|Currency Name||Florentine Florin|
The Florentine florin was a coin struck from 1252 to 1533 with no significant change in its design or metal content standard during that time. It had 54 grains of nominally pure or 'fine' gold (3.5 grams, 0.1125 troy ounce) worth approximately 140 modern US dollars. The "fiorino d'oro" of the Republic of Florence was the first European gold coin struck in sufficient quantities to play a significant commercial role since the seventh century. As many Florentine banks were international supercompanies with branches across Europe, the florin quickly became the dominant trade coin of Western Europe for large-scale transactions, replacing silver bars in multiples of the mark (a weight unit equal to eight troy ounces).
The weight of the original fiorino d'oro of Florence was chosen to equal the value of one lira (i.e. a nominal silver pound of 20 soldi or 240 denari) in the local money of account in 1252. However, the gold content of the florin did not change while the money of account continued to inflate; by 1500, a florin was worth seven Florentine lire. The values of other countries' money continually varied against each other, reinforcing the florin's utility as a common measure of value for foreign exchange transactions.