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<p>[QUOTE=&quot;EWC3, post: 4575873, member: 93416&quot;]But all coins are used in trade of some sort – so on that basis “coins” is enough. “Trade coins” are conventionally coins struck specifically for overseas territories, and not for domestic use.</p><p><br /></p><p><br /></p><p><br /></p><p>I can see the sense in calling Athenian tets and Spanish dollars &#039;trade coins&#039; of course – but I challenge your claim concerning the extent that they were used “locally”. They were way too big for most daily transactions and in both cases they seem to go side by side with a lack of small change in silver for domestic use. 17th century Spain surely was chronically short of domestic silver currency – people were driven to towing cartloads of junky copper around to make payments.</p><p><br /></p><p><br /></p><p><br /></p><p>Great care is needed concerning expressing this suggestion. The idea that domestic coin should be valued according to its metal content is very controversial.</p><p><br /></p><p>Adam Smith in the 18th century called the idea:</p><p>a <i>vulgar abuse…...</i> (of)……. <i>the mercantile system</i>.</p><p><br /></p><p>Alexander del Mar in the 19th century called it:&nbsp;&nbsp; <i>a monetary crime</i></p><p><br /></p><p>As I mentioned above – I started to figure out almost 40 years back that much of what modern academia put out regarding matters of coin issue and use is very misleading on these matters. Close to propaganda. I found it deeply disturbing then and I still do.</p><p><br /></p><p>Please bear in mind too that I have published a detailed paper bearing exactly on how prominent academics are misleading (and themselves misled) on these sort of coinage matters. And that the paper was passed for publication - refereed by two former presidents of the RNS.&nbsp; (If such things matter any more?)</p><p><br /></p><p>Rob T[/QUOTE]</p><p><br /></p>

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