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Why did most ancient civilizations debase their currency over the centuries?
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<p>[QUOTE="Gam3rBlake, post: 7687913, member: 115909"]Whether it’s the Greek drachma or Roman denarius in Ancient times or the Pound Sterling in the Middle Ages it seems like almost every major civilization debased their coinage over the centuries.</p><p><br /></p><p>For example when the Roman denarius was first minted around 211 BC it was originally a coin containing 4.5 grams of relatively pure silver (as pure as they could get it in those days) but by the 3rd century it contained less than 3.1 grams of less than 50% fine silver.</p><p><br /></p><p>Why did they do this? Didn’t they know it would cause serious inflation problems and was bad for the economy?</p><p><br /></p><p>If the King/Emperor etc., didn’t know personally surely one of their advisors did.</p><p><br /></p><p>[ATTACH=full]1320149[/ATTACH][/QUOTE]</p><p><br /></p>
[QUOTE="Gam3rBlake, post: 7687913, member: 115909"]Whether it’s the Greek drachma or Roman denarius in Ancient times or the Pound Sterling in the Middle Ages it seems like almost every major civilization debased their coinage over the centuries. For example when the Roman denarius was first minted around 211 BC it was originally a coin containing 4.5 grams of relatively pure silver (as pure as they could get it in those days) but by the 3rd century it contained less than 3.1 grams of less than 50% fine silver. Why did they do this? Didn’t they know it would cause serious inflation problems and was bad for the economy? If the King/Emperor etc., didn’t know personally surely one of their advisors did. [ATTACH=full]1320149[/ATTACH][/QUOTE]
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