In the Middle Ages in most European countries, the main monetary unit was ducat. It was a coin made of gold, weighing about 3.5 grams. Venice was the first to mint ducats. Thus, this state borrowed the practice that had taken place in the Republic of Florence, where florins had been made even earlier. What is ducat? This material will help answer this question.
Interesting Facts
For seven centuries, many European states have been manufacturing ducats. One of the features of these coins is their extreme wear resistance. And to this day they have retained their sample and original weight. Such characteristics make ducat an attractive product at various specialized auctions. So, some copies are traded at the level of two hundred American dollars. For example, Dutch ducats.
Coins from other states are much less common. At the same time, the price for them can be several times higher than for ducats from Holland. Polish ducats are considered one of the rarest coins. What does the word "ducat" mean? The name of this currency comes from the word dux - "duke".
Ducats in Venice
During the reign of the legendary Doge of the Republic of Venice, Enrico Dandolo (1192-1205), the main coin used in trading operations in the Mediterranean were Byzantine hyperpirs. They were also called "Iperpirs." At the same time, it should be noted that the Byzantine rulers of that era regularly devalued the local currency. The purpose of such actions was to mint new coins to cover military expenses. As a result of this permanent devaluation, hyperpiron has lost its popularity. What is ducat for Venice of that time?
Venetian merchants, on the contrary, were interested in a strong and stable currency that would have authority and deserve the trust of foreign merchants. And in 1294, gold ducats began to be minted in the Republic of Venice. This moment came during the reign of the Doge Giovanni Dandolo, who was the great-grandson of Enrico.
Ducats in other states
Venetian coins were made by analogy with the Florentine florin, which appeared in circulation in 1252. Their weight was 3,545 grams of the purest gold that the metallurgical industry of the Middle Ages could only produce. It should be noted that the metric test of modern wedding rings is a maximum of 958, while the indicators of gold ducats corresponded to 994.7.
In addition to Venice, Genoa, Hungary, the popes made their own ducats, and also, in the second half of the 15th century, the Ottoman sultan Mehmed II the Conqueror. True, the latter minted his own monetary unit of the Golden Sultani, but according to the standard of European coins. In addition, at the end of the XVI century, after gaining independence from the Spanish crown, the Netherlands began to produce their ducats.