Soldo
The soldo in the Carolingian system
The soldo is one of the three fundamental units of the Carolingian monetary system, together with the pound and the denier. In this system, one pound was divided into 20 soldi, and each soldo into 12 deniers, for a total of 240 deniers per pound.
The soldo therefore occupied an intermediate position: it was not the currency of everyday use, a role played by the denier, but it constituted an essential reference in medieval calculations and accounting systems.
Fundamental relationships
| Unit | Ratio |
|---|---|
| Pound | 1 |
| Soldo | 1/20 lb |
| denier | 1/240 lb |
Origin of the name
The term soldo derives from the Latin solidus, the gold coin introduced in the Roman Empire. However, the medieval soldo does not coincide with the solidus: while the latter was a real gold coin, the soldo of the Carolingian system was predominantly a unit of account.
This transformation reflects the transition from a monetary system based on coins of high intrinsic value to a more complex structure, in which value was also defined by theoretical relationships between the different units.
Unit of account and real money
In the Carolingian period the soldo was rarely minted as an actual coin. In most cases, it remained a theoretical reference used to express values and prices, while the real circulation was entrusted to the denier.
In later times, however, the soldo also became a concrete currency in various European areas, taking on variable characteristics in terms of weight and metal.
European evolution
The soldo had a long evolution in the various European monetary traditions. In the Anglo-Saxon area, it corresponds to the shilling, which was part of the pound sterling system.
Prior to decimalisation in 1971, the pound sterling was divided into 20 shillings and 240 pence, a structure that directly borrows from the Carolingian pound-based model, soldo and denier.
This demonstrates the extraordinary historical continuity of the system, which has been maintained since the Middle Ages, with various transformations, up to the contemporary age.
Related pages
Essential data
| Type | Unit of account |
|---|---|
| Ratio | 1/20 lb |
| Subdivision | 12 deniers |
| Origin | From the Roman solidus |
| Equivalent | Shilling (shilling) |