Greek coins (VII-II century BC)
In ancient Greece, the fundamental foundations of the development of European civilization were laid. The…

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Coins and medals of the colonial countries (XVI-XXI centuries)
While in some countries, for example, in China or Japan, money in the form of…

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On the fate of coin stamps of the St. Petersburg Mint
Mikhail Ivanovich Smirnov, the archivist of the St. Petersburg Mint, published an interesting article in…

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The Great Migration of Nations (4th-6th centuries AD)
The prevailing idea that the hordes of barbarian peoples invaded the borders of the Roman…

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besides the members

Banknotes and paper money (VIII-XX century)

The history of paper money is just as exciting and varied as the history of metallic money. At the beginning of the history of paper money, there were two forms of banknotes – a receipt and a promissory note.
The receipt was issued as a certificate that a specific amount of metallic money is in the banker’s custody. Over time, the receipt has become possible to transfer to another person. Later, the receipt acquired the form of a banknote, which documented the client’s right to receive the amount in the form of coins indicated on the banknote at any time. Over time, the debt receipt turned into public money, which, as a rule, could not be received in the form of coins, but which had to be accepted for payment by all public funds. In addition, there are still temporary paper money issued to compensate for the shortage of coins. Continue reading

Oriental coins (VII-XXI century)

The conquerors of the territories that previously belonged to Byzantium were not familiar with the coinage before the reign of Muhammad, and therefore the history of the Arab coinage begins with imitation of coins of the Byzantine and Sassanian type. In part, these imitations were a rather loose interpretation of the original. Along with them, images of the ruling caliphs were minted on Arab coins.
Around 696-698, Caliph Abdul-Malik ibn Mervan from the Umayyad dynasty (685-705) carried out a reform of the eastern monetary system. Continue reading