With the rise of these banks the profits from sweating, adulterating and otherwise diminshing the coinage fell. And, equally or more important, with the rise of national states coins became fewer and better minted ( Read more... )

Metal was an inconvenient thing to accept, weigh, divide, assess as to quality in powder or chunks, although more convenient in this regard than cattle. Accordingly, from the earliest known times and more likely somewhat before, metal was made into coins of predetermined weight. This innovation is attributed by Herodotus to the kings of Lydia, ( Read more... )