For this reason, the efforts of pre-modern states to offset the detrimental effects of bullion shortage by means of debasement were doomed to frustration.
I will examine this apparent paradox (presence of bullion but absence of coinage) in some detail.
This means that although there was a real bullion trade, the quantities were very small and the time was running out.
He raised the export tax on silver bullion to 5 percent.
Bullion did not entirely disappear though, as it was the currency standard in neighbouring economies.
No form of exchange makes a conceptualization around the notion of a regional continuum more imperative than that in bullion and minted coins.
These different reactions suggest there is some difference between the dropping of the bullion and the payment of compensation.
The impact of domestic factors on bullion, its price and its currency in the market was mainly demand-related and mostly shortterm in nature.
