Currency of Venice
The
lira
(plural
lire
) was the distinct
currency
of
Venice
until 1848, when it was replaced by the
Italian lira
. It originated from the
Carolingian monetary system
used in much of Western Europe since the 8th century CE, with the
lira
subdivided into 20
soldi
, each of 12
denari
.
History
[
edit
]
From its initial value of 305.94 g fine silver, the Venetian lira had depreciated so much in value over its 1,000-year lifetime that this original unit was referred to from 1200 CE as the
lira piccola
(small lira) in comparison to larger units of the same name.
[1]
The
denaro
or
piccolo
worth
1
⁄
240
th a
lira
was the only coin produced between 800-1200 CE. Initially weighing 1.7 g fine silver, it depreciated over the centuries until it contained only 0.08 g fine silver by 1200 CE.
The
Venetian grosso
then became Venice's most important silver coin from the 13th to 15th centuries. It contained 2.1 g fine silver and was valued in 1200 CE at 26
denari piccoli
, increasing to 48
piccoli
by 1350. The
lira di grossi
was then invented as a monetary unit equal to 240
grossi
and increasing in value from 26 to 48
lire piccoli
.
The gold
ducat
then became an even more popular Venetian coin from the 13th to 19th centuries. Issued in 1284 in imitation of the Florentine
florin
and containing around 3.5 g fine gold, it was initially valued at 2.4
lire piccoli
or 18 silver
grossi
(each grosso then worth 32
piccoli
). By 1472 its value has increased to 6.2
lire piccoli
.
By 1472 the
lira di grossi
gave way to the
ducat
accounting unit, equal to
1
⁄
10
the
lira di grossi
or 24
grossi
, and fixed at 6.2
lire
or 124
soldi piccoli
. Confusion then set in the 16th century when the accounting ducat became worth less than the gold ducat, leading to the gold coin being called the
zecchino
(English:
sequin
) and understood to be worth more than the accounting ducat of 6.2 lire.
The various currency systems of Italy became of less importance to European trade after the
Age of Discovery
in the 16th century; nonetheless Venice continued to issue new coins. The
scudo d'argento
of 30.1 g fine silver was introduced in 1578 for 7 lire, rising to 12.4 lire by 1739. The
tollero
of 23.4 g fine silver was issued in 1797 for 10 lire.
The Venetian
lira piccola
was supplanted in the 19th century by the Italian lira of the
Napoleonic Kingdom of Italy
in 1806 and the
Lombardy-Venetian lira
of the
Austrian Empire
. The
Italian lira
was reintroduced by the
Republic of San Marco
in 1848 at par with the
French franc
, which finally replaced all previous currencies as well as the
lira piccola
, with the latter valued at 0.5116 Italian lira.
Coins
[
edit
]
A huge variety of coins were minted under their post-1750 currency system when the
lira piccola
contained 2.4 grams fine silver, with many coins having unique names as follows:
[2]
[3]
- Copper
1
⁄
2
soldo
(
bezzo
)
- Billon
1
soldo
(
marchetto
), 2 soldi (
gazetto
, from which the
gazette
was named after), 5, 10, 15 soldi and 30 soldi (
lirazza
)
- Silver
Ducatello
or
Ducato Effettivo
: 8 lire (also in fractions of 1/2, 1/4 & 1/8)
- Silver
Ducatone
or
Giustiniano
: 11 lire (also in fractions of 1/2, 1/4 & 1/8)
- Silver
Scudo d' Argento
or
Scudo della Croce
: 12.4 lire (also in fractions of 1/2, 1/4 & 1/8)
- Gold
Zecchino
(or
sequin
,
ducat
; also in multiples): 22 lire
- Gold
Doppio
(also called
doubloon
or
pistole
): 38 lire.
The provisional government issued silver
tolleros
worth 10
lire piccoli
in 1797. These were followed during the Austrian occupation by silver
1
⁄
2
, 1, 1
1
⁄
2
and 2
lire provinciale
worth much less than the
lira piccola
. Rejection of these coins led to the later issuance of the
lira austriaca
from 1815 to 1848.
See also
[
edit
]
References
[
edit
]
- ^
Shaw, William Arthur (1896).
"The History of Currency, 1252 to 1894"
.
- ^
Kelly, Patrick (1821).
"The Universal Cambist, and Commercial Instructor: Being a Full and Accurate Treatise on the Exchanges, Monies, Weights and Measures of All Trading Nations and Their Colonies; with an Account of Their Banks, Public Funds, and Paper Currencies"
.
- ^
Snelling, Thomas (1766).
"A View of the Coins at this Time Current Throughout Europe: Exhibiting the Figures of Near 300 on 25 Copper Plates, Together with Their Value, ... Intended for the Use of Travellers, ... By Thomas Snelling"
.
Sources
[
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]
Currency units named
pound
,
lira
, or similar
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Circulating
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Local alternative currency
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Defunct
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Historical antecedents (mass)
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See also
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History
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Geography
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Politics
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Economy
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Culture
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Historic currency and coinage of Italy
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Overview
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Ancient
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Medieval
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Modern
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Contemporary
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