City States Minting Currency

minting-currency

Throughout history, city states were permitted the legal status to design and manufacture their own unique currency which inevitably lead to tens of thousands of different designs on both the fronts and backs of coins, throughout the ancient world. Surprisingly this chaotic monetary system was not an issue for commerce as each coin manufactured was approximately the same size and weight with the same amount of silver or gold smelted into it, making trade relatively straightforward as values rarely fluctuated and could be traded at their intended face value regardless of the geographic location they were manufactured in. This system eventually gave way to the modern day system developed during the 18th century in the United States of America which stated that only the government of a nation was legally permitted to mint currency, with the size and metals being utilized deemed irrelevant as the currency depended solely upon how valuable the currency was in comparison to the world market, a counter balance which is heavily influenced by the gross domestic product of both the import and export of every country involved in trade alongside many other smaller yet equally important intrinsic factors (e.g. political climate or instability)

British Penny

British-pennies

Neither the United States of America nor Canada have ever manufactured a penny. The term “penny” is a British invention derived from the term “pence” and refers to a “coin used before 1971 which is worth one twelfth of a shilling”. When the United States seceded from Britain, they created the term “cent”, which refers to a “unit of currency which is 1% of $1.00

Tsukiji Fish Market

Tsukiji-fish-market

The largest fish market in the world is Tsukiji Market located in Tokyo, Japan. Nearly 1700 tonnes of fishery products are handled in the Tsukiji wholesale market every day, and approximately 480 different kinds of fish are traded. Over 12,000 employees work for various fish dealers and over 30,000 customers come through each and every day

Coin Ridges

antique-coin

In the early age of coin currency, after coins were struck, opportunistic people would excise small pieces from the edge of the coin. After doing so over and over, these people would eventually amalgamate large quantities of silver. It was such a large problem that the British government became involved in an attempt to put an end to it. Sir Isaac Newton is credited with inventing the the ridged coin as a solution, which is why to this day coins have ridges. The British government soon after made it law that if any of the ridges were missing from any coin, the coin was no longer constituted as legal tendered currency. This solution stopped the practice of coin excision all together