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Silver was one of the only accepted trade items from Europeans and its value in China was astronomical compared to rest of the world. [39] Between 1600 and 1800 China received 100 tons of silver on average per year. [citation needed] A large populace near the Lower Yangtze averaged hundreds of taels of silver per household in the late 16th ...
The Spanish silver dollar created a global silver standard from the 16th to 19th centuries. The silver standard [a] is a monetary system in which the standard economic unit of account is a fixed weight of silver. Silver was far more widespread than gold as the monetary standard worldwide, from the Sumerians c. 3000 BC until 1873.
The silver crown was one of a number of European silver coins which first appeared in the 16th century, all of which were of a similar diameter (about 38 millimetres) and weight (approximately one ounce) [troy?], so were more or less interchangeable in international trade. English silver crowns were minted in all reigns from that of Elizabeth I.
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The coin's origins lie in the English silver crown, one of many silver coins that appeared in various countries from the 16th century onwards (most famously the Spanish piece of eight), all of similar size and weight (approx 38mm diameter, 25g fine silver) and thus interchangeable in international trade.
The silver mines at Joachimstal had opened in 1516, and the first such coins were minted there in 1518. The original spelling was taler (so Alberus 1540). German -taler means "of the valley" (cf. Neanderthaler). By the late 16th century, the word was variously spelled as German taler, toler, thaler, thaller; Low German daler, dahler.
Merk of Charles II, 1671. The merk (Scottish Gaelic: marg) is a long-obsolete Scottish silver coin.Originally the same word as a money mark of silver, the merk was in circulation at the end of the 16th century and in the 17th century.
At the end of the 16th century King James VI called in all silver coins, totally 211 stone and 10 pounds, and these were melted down to create new coins with his image, hugely reducing the surviving coins predating this point. At this point copper pennies were first minted, valued at one twelfth of a silver penny. [16]
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