Category: Numismatics

The Origin of the Piggy Bank

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During the 15th century, the English would often store coins within pygg pots or containers. During the 18th century these vessels became referred to as “piggy banks” which is where the modern day term is derived from. Piggy banks were called as such because of the pygg they were comprised of which is a type of clay, an inexpensive, orange colored earthenware clay used to produce everyday vessels within England from the 15th century onward (e.g. pitchers, cups, pots etc.). The primary reason for this is that metal has been costly all throughout history, due to the difficulty of sourcing and producing it from ore, and because of this expense, alongside the fact that pygg is more commonly available and found in larger quantities throughout England, the English public relied upon pygg containers to hold not only food and liquids but also spare coins and other small treasures

The Role of Jewish Financiers Within Venice, Italy During the Renaissance and the Reason Christians Became Capable of Charging Interest Upon Loans

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During the Renaissance, Jews were tolerated in Venice, Italy because they could provide an invaluable service which Christian financiers and merchants were forbidden to do which was to charge interest upon a loan, a concept referred to as “usury”, derived from the Latin term “usura” which means “use” or “interest”. Christians considered charging interest to be a sin and therefore could not partake in this economic exchange. Unfortunately, the Catholic Church’s Medieval laws against usury acted as a major obstacle for the development of finance within Europe during this period. Jews were not technically permitted to lend capital with interest, but those who did relied upon a convenient clause found within the 23rd chapter of Deuteronomy of the Christian Bible which states that lending to a brother at interest was forbidden but that a stranger was a different matter all together. These Jewish lenders interpreted this scripture as a means to provide the ability to lend to Christians, as Christian’s were not considered brothers of the Jews in a religious context during this period, but they would still not be capable of lending finance to other fellow Jews, as these members of society were viewed as brothers regardless of familial ties. Eventually Christian’s were able to circumvent the prohibition of charging interest, primarily because of Giovanni di Bicci de’ Medici, one of the wealthiest entrepreneurs within Italy during the Renaissance. Medici was able to evade Christian usury legislation as Jewish bankers did because of a clever device of trade which made profit upon exchanging multiple currencies rather than interest rates alone. No “interest” paid to Medici meant no sin had been committed. Medici’s business model took a small commission for each currency conversion rendered, with the size of the loan directly impacting the commission of the person who lent it

How Credit Scores Work Within North America

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Credit is a complex issue, influenced not only by individual financial behavior but also by institutional frameworks, socioeconomic conditions, and evolving market dynamics that shape how credit is accessed, evaluated, and/or sustained. 35% of ones credit score is due to payment history; paying on time is crucial to having and maintaining a healthy credit score. 30% of ones credit score is due to what they owe, primarily in relation to how much credit they have and how much credit they owe (eg. allotted $25,000 and used $20,000). Going over 30% of ones allotted credit is a red flag for creditors and lowers ones score. 15% of ones credit score is due to the length of time in which the person has had some form of credit which is why it’s important to start and build up credit early in adult life. 10% of ones credit score is due to how many times credit was opened; multiple openings or inquiries in a short period may signal risk but repeated openings of new credit or repeated attempted openings of new credit shows that the person in question constantly requires more and more credit and is at a higher risk to not be able to pay back a loan. Finally, 10% of one’s credit score is due to what kind of credit they have. Having a balanced credit history of vehicle loans, student loans, mortgage loans, and credit card loans is more favorable than having only a single credit card loan all by itself as it shows the ability to manage diverse credit types

The U.S.’ Attempt to Combat Fraudulent Currency in 2013

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The U.S. $100.00 note was updated in 2013 to employ better and more advanced security measures. The $100.00 bill released in 2013 was a marvel of engineering which included the portrait watermark from the 1996 rendition, as well as the security strip which glows under ultraviolet light. In addition to these security features, color shifting ink was employed upon the bell which appears in the bottom right hand corner next to the text which states “100”, microprinting was implemented on Benjamin Franklin’s jacket cuff to inscribe “The United States of America”, “USA100” around the blank space containing Franklin’s portrait, “ONEHUNDREDUSA” along the golden quill, small 100’s in the notes borders, and a three dimensional ribbon which causes the bill to change its bell icons into text which states “100” when tilting the bill either up or down while continuing to focus upon the blue ribbon shown

Ancient Roman Dictator Julius Caesar’s Contribution to Time Keeping

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The month of July is a derivation of the name, “Julius Caesar”. The ancient Romans opted to rename “Quintilis”, the original name for July which means “fifth month” in Latin, to “July” after Caesars death because this was the same month that he was born. The Julian calendar, a western calendar used until 1582 when the Gregorian calendar supplanted it, is also attributed to Caesar as the Roman year had only 355 days and required an extra month be added, every 3 years. The ancient Romans repeatedly made the same calculation errors and continually found seasons out of synchronization with the actual calendar date observed. With the help of a few Roman scientists, Caesar removed the pre-Etruscan 10 month solar calendar in favor of the 365 day year calendar named after himself. The Roman calendar started on March 25, but was moved to January 1 with the advent of the Gregorian calendar

The Financial Costs of High Society Dinner Parties During the Victorian Era

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During the 19th century, a typical high society dinner menu for 20 people would have cost $100.00 in total, for the Earl of an estate, equivalent to the annual salary of a maid for 2 full years of service. When accounting for inflation, the cost of hosting and entertaining a monarch during this period was even more costly, costing hosts approximately $500,000. Earl’s needed to constantly be aware of and ready for a royal visit as their title is considered one step below the pole position of Duke, which of course is one step below the title of King or Queen

The Mathematical Inventions of Muhammad ibn Musa al-Khwarizmi

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The mathematical concept of algorithms were developed by and subsequently named after Muhammad ibn Musa al-Khwarizmi (pronounced “moo-ham-mad ih-bin moo-sah al kwar-iz-me”), an Islamic scholar who lived during the 8th century. The concept of algorithms arrived in Europe in the 12th century and al-Khwarizmi’s name was translated to Latin which is where the term “algorithm” is derived. al-Khwarizmi also introduced the western world to the decimal system and introduced reduction and balancing methods (e.g. like and unlike terms) causing al-Khwarizmi to become referred to as the ”father and founder of algebra”. The term “algebra” is derived from the Arabic term “al-jabr” which means “reunion of broken parts”. al-Khwarizmi invented and used algebra to solve quadratic equations and it has been stated throughout history that the ideas that al-Khwarizmi developed, helped usher in the European Renaissance during the 14th, 15th, and 16th centuries

The Statistics and Layouts Casinos Use To Get Gambling Customers To Spend More

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During 2014, 40,000,000 (40 million) people visited Las Vegas, United States of America and lost a combined total of $10,000,000,000 ($10 billion). The average odds of winning when using a slot machine are approximately 6.6% meaning that for every $100.00 put in, the casino takes $6.60, baiting players with a win but bleeding them dry in the long term, banking nearly $0.07 (7 cents) for every $1.00 dropped into them. Casinos with the worst odds are clustered within the Las Vegas Strip, and casino games with the worst odds are clustered within the middle of each casino itself. This snowman pattern of 3 grids, each one sitting on top of a larger one beneath, surrounded by a larger perimeter of less high function activities going on also occurs in other industries including the design of digital circuits, agricultural design for industrial farms, indigenous villages layout and design in Africa, and occurs naturally within the biology of the human body. These systems are designed for maximum efficiency

The Freemasonic Society

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As of 2012, there are an estimated 6,000,000 (6 million) Freemasons worldwide. It is believed by some experts that the Freemason fraternity was established during the building of Solomon’s Temple, which occurred in 1000 B.C.. The original universal symbol of the Freemason society has a geometric compass at the top, letter “G” in the middle, and a squared ruler at the bottom. The compass is considered the main tool of the Freemason and stands for the perfect circle it draws in which a Freemason can stand. It is believed by the Freemasons that when having gone outside of this circle, a Freemason will find trouble and lose control. The only way to enlarge the circle is to seek knowledge. The square is iconography designed to represent wisdom and virtue. The letter “G” represents the “grand architect of the universe” but also can be interpreted as God or geometry, as it is believed by some experts that God is a grand architect and that geometry, specifically sacred geometry is the language of the universe. The goal of the Freemason organization is to promote free thinking, as it is believed that doing so is the only way to inoculate oneself from any tyrannical person or organization set out to enslave civilization

The British Penny

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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