Exchange Rates and Silver Prices at European Fairs, Sixteenth to Eighteenth Centuries

Markus Denzel ()
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Markus Denzel: Universität Leipzig

Chapter Chapter 14 in Mining, Money and Markets in the Early Modern Atlantic, 2019, pp 349-362 from Palgrave Macmillan

Abstract: Abstract International fairs were always more than just places where goods and information were exchanged; these functions could also be observed by large annual markets. Besides, international fairs also fulfilled the function of monetary and, more importantly, credit markets. Therefore, they needed large amounts of precious metals as means of payment. When the fairs were located in the vicinity of relevant mining areas, it was appropriate to trade these products at the fairs, thus making available part of the necessary precious metals. The paper will analyse the interconnection between fairs and the availability of precious metals as well as the consequences resulting from this. One famous example will be Leipzig, over which at first the trade with silver from Freiberg and later in the fifteenth and sixteenth centuries the Saigerhandel from the Erzgebirge was executed. In return, the trade with these mining products contributed to the gradual ascent of Leipzig’s large annual markets to international fairs.

Keywords: Exchange rates; Silver prices; Fairs; Bill of exchange; Money of account (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palscp:978-3-030-23894-0_14

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DOI: 10.1007/978-3-030-23894-0_14

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