Monetary systems
Historical structure of monetary systems
A monetary system defines the relationships between units of account, metals, weights and values. In the ancient world, weight was often the basic reference. In the Middle Ages, accounting in pounds, shillings and deniers predominated; in the early modern period, territorial systems developed, followed by national currencies.
Main systems
The continuity between these systems shows that coins are more than objects to catalogue: they are also instruments of economic and political organisation. The Carolingian structure helps explain the historical relationship between the lira, franc and pound sterling, while the Germanic tradition brings together the mark and the large silver coins of Central Europe.
| System | Main units | Main coins |
|---|---|---|
| Roman | as, denarius, aureus, solidus | Roman coins |
| Carolingian | Pound, soldo, denier | Lira, franc, pound sterling |
| Germanic | mark, pfennig, thaler | mark, thaler |
| Iberian | real, escudo, peso | real, peso |
| Modern European | Euros, cents | Euro coins |