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by hgomersall
1194 days ago
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Which is wrong - the Romans realised that money should carry the face value of the coin over its commodity value, enforced by the power of the state (and taxation). It was kind of forgotten in the middle ages, when coin was a weird hybrid of its face value and its commodity value (much of the monetary shenanigans for hundreds of years was concerned with maintaining face value in light of fluctuating commodity prices). |
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