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Monetary reform of 1654
In the 17th century, the epoch in monetary business ended, when absolutely any individual, which was usually a privileged and secular society, could bring material for making coins. The state finally and irreversibly took control of the mints, and supplied raw materials exclusively from its treasury. In this regard, the coins began to lose their stability, and their value gradually began to fall.
This instability of money played into the hands of counterfeiters. They could easily start minting coins, almost without fear that they would be severely punished for it. Continue reading
Coins of Ivan the Terrible
A small miniature from the Russian annals of the 17th century depicts the process of making coins. From this it is known that silver billets were first smelted in a crucible, and then they were minted, holding the hot billet in special tongs. The big omission on the part of the chronicler is the moment that he did not show how to drag the wire, cut it and plyuschat to get blanks.
Before the reform, two types of money were minted – Novgorod money and Moscow money. Continue reading
Recovery of monetary business in Russia
After a rather long period of coin-less commodity circulation, in 1380 under the Grand Duke Dmitry Donskoy, the coins regained their function. In addition, the revival of the coin case also occurred in the Nizhny Novgorod principality.
From the found coins of that era, it can again be boldly asserted that money again mainly performed the primary function of propaganda and information, since the images on the coins were dedicated to nothing but the victory of Prince Dmitry Donskoy over the Tatars. It is worth noting that initially the coins were issued with the inscription “Grand Duke Dmitry”, but later his middle name was attributed – Ivanovich. Continue reading
