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<p>[QUOTE=&quot;BenSi, post: 3870256, member: 95174&quot;]Pardon the delay in reply, I just got home from travel and had to look ay my library&nbsp; to answer this properly. </p><p><br /></p><p><br /></p><p><br /></p><p><u>Economic expansion in the Byzantine Empire 900-1200</u> by Alan Harvey 1989 On page 80 , the start of the chapter of Taxation and monetary circulation.</p><p><br /></p><p>&quot; The state required gold for most of its expenses and was not interested very much in the lower-value denominations but these were much more useful for most commercial transactions. &quot;</p><p><br /></p><p>I am paraphrasing the next paragraph.</p><p><br /></p><p>In cases&nbsp; that the Peasant producers did not have the necessary gold coinage to pay the tax they traded with the land owners or officials for the gold coinage , in either case they had to pay in an unfavorable rate of exchange.[/QUOTE]</p><p><br /></p>

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