In the Middle Ages, tens of thousands types of uni-faced bracteate coins were struck in the period 1140−1520. The existence of hundreds of small independent currency areas with their own mints in central, eastern, and northern Europe and the strong link between bracteates and periodic re-coinage explain the large number of bracteate types. The classification and dating of coins can provide insight into economic and monetary development when studying coin hoards and cumulative finds. A central problem when classifying bracteates is that most of them are anonymous, i.e., there are seldom any legends or letters. However, bracteates struck in closely located mints almost always have the same regional monetary standard. In this study, I show how monetary standards in combination with social attributes can be used to classify bracteates when both legends and find information are lacking. I also provide an economic explanation why closely related mints voluntary joined a specific monetary standard.

ABSTRACT:

Forgeries of coins can either be contemporary or modern. Already in the Middle Ages, it was well known that bracteates were considerably more difficult to counterfeit than two-faced coins. The main reason is that bracteates are struck with a more complicated technology originating from goldsmithing. Therefore, most bracteate forgeries have been produced since the eighteenth century. Compared to original bracteates, modern bracteate forgeries often have the following characteristics: 1) an incorrect weight; 2) a lower relief; 3) sharper contours on the reverse; 4) an artistically clumsy design; 5) evidence of being struck with the same die if there are several specimens; and/or 6) empty fields in the background.

The purpose of this study is to analyse which kinds of monetary taxation and coinage policies the minting authorities applied in Sweden in the period 1153–1512. In medieval Europe, old coins were frequently declared invalid and were exchanged for new ones at fi xed rates and dates. Here, the question of whether and when such periodic recoinage was applied in medieval Sweden is analyzed against the historical record. A theory of how short-lived and long-lived coinage systems work is applied to Swedish coinage. Sweden adopted similar coin forms as those minted in Continental Europe in the Middle Ages, but also adopted the corresponding continental coinage and monetary taxation policies linked to these coin forms. Swedish experience is extraordinarily well in line with what one would expect from the theory of short-lived coins. Economic backwardness, limited monetization of society and separate currency areas facilitated recoinage. Recoinage with varying frequency was applied in 1180–1290 when only bracteates were minted. This is evidenced by many different coin types per reign, coin hoards which are dominated by a few types and dating of types to specifi c periods of the kings’ reigns. However, monetization increased in the late thirteenth century, making recoinage more diffi cult. and bracteates were replaced by long-lived two-faced coins in 1290. With an end to recoinage, the Swedish kings then accelerated the debasement of the long-lived coins. The disappearing recoinage fees were compensated for by debasing the silver content. Such debasements – interrupted by several coinage reforms – were applied until the beginning of the sixteenth century.

Leaf-thin bracteate coins were minted for several hundred years during the Middle Ages. The existence of hundreds of small independent currency areas with their own mints in central, eastern and northern Europe and the strong link between bracteates and periodic recoinage explain the large number of bracteate types. A special minting technology linked to goldsmithing technology was required to produce the bracteates. A soft material was placed under a flan, and the motif was created by bending the flan rather than pressing the motif into the flan. This study analyzes how bracteate technology could save costs in the minting procedure compared to traditional coinage technology. The bending characteristic of the bracteates together with the flat hammering of old bracteates imply that the size of the flan remained almost unchanged after recurrent overstrikes. Thus, the bracteate technology saved one of the costliest steps in the minting procedure: the time-consuming production of the flan. In contrast, overstriking of biface coins using the traditional coin technology could only be performed a few times, since it caused a stepwise thinner and larger flan. The latter phenomenon explains the existence of biface half-bracteates.