Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar.
A countermarked, punchmarked or counterstamped coin is a coin that has had some additional mark or symbol punched into it at some point after it was originally produced while in circulation. This practice is now obsolete.
Countermarking can be done for a variety of reasons. If the currency is reformed, existing coins may be rendered void. In this situation, coins already in circulation could be marked with the new value (according to the new currency system). The life span of existing coins could thus be extended, which might under some circumstances be a cheaper alternative to recalling the coins, melting them and striking replacements. Similarly, foreign coins could be marked as legal or accepted currency, thus allowing them to circulate in the area where they were countermarked. Countermarking can also be done for political reasons, i.e. a new state or régime demonstrating its authority by countermarking coins issued by the previous state.
Some experts recommend not to use the term countermark and counterstamp as synonyms, but in different contexts. A counterstamp is applied by a die, and by machine to an existing coin, while a countermark is punched onto the coin, mostly by hand, using a punch and a hammer or a primitive hand-operated machine. Often countermarks are applied by private persons, as is the case with chops (often referred to as chopmarks), which were punched by money changers, bankers or shroffs onto foreign coins circulating in China in the 19th century. In contrast the use of counterstamps should be authorized by a local or national Government. An example of this would be post WWI in now modern day Germany to show hyperinflation. (Full article...)
The Dutch name gulden was a Middle Dutchadjective meaning 'golden', and reflects the fact that, when first introduced in 1434, its value was about equal to (i.e., it was on par with) the Italian gold florin. The Dutch guilder was a de factoreserve currency in Europe in the 17th and 18th centuries. (Full article...)
... that modernist architect Paul Rudolph was said to have run out of money three times while designing the Modulightor Building?
... that Russian indie artist polnalyubvi bought her first guitar with money earned from busking with her violin?
... that the first women's dormitory built at Hampton University was partially paid for with money collected by the school's choir in tours led by Thomas P. Fenner?
Image 22Banknotes of different currencies with a face value of 5000 (from Money)
Image 23“Babyal Hoard” type, of the Kuru Janapada (350 - 315 BCE) (from Punch-marked coins)
Image 24Silver, ½ Karshapana coin, “Babyal Hoard” type, of the Kuru Janapada (450 BC - 315 BC) (from Punch-marked coins)
Image 25Printing paper money at a printing press in Perm (from Money)
Image 26Tibetan kong par tangka, dated 13-45 (= AD 1791), reverse (from Tibetan tangka)
Image 27Song Dynasty Jiaozi, the world's earliest paper money (from Money)
Image 28A check, used as a means of converting funds in a demand deposit to cash (from Money)
Image 29Sino Tibetan silver tangka, dated 58th year of Qian Long era, reverse. Weight 5.57 g. Diameter: 30 mm (from Tibetan tangka)
Image 30A 640 BC one-third staterelectrum coin from Lydia. According to Herodotus, the Lydians were the first people to introduce the use of gold and silver coins. It is thought by modern scholars that these first stamped coins were minted around 650 to 600 BC. (from Money)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
_01.jpg)
.svg){kind=small}
