0
Over a century of coin debasement had made the coins worthless. Several emperors had decreased the precious metal content of coins (gold or silver) to increase the number of minted coins to finance their expenses. This created hyperinflation via two mechanisms. One was the overabundance of coins due to oversupply. The other was that the coins eventually come to have virtually no value.
They had as little as only 5 % of precious metal. Barter exchange often came to replaced monetary purchases. Other effects were:
1) A breakdown in trade. It became difficult to exchange goods with a worthless currency.
2) The urban economy collapsed. Manufacturing in cities shrunk because their goods, which were for long-distance trade, could not be traded.
3) Agricultural production on the large landed estates became localised. Sales of crops for the cities decreased and these estates concentrated on production for local barter.
4) Many people migrated from the cities to the countryside and the population of the cities shrunk.
5) The owners of the large estates employed the migrants from the cities as servile labour. These people lost their rights and became tied to their landlords.
6) Distressed peasants who were leaseholders on the large estates were leaving their land in search for better opportunities. They were often turned into servile labour in the large estates as well.
Add your answer:
Earn +20 pts
How did people find out about the great depression?
They usually found out when they either lost their jobs or their stock lost 90% of its value. If neither of these happened to them then they found out from their less fortunate brethren who either lost their jobs or lost 90% of the value of their stocks.
What was Justinian l's main goal?
Recapturing lost Roman lands
Is a 1984 penny that appears to be made of steel possible?
This coin has two possibilities; One is that someone has altered the coin after minting, such as coating it with mercury, ETC. A related possibility is that the zinc base coin lost its copper plating, or was never plated in the first place. This type of coin is worth only face value. The second possibility is that it is a misstruck coin. This type of error in minting is called 'Wrong Planchet'. The only planchet that a penny can be mistakenly minted on is a dime planchet. These are extremely rare and are worth $250.00.
What did the public think of Henry VIII?
In the beginning half of his reign he was very popular and the people loved him. later on, after the dissolution of the monasteries and the removal of roman catholicism and the introduction to the English church, he lost alot of popularity. By the end of his reign he was not very popular with the people at all. He also lost a lot of supporters after the split from Catherine of Aragon whom most people loved.
What was Justinian I's main goal?
Justinian I's major goals during his reign were to reunite the Roman Empire, return it to its former glory , and to reclaim lost territory in the West.
1927 Aussie florin with a gold surface that is tarnished It has been made into a brooch Is there any value to this coin brooch?
The collector value of a coin is lost when the coin is modified. Any value would be associated with the brooch.
How is the parable of the lost coin and the lost son connected?
The parable of the lost coin and the lost son both emphasize the importance of seeking out and reconciling with what is lost. The lost coin highlights God's dedication to seeking out and saving the lost, while the lost son illustrates the idea of repentance and forgiveness for those who have strayed. Both parables underscore the value of redemption and the joy of reconciliation.
What happened when roman coins lost value in the a.d. 200?
The coins became worth more when they lost value because of the little amount that they had.
What is the name of jason's sword in the lost hero?
his sword dosent have a name its a coin that can turn into a sword or lance because its roman
What will happen to the value of a penny that has been cleaned with hydrochloric acid?
The collector value of any coin will be lost if it is cleaned with anything. Any acid or other abrasive cleaning agent will destroy the finish of the coin and remove minute particles of the metal. If the coin has no collector value to begin with, you will end up with a lovely shiny coin.
What happened when the Roman money lost value?
When the Romans money lost its's value, many Romans began to barter. The money lost it's value because less gold was brought it, so less gold was made into the money. Hope this helps(:
What is the value of a 1923 liberty head dollar with the liberty head and eagle in gold plating and rest of the coin in silver?
This coin was modified after minting for sales promotion. All collector value has been lost. As a novelty item it has a value of about $15 - if you can find an interested buyer.
What is the value of a 1840 half dime with a hole?
The hole totally kills the collectible value of the coin. Unless you find someone that wants it, the value is only for the silver, and that depends on how much weight was lost by the hole..
what is the theme of the poem a lost coin by oswald mtshali?
the theme of the poem a lost coin by Oswald mtshali
What is the value of a 1710 Queen Anne Two Guinea coin pierced at the top?
There is no record of a 1710 Queen Anne Two Guinea coin having been minted. If there had been, the collector value would have been lost due to the piercing, but at the least, it would be worth the bullion value of the gold.
How did people find out about the great depression?
They usually found out when they either lost their jobs or their stock lost 90% of its value. If neither of these happened to them then they found out from their less fortunate brethren who either lost their jobs or lost 90% of the value of their stocks.
What did Dark Ages do?
it was the period of time when roman empire fall and they lost their literate people and science.
