different currencies
Ancient coins
1. Old coins of Russia – gold and silver coins of Prince Vladimir
These were the first coins minted in Kievan Rus at the end of the 10th century, then at the beginning of the 11th century, they were issued in small quantities and not for long, so they didn’t have much influence on monetary circulation but represent a peculiar group of cultural monuments of Ancient Russia.
Under Prince Vladimir Svyatoslavovich in 988, Christianity became the official religion in Russia. In the cities, the oldest of which were Kiev, Novgorod, Ladoga, Smolensk, Moore, crafts and trade with the southern and western Slavs, the peoples of other countries were actively developed. Continue reading
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
