In 1252, the Republic of Florence began striking a gold coin: the florin. It carried the lily of Florence on one side and Saint John the Baptist, the city’s patron saint, on the other.
What made the florin important was consistency. Merchants and bankers could rely on its gold content, and so it was accepted well beyond Florence. Its success was measured in part by imitation, as other issuers copied its design.
Venice follows
In 1284, Venice introduced its own gold coin, the ducat. It too became a trusted currency of long distance trade, and Venice continued to strike it for centuries.
A reputation for honesty could be struck into metal.
Both coins show that value was never only a matter of weight. It depended on trust in the authority behind the coin, which is one reason the collection records the mint and issuer of every piece.
