Tous les séminaires
Jeudi 18 Octobre 2012
François R. VELDE (Federal Reserve Bank of Chicago) présentera une communication :
"On the Origin of Specie"
de 14 h à 15 h 30 en Salle S016 à l'INSEE-CREST,
15 Boulevard Gabriel Péri, 92245 MALAKOFF (Métro : Malakoff/Plateau de Vanves (Immeuble "Malakoff 2)).
Highly preliminary and incomplete.
The first coinage arose in 7th c. Asia Minor. It presented a full range of denominations, produced with great precision of weight. But the content was highly variable: it was a natural mixture of gold and silver, which seems to have been diluted with silver. Why use what is in essence a lottery ticket to create the first circulating coinage? Existing explanations are found wanting. Data from late modern coin circulation indicates that the early electrum coins did circulate.