APPENDIX I

It was issued at an equivalence of 20 soldi, which were represented by 20 silver florins, already known.

The variation of this coin with regard to the unit coin of lower denomination will be found in the Table below.

There is a second variation of the gold florin, apparently with regard to itself, which has given rise to much misunderstanding, and requires explanation. As the process of wear and tear and abrasion went on in the coins, with lapse of time the custom grew of subdividing or hypothecating a gold florin of ideally perfect weight and condition as the standard for transactions. This became book or bank money, and the actually circulating medium was rated to it at a certain discount. This ideal florin is known as fiorini di suggello or sigillo, florin of the public seal, and there is a series of such denominations. The first apparent adoption of such a method—which also emerges in the currency history of Hamburg and Amsterdam—was in 1321, and the florins of that date are styled "of the first Page 303 sigello"; the second was in 1324, the third in 1345, and so on. Between the years 1328 and 1462 there was a series of eight, as follows:—

Subsequently, by law of 30th May 1464, this various advantage was transferred from the fiorini di suggello to a new denomination, fiorini d'oro larghi, with an advantage of 20 per cent. above the fiorini di suggello; and once again, by the law of 14th October 1501, the process was repeated.