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<p>[QUOTE=&quot;afantiques, post: 2709004, member: 71234&quot;]<i>I didn&#039;t say they didn&#039;t circulate, I said they weren&#039;t intended to circulate.</i></p><p><i>Gold was meant for royalty. Traded from this empire to that, from king to king</i></p><p><br /></p><p>.Just not true, gold coins were commonly circulated and used by anyone with enough money to need a higher value coin. To say otherwise is like saying $100 bills are only for the superrich people. The proof of this exists in many books, fiction and non-fiction, written from the 17th Century onwards. I mention this period because the English is near enough to modern English to be easily readable.</p><p>For a historical account of how cash was used, you will find many references in Samuel Pepys Diaries. He was careful about keeping his personal accounts and sometimes mentions how much cash he has on hand in gold and silver. He was willing to pay a small premium for gold coins if needed and in both income and expenditure he mentions receiving and paying out in gold, usually referred to as &#039;pieces&#039;.</p><p>A servant earning 5 guineas a year (plus board and lodging) would have little need for gold coins, but anyone a bit higher up the social scale, and many if not most shopkeepers would handle gold in the same way high denomination bills circulate roday.</p><p><br /></p><p>Gold coins were just normal money, they just got a lot less circulation than coppers or silver because most transactions were&nbsp; small enough not to need them.</p><p><br /></p><p>Further evidence is the existance of coin weights and coin balances, which would not have been made in such large numbers if there was no common need for them.[/QUOTE]</p><p><br /></p>

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