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  • Fall of The Western Roman Empire Hacksilver Venetian Early Middle Ages Paper Bills Banker Byzantine Empire Balkan Kievan Rus

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    Pamela Tubig
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    After the fall of the Western Roman Empire, coins, silver jewelry, and hacked silver objects were used as money in Western Europe for centuries until Venetian merchants started using silver bars for large transactions in the early Middle Ages. Venetian merchants also introduced paper bills and marked silver bars that were used in places where they had established trade, while the Byzantine Empire and states in the Balkans and Kievan Rus also used marked silver bars for large payments. As global trade developed and silver increased with South American colonization, standard coins like the Spanish 8 reales and Venetian ducat in gold emerged for international use from the 15th century onward.

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    In Western Europe

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    After the fall of the Western Roman Empire, coins, silver jewelry, and hacked silver objects were used as money in Western Europe for centuries until Venetian merchants started using silver bars for large transactions in the early Middle Ages. Venetian merchants also introduced paper bills and marked silver bars that were used in places where they had established trade, while the Byzantine Empire and states in the Balkans and Kievan Rus also used marked silver bars for large payments. As global trade developed and silver increased with South American colonization, standard coins like the Spanish 8 reales and Venetian ducat in gold emerged for international use from the 15th century onward.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    7 views1 page

    Fall of The Western Roman Empire Hacksilver Venetian Early Middle Ages Paper Bills Banker Byzantine Empire Balkan Kievan Rus

    Uploaded by

    Pamela Tubig
    After the fall of the Western Roman Empire, coins, silver jewelry, and hacked silver objects were used as money in Western Europe for centuries until Venetian merchants started using silver bars for large transactions in the early Middle Ages. Venetian merchants also introduced paper bills and marked silver bars that were used in places where they had established trade, while the Byzantine Empire and states in the Balkans and Kievan Rus also used marked silver bars for large payments. As global trade developed and silver increased with South American colonization, standard coins like the Spanish 8 reales and Venetian ducat in gold emerged for international use from the 15th century onward.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    In Western Europe, after the fall of the Western Roman Empire, coins, silver jewelry

    and hacksilver (silver objects hacked into pieces) were for centuries the only form of money,
    until Venetian merchants started using silver bars for large transactions in the early Middle Ages. In
    a separate development, Venetian merchants started using paper bills, instructing their banker to
    make payments. Similar marked silver bars were in use in lands where the Venetian merchants had
    established representative offices. The Byzantine Empire and several states in the Balkan area
    and Kievan Rus also used marked silver bars for large payments. As the world economy developed
    and silver supplies increased, in particular after the colonization of South America, coins became
    larger and a standard coin for international payment developed from the 15th century: the Spanish
    and Spanish colonial coin of 8 reales. Its counterpart in gold was the Venetian ducat.

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