Each city state had its own currency. Gold and silver coins were the standard currency. There were bankers at each city that will exchange money for a commission. Bankers had tables in which the exchange rate was shown, so you gave your money from a city, let's say Florence, exchange it for currency in Venice. The banker will perform the calculation in front of you and give you the exchange, minus his commission. Corrupt bankers (those who cheated their customers), will have their table broken by the authorities and their money confiscated, thus, the term, bankrupt.
2007-05-28 04:10:16
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answer #1
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answered by William Q 5
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Some common ones in England are pounds, shillings and pence like today, but they also used crowns and marks.
Other ones are: livre, sou, denier, florin, gulden, noble, groat.
So long as merchants would accept it, anyone with authority could mint coins (there was no paper money then) and give them whatever name or value they wanted.
The sites below offer more information, you might also try wiki.
2007-05-28 18:11:23
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answer #2
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answered by cernunnicnos 6
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Joachimstaller was the original term that became "dollar".I dont think they used terms like Spondulics or buckos, or sawbucks etc.
2007-05-29 01:28:10
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answer #3
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answered by Ret. Sgt. 7
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http://www.historyforkids.org/learn/medieval/economy/index.htm
2007-05-28 11:33:06
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answer #4
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answered by jewle8417 5
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