790 AD

SILVER PENNY

MEDIEVAL EUROPE

Europeans of medieval times used the bartering system for trade, which mainly consisted of goats, cows and other livestock. When the Normans conquered England in 1066, the currency produced under the Norman kings were all silver pennies, made at local mints throughout the country. This practice was continued among AngloSaxon kings. All coins were silver until 1252, when gold coins were made in Florence, called florins. The use of silver was soon reduced to very small amounts in coins and replaced with copper.