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Political conflict did not, however, prevent the city's rise to become one of the most powerful and prosperous in Europe, assisted by its own strong gold currency. The "fiorino d'oro" of the Republic of Florence , or florin , was introduced in 1252, the first European gold coin struck in sufficient quantities to play a significant commercial ...
The House of Medici (English: / ˈ m ɛ d ɪ tʃ i / MED-itch-ee, UK also / m ə ˈ d iː tʃ i / mə-DEE-chee; [4] Italian: [ˈmɛːditʃi]) was an Italian banking family and political dynasty that first consolidated power in the Republic of Florence under Cosimo de' Medici and his grandson Lorenzo "the Magnificent" during the first half of the 15th century.
Crying out a funeral announcement was also forbidden. Knowing how many funerals there were discouraged the sick as well as the healthy. Priests and friars served the rich, since they were paid large amounts of money for their services, and could become rich themselves. The local authorities then made laws prescribing how many clerics a church ...
Lorenzo's grandfather, Cosimo de' Medici, was the first member of the Medici family to lead the Republic of Florence and run the Medici Bank simultaneously. As one of the wealthiest men in Europe, the elder Cosimo spent a very large portion of his fortune on government and philanthropy, for example as a patron of the arts and financier of public works. [7]
Cosimo de' Medici was born in Florence to Giovanni di Bicci de' Medici and his wife Piccarda Bueri on 27 September 1389. [6] At the time, it was customary to indicate the name of one's father in one's name for the purpose of distinguishing the identities of two like-named individuals; thus, Giovanni was the son of Bicci, and Cosimo's name was properly rendered Cosimo di Giovanni de' Medici.
Due to his allegiance to Cosimo, he was allowed to stay in Florence after his family’s exile in 1434. Luca soon became Cosimo's right-hand man and was sent as ambassador to Milan, Rome, and Venice. He became the Gonfaloniere of Justice in 1442 and, occasionally, a member of the Council of Ten. Ormanno degli Albizzi was the son of Rinaldo ...
Cosimo I de' Medici Coat of arms of House of Medici. In 1569, Cosimo de' Medici had ruled the Duchy of Florence for 32 years. During his reign, Florence purchased the island of Elba from the Republic of Genoa (in 1548), [8] conquered Siena (in 1555) [9] and developed a well-equipped and powerful naval base on Elba.
Giovanni di Bicci de' Medici (c. 1360 – February 1429) was an Italian banker and founder of the Medici Bank.While other members of the Medici family, such as Chiarissimo di Giambuono de' Medici, who served in the Signoria of Florence in 1401, and Salvestro de' Medici, who was implicated in the Ciompi Revolt of 1378, are of historical interest, it was Giovanni's founding of the family bank ...