Carolingian monetary system
The monetary reform of medieval Europe
Charlemagne's reform organized Western European coinage around three basic units: pound, soldo and denier. The currency actually minted was mainly the silver denier, while the pound and soldo remained units of account for a long time.
The pound–soldo–denier structure was adopted throughout much of medieval Europe. In England this organization gave rise to the pound sterling system, based on the division of the pound into 20 shillings and 240 pence.
Fundamental relationships
| Unit | Ratio | Function |
|---|---|---|
| Pound | 1 | Unit of weight and account |
| Soldo | 1/20 lb | Intermediate unit of account |
| denier | 1/240 lb | Basic silver coin |
Derived currencies
Bridge between Rome and the Middle Ages
From a historical point of view, the Carolingian system connects the tradition of imperial and Byzantine coinage with the great monetary families of medieval Europe. The lira develops in the Italian area; in the French area the path that will lead to franc is consolidated; in the British area the pound sterling establishes itself.