Information about currency: Red Złoty (Polish-Lithuanian Commonwealth)

Red Złoty (Polish-Lithuanian Commonwealth) (1569 - 1795)
Currency NameRed Złoty (Polish-Lithuanian Commonwealth)
System1 Złoty = 5 Szóstaków = 10 Trojaków = 30 Groszy = 90 Szelągów = 180 Ternarów = 540 Denarów
Description

Red złoty (Polish: czerwony złoty; also known as Polish ducats or florins) refers to circulating gold coins minted in the Kingdom of Poland (later, the Polish-Lithuanian Commonwealth) from 1526 to 1831. Whereas złoty "(adj.) gold(en)" could simply refer to the colour, czerwony (red) specified the material as gold.

The red złoty was different from the Polish złoty proper, which was the money of account adopted during Alexander's reign in 1496. To combat the confusion and inflation resulting from the different coinage used in the Kingdom of Poland, Sigismund I the Old around 1526-1528 introduced further monetary reform, which included increased minting of the red złoty in Kraków. From 1528 the new monetary system was used in the Polish province of Royal Prussia, and in 1569 (following the Union of Lublin and the formation of the Commonwealth), in the Grand Duchy of Lithuania.

The red złoty was minted at 3.5 grams of gold. There was also a silver złoty, worth 23.1 grams of silver. In 1526 a monetary scale was introduced in which 1 złoty = 5 szóstaków (sixpences) = 10 trojaków (threepences) = 30 groszy (groschen) = 90 szelągów (shillings) = 180 ternarów/trzeciaków (ternarii) = 540 denarów (denarii).

The value of one red złoty in terms of accounting złotys increased in time, while at the same time the amount of silver found in the grosz decreased. for example, in the 16th century the red złoty's value rose from the initial 30 grosze to almost twice that in just a few decades; in the mid-17th century it was worth six accounting Polish złoty (180 groszy), while in late 18th century one red złoty was worth about 18 Polish accounting złoty (or 540 groszy).

Coin Types in currency: Red Złoty (Polish-Lithuanian Commonwealth) (1)
Coin TypeTypeFromToSub-typesCoins
Unsorted Other 3
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Red Złoty (Polish-Lithuanian Commonwealth): Details
Issued ByPolish-Lithuanian Commonwealth
From1569
To1795
Red Złoty (Polish-Lithuanian Commonwealth): Users
CountryPeriodFromTo
Flag of Lithuania, Grand Duchy of Lithuania, Grand Duchy of Red Złoty 1569 1795
Flag of Polish-Lithuanian Commonwealth Polish-Lithuanian Commonwealth Red Złoty 1569 1795
Flag of Royal Prussia Royal Prussia Red Złoty 1569 1772