Florins are a much loved coin and elicit more response than any other when we mention them on these pages. What you might not know is where the term comes from and some of its history. I have used Wikipedia for much of what follows: The word Florin derives from the city of Florence (or Firenze) in Italy and frequently refers to the (Fiorino Doro) Gold coin which was struck in 1252. This money format was borrowed in other countries and the word Florin was used, for example, in relation to the Dutch Guilder (abbreviated to Fl) as well as the coin first issued in 1344 by Edward III of England – then valued at six shillings, and composed of 108 grains (6.99828 grams) of Gold with a purity of 23 carats and 31⁄2 grains (or 237⁄8 carats) – and of course more recently relating to the UK pre-decimal Silver coin (later half Silver and then Cupro-Nickel after 1946). It was also known as a two shilling (or two bob) bit (2/-) worth 24 pence or one-tenth of a pound. Recent research indicates that the Florin was once the dominant currency of Europe until accommodative policymaking led to the loss of its status as the continents de facto reserve currency. A regional variant of the Florin was the Rheingulden, minted by several German states encompassing the commercial centers of the Rhein (Rhine) River valley, under a series of monetary conventions starting in 1354, initially at a standard practically identical to the Florentine Florin (98% gold, 3.54 grams). By 1419, the weight had been slightly reduced (to 3.51 grams) and the alloy was substantially reduced (to 79% gold). By 1626, the alloy had been reduced again (to 77% gold), while the weight was more substantially reduced (to 3.24 grams). In 1409, the Rheingulden standard (at the time 91.7% Gold) was adopted for the Holy Roman Empires Reichsgulden. For a list of our current florins ringramcoins/coins/florins.html
Posted on: Wed, 03 Dec 2014 16:26:52 +0000
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