gold coins both of great republics controlled the commerce in their respective areas of influence. Florence traded mostly with central Europe, while Venice with the East. The success of florins was so widespread that many imitations began to emerge. The merchants in rich German and Dutch cities tended to accept only florins, and the local governments saw business opportunities. Many cities began to issue their own florins, also called guilders or gulden. They were so popular in fact, that the Netherlands continued using guilders until the introduction of the euro in 2001.
3. The Appearance of Women on Coins Played an Important Role in History
With the Roman State changing towards a quasi-monarchical government, women began to appear on coins. In that period the coins were a powerful propaganda instrument, and traditionally they were used to commemorate some important achievement or prestige made by the roman aristocratic families which controlled the issuing of the coins. The obverse of the coin was generally reserved to the reigning Emperor, the Augustus, while the reverse was dedicated to some deity. Since the beginning of the Empire sometimes the obverse was devoted to the wife or the daughter of the Emperor. The apparition of female busts on coins was also a propagandistic move. In absence of a law of succession to the throne (the Roman Empire was officially a Republic until Diocletian) the presence of a pure and honest woman dedicated to producing descendants was a way to strengthen the concept of the dynasty. This is indeed one of the first moment in history when a strong power was identified with the portrait of a woman.
4. Sunken Treasured Really Do Exist!
Many galleons navigated the seas from Lima to Spain and were targeted by English or French pirates. Sometimes the immense riches of Spain were lost or stolen as a result. The eight reales minted in America and the gold escudos from this time are indeed the pirate doubloons. The word ‘doubloons’ specifically refers to the 2 escudos gold coins but became a term for all gold coins struck in Spanish American territories. The eight reales silver coin was called the ‘thaler’ in Europe. Over time it became the daaler and finally the dollar. Every week our Spanish Coins auctions features doubloons and dollars, some possibly coming from the depths of a stormy sea.
5. Coin Collecting is a Good Investment
While some treasures were sunk, many others rest in safes or banks. Precious metals are durable, so historical or rare gold coins are an excellent investment. Buying a rare Venetian ducat from the middle ages or a gold Spanish doubloon would be a great way to start a collection, invest in the future and increase your knowledge and culture.
At Catawiki you will find a large selection of collectable coins including those discussed in this article. Every month more than 4000 coins are sold on our platform making Catawiki’s weekly Coins auctions the place to find unique additions to your collection. To get started, register for a free account here.