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Message:: [QUOTE="kaparthy, post: 1808238, member: 57463"]Many reasons...  Easiest is that the economy got better - way better - and it took less and less silver to buy the same goods and services as new goods entered the markets. The coins could only get so small.  So, they were debased. More often, the local ruleers spent more than they took in in taxes, etc., and ran deficits. Rather than borrowing, they lowered the fineness of their coins over time little by little, more and more. After all, the rulers were the first users of coins: they were struck to buy things for the castle.  So, it was a hidden tax, which inflation always is. In addition, coins have utility and mints cost money to operate. High-purity silver would be spent abroad from the closest neighbors to the farthest ports. That worked well for the English Penny, Genoa Florin, Venice Grosso, etc, which became trade coins, but for the little guys, it was a hassle. Debased coins stay home in local markets. You don't pay the mint to work. I have a 1/12 thaler 1846 from Hanover, about 20 mm or about the size of US nickel or between  than an old UK six pence and shilling.  According to K&M it is .521 fine. It says 168 to the fine mark. The books say a Mark of 7-1/2 oz.[ATTACH=full]294919[/ATTACH][/QUOTE]