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What Coinage Tells Us

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    Posted 8 years ago

    SpiritBear
    (813 items)

    I'd like to focus on Germany for this, but I could have done a posting on France or Belgium or Egypt from my collection for this, too. This is just my generality of thought on coin currency-- Germany's paper money from the 1920s is very deceptive in that it looks very good, as if the country is flourishing.

    1876. Germany, 5 years old, has proudly minted a 20 pfennig coin-- which, for the Americans, could be thought of like 20 cents-- in silver.

    1923. Germany, a little over 50 years old, has minted a 500 mark coin-- which, for the Americans, could be thought of as 500 dollars-- in aluminum.

    100 pfennig made 1 mark like 100 pennies makes 1 US dollar.
    So why is 20 pfennig made in silver, and the 500 marks made in aluminium?

    Germany, finally unified after centuries of tumultuous kingdoms, had in 1876 been doing quite well. After beating back their enemy-- the French-- they seized coal-rich lands and their economy soared. Steel and coal, founders of a modern world, became their economic backbone. And as they had control over this, they flourished-- enough to mint proud coinage in a semi-valuable metal.

    So what went wrong, to lead a coin that should be 25 times more valuable to be made out of cheap, easily corroded aluminium?

    The War hit, and they lost. Inflation set in as they tried to pay debts and function as a country. One could do this same study based on their stamps for this time. The value of the mark, and especially pfennig, plummeted so greatly that they had nothing to survive on. In fact, 1 loaf of bread in 1923 Germany cost 200 billion marks.

    And from this we gather that a country doing extremely well will mint coins of lower denominations in desirable metals, and that countries minting high-value denominations (to our eyes) in non-desirable metals are likely struggling.

    Let's fast-forward just 13 years.
    1936. Germany. Hitler has consolidated power and has done miracles for the country. The people think he's a God-given gift. He seems to have rescued them all from certain death. And he promises a restoration of power in Germany-- clearly seen, to them it seemed, as the economy flourished once more.

    Money is being minted in typical metal: Copper-- even for the low-value 2 pfennig I have shown.

    What does copper tell us? Well, copper is a metal that stays as it is longer. It's a semi-valuable metal that many countries-- including my own-- use for 1 or more denominations of coins. It holds its value, and as such it holds more weight in the global economy.

    Fast-forward just 5 years.
    Germany. 1941. The country is on the decline almost as soon as the Second Great War has started. They devote all good metals to the necessary things and war-effort-- just like America. But unlike America, they're struggling financially. They over-did it. Too much spending. Too much work. They will not last. They had not enough needed materials stock-piled to keep them afloat, and they can only give a good show and hope for the best.

    And their money is made out of low-quality zinc, which turns black fairly quickly. Did they still have silver coins? They did. Sadly, much of this later silver likely came from the caps and fake teeth of Concentration Camp victims.

    The fact that where once they minted copper and silver regularly, and now they mint in zinc that decays, tells us the country is indeed struggling.

    We can apply this to many countries. The Vichy Regime of France during German occupation saw its money being minted in zinc also. And when a country puts food on its coinage, it's possibly trying to make the people think that it can actually feed them-- that there is enough food for all to be full.
    Sayings like the one on the coin in the following link, which also shows food, may appear to be trying to teach a moral-- but could they also, secretly, be trying to inspire hope of a good future?
    http://www.collectorsweekly.com/stories/177055-1921-germany-in-decline

    Coins aren't just coins. They're not just the face value. They can be an analysis of the overall economy of a country. Symbolism has long been worked into coins, and by thinking a little harder one can work out what the country may be trying to say to its people and how well it's actually accomplishing what it's saying.

    Germany is an excellent example of this. It goes from regular minting of 20 pfennigs-- which was fairly high in 1876 compared to any other time after-- to zinc, a non-valuable metal that corrodes quickly to an ugly, depressing black. From a shining economy to one stained with inflation and decay.

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    Comments

    1. blunderbuss2 blunderbuss2, 8 years ago
      Very informative write-up. Food for thought too.
    2. SpiritBear, 8 years ago
      Thank you. :)
    3. blunderbuss2 blunderbuss2, 8 years ago
      To be honest, I ran a black-market currency operation in Jamaica & knew the signs in other countries. New foreign currency in countries on the streets means black market. Many, many countries have black market banks etc. that are even, often, protected by the police/gov't.. You inquire before or soon after entering a country & just go to the right places. Haiti in the 70's had U.S. dollars that were almost falling apart & you often got Buffalo nickles in change. (NO black market!). I (may have) moved about 5.8 mil. in 8 yrs. @ 10% plus expenses, while playing in other fields as well. Fun times !!!
    4. AnnaB AnnaB, 8 years ago
      Very informative post, Spirit! Thank you for your time and sharing your knowledge. I've been a rare guest here lately, unfortunately, but had to stop by and say hello :) Hope your semester is going well!
    5. Trey Trey, 8 years ago
      Great history:) thanks for sharing.
    6. SpiritBear, 8 years ago
      Blunderbuss, that is very interesting! Thanks!

      Thanks, Anna. I've been extremely ill lately, though, so it's hardly going at all. I wrote this whilst in bed. I hope you're doing well.

      Trey, thanks for reading and commenting. :)
    7. AnnaB AnnaB, 8 years ago
      Sorry to hear that, Spirit. Wishing you quickest and fullest recovery! I'm ok, craziness at work continues with no end in sight. Hope you feel better soon!
    8. SpiritBear, 8 years ago
      I hope so too.

      Take care, you both (And don't get what I got!) :P
    9. blunderbuss2 blunderbuss2, 8 years ago
      Hope it's not serious or transmittable via email. Get well soon.
    10. SpiritBear, 8 years ago
      Y'all got it now. ;)
      Muahahahahhaha.
    11. blunderbuss2 blunderbuss2, 8 years ago
      Afraid you're too young for out usual island "magical cures". Can't send it via email either.
    12. SpiritBear, 8 years ago
      No cure, Nicefice. ;)

      LOL, Blunderbuss. If it's alcoholic, I have plenty of cures containing it. It's just that most are 90+ years old, and I don't drink anyhow.
    13. blunderbuss2 blunderbuss2, 8 years ago
      LOL!! We have all sorts of cures that don't have alcohol. I learned decades ago that island herbal cures often work much better than the "white man's magic" !! Often a herb you know under certain names in 1 island/country, is called something else in another island/country.
    14. SpiritBear, 8 years ago
      *Eats dem all.*
    15. blunderbuss2 blunderbuss2, 8 years ago
      Maybe ! Islanders have a herb cure for everything. And they work ! Saved my life several times.
    16. blunderbuss2 blunderbuss2, 8 years ago
      Saved my life several times & charge next to nothing, if anything at all. How much does your licensed medicine-man charge & your registered druggist ?
    17. SpiritBear, 8 years ago
      *Avoids them as much as possible.*
    18. blunderbuss2 blunderbuss2, 8 years ago
      I'm being unfair giving credit to just islanders. The "civilized world" chases these herbal cures & plagiarize the findings as their own. Then, they start throwing chemicals together & often hurt or kill. Many, if not most of these "known" cures are known in the "semi/un" civilized world. (By the way: I'm a proud son of a doctor before the "pay-me-1st" doctors came along).

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