Currency Timeline
Category: Outro
Atualizado: 1 dez 2019
Autores
Created bySelina Kim
Attachments
Eventos
06/02/1497:
After Spain was united by the marriage
of Ferdinand of Aragon and Isabella
of Castille, they reformed the
monetary system to combine their two
regions together.
After the discovery of silver in the Spanish
colonies in the Americas, the Spanish
Pieces of Eight are established as a
competitor to the Joachimsthaler. The
prolific output of the Spanish mines
allow the Spanish Dollar to replace the
Joachimsthaler as the main trading currency.
It is worth 0.931 fine or 25.563 g fine silver.1566:
The Spanish Escudo, a gold coin, is introduced
to be worth 16 reales.1728:
Silver content of Spanish Dollar is decreased to 0.9167 fine.1754:
Silver content of Spanish dollar is decreased
to 0.9028 fine, but is probably only around 0.89 fine.1486:
Originally called
"Guldengroschen",
silver coins equivalent
to the gold coins
"Gulden" are first minted.
These introduces the idea
of a reliable silver coin of
high worth that can fulfill
large volumes of trade.1566:
Law of 1566 in the Holy Roman Empire fixes
the Reichsthaler at 0.875 fine.
The Reichsthaler is introduced as the Roman
Empire's version of a standard silver coin.
Smaller German states would mint the
Reichsthaler along with their own coin of
smaller denominations.
Since each state would create their own
system of subdivisions, the Reichsthaler became
established as a way to track the worth
of coins.1754:
The Reichsthaler is replaced by the Conventionsthaler.1868:
The Law of June 25, 1868 retires
the Spanish Dollar for the Spanish
Peseta.1741:
The first Maria Theresa Thaler is struck based on the Reichthaler
at around 25.98 grams of silver.
The Maria Theresa dollar is a Conventionsthaler: due to its intricate
design and lettered edge, it is more immune to counterfeits
than the Spanish Dollar.
The silver content of the Spanish Dollar have also been steadily
decreasing over the centuries. The Maria Theresa Thaler
is considered a more stable alternative to the Spanish Dollar as
an international currency.1751:
The Maria Theresa Thaler is fixed at 0.8333 fine, or 23.39 grams of silver.
Standards for the Maria Theresa Thaler are more strictly held than
previous silver coins, and the silver content of the Thaler does not change from this point.09/19/1857:
The Maria Theresa Thaler is declared
an official trade coin by Austria.
In trading partners of Austria without an
official state currency, such as Arabia and
certain African nations, the Maria Theresa
Thaler are the established currency
in the economy.10/31/1858:
The Maria Theresa Thaler is no longer used as currency in Austria.1935:
Mussolini forces Austria to hand over dies for the Marie Teresa Thaler,
ending the Austrian monopoly on MTT production: other European
countries, from Italy to France and Britain, begin to produce the MTT.1650:
The silver content of coins from the Peruvian
mint are discovered to have not met
standards of the Spanish Dollar. This is a
major scandal that harms the reputation
of the Spanish Dollar
In 1650, a declaration is issued to deny the Peruvian
coins status as currency, and they are to be
minted again in Spain.
The debased Peruvian coins, however, continue
to be widely circulated in the Americas. The
debased coins are often used for fraud.1518:
Count of Schlick mints the first
Joachimsthaler in the mining
town Joachimsthal. They are
slightly altered versions of the
Guldengroschen, containing
25.998 grams of silver or
400.99 grains of silver.
Due to their reliable silver
content, they are extremely
successful and widely used in
European trade.
International currencies after
the Joachimsthaler
inherit the name "Thaler".Períodos
1497-1868:
The Spanish Dollar, or the Real de a Ocho (Pieces of 8) is used in the Spanish Empire.
The Ordinance of Medina del Campo establishes the real as the main Spanish currency. Medina del Campo is a well known site for a popular money fair at the time.
The Law of June 25, 1868 retires the Real as an official currency.1566-1754:
The Reichthaler is established and used within the Holy Roman Empire.1741-1961:
The Maria Theresa Thaler is widely used in the Middle East and Africa as a trade currency.
Austria is a major European power at this time. The country trades at a high rate with other Mediterranean and Middle Eastern countries, and it has access to plentiful amounts of silver from Bohemia and Tyrol.
Large quantities of the Maria Theresa Thaler are thus minted and circulates to Austria's trading partners.
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