Illustrations
2.1. Mint equivalent of small coinage in various countries, 1200–1800.
16
2.2. Portrait of Sir William Camden, by Marcus Gheeraerts.
17
2.3. Price levels in units of account, various countries, 1660–2000.
35
4.1. A penny of Charlemagne.
46
4.2. A late medieval mint, by Leonard Beck.
49
4.3. An 18th c. screw press.
56
4.4. Silver token depicting the medieval and the Renaissance technology.
57
4.5. Cylinder used in the Segovia mint in 1620 to produce pattern coins.
59
4.6. A late 19th c. steam press.
62
4.7. Private redeemable token issued in Paris in 1792.
63
4.8. French copper coin and imitations by neighboring countries, 17th c.
67
6.1. Portrait of Girolamo Butigella.
109
9.1. Mint equivalents and prices of Florentine coins, 1252–1531.
141
9.2. Minting intervals, price level, and price of gold coin in Florence, 1325–81.
143
9.3. Gold coins and gold-based units of account in Florence, 1390– 1535.
147
9.4. Price indices for Florence, 1325–81.
159
10.1. Mint equivalents and prices of coins in Venice, 1172–1471.
161
10.2. Mint equivalent of silver coins and price of gold coins in Venice, 1275–1484.
162
10.3. Exogenous increase in Venice’s stock of m, by Valentin Lefebvre.
172
10.4. Real and nominal stock of Venetian torneselli, 1353–1475.
175
10.5. Market and intrinsic value of the tornesello, 1353–1475.
176
11.1. Intervals in the three-coin case.
190
11.2. Price of wheat in Toulouse, 1486–1650.
193
11.3. Commodity price index, Poitou, 1460–1640.
194
11.4. Gold/silver ratios in France and Europe, 1475–1650.
195
11.5. Minting volumes in France, 1493–1600.
196
11.6. Mint prices and equivalents for silver coins in France, 1514– 1650.
198
11.7. Mint equivalent and price for gold coins in France, 1475–1650.
199
11.8. Legal and market values of large coins in France, 1554–77.
201
11.9. Index of the French livre against other currencies, 1562–76.
207
12.1. Paper money of Leyden, 1574.
222
14.1. Spanish copper coins, early 17th c.
234
14.2. Spanish copper coins, 16th and 17th c.
235
14.3. A Roman coin stamped in Castile in 1636.
14.4. Nominal and real value of copper coins in Castile, 1595–1680.
242
14.5. Market and intrinsic value of a cuarto coin, 1600–1660.
243
14.6. Indices of x and e for a cuarto coin, 1600–1660.
244
14.7. Real balances of assignats in France, 1789–96.
247
15.1. Price of a gold coin in Perpignan, 1640–56.
256
15.2. Price of gold and large silver coins in Bavaria, 1610–25.
258
15.3. Price of large silver coins in Russia, 1655–63.
259
16.1. Portrait of Sir Henry Slingsby.
269
16.2. Minting volumes in England, 1660–1718.
274
16.3. Market price and legal limits on the guinea, 1692–96.
278
16.4. Market price of gold and silver bars in London, 1693–99.
279
16.5. Intervals with full-weight and underweight silver coins.
280
17.1. Market and legal gold/silver ratios in London and Hamburg, 1694–1797.
297
17.2. Gold minting and market price of gold in London, 1718–1800.
299
17.3. Market price of silver bars in London, 1713–1800.
301
21.1. Constraints on the price level imposed by the arbitrage conditions.
344
21.2. Rates of loss from wear and tear on coins, 19th c. estimates.
347
22.1. Stationary equilibrium, non-binding constraint.
352
22.2. Effect of a shift in endowments.
355
22.3. Effect of a shift in endowments (logarithmic case).
358