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Revision as of 17:08, 20 February 2006 by Yellowmellow45 (talk | contribs) (incorperate text from "The Popular Encyclopedia" vol.V, published 1894)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)The ducat (IPA /ˈdʌ·kʰətʰ/) is a gold coin that was used as a trade currency throughout Europe before WW1. It's weight is 3.494 grams which is 0.1125 troy ounce and of .986 pure gold, having a metal value of about € 43.82 as of October 2005. However, the gold value's fluctuating at the moment, the generic value of one modern ducat is around € 50.
History
The first issue of this coin is thought to have been under Roger II of Sicily, who, in 1140, coind ducats bearing the figure of Christ, and the inscription, 'Sit tibi, Christe, datus, quem tu regis iste ducatus' (or roughly, 'He is for you, Christ, give to whom you rule that ducats').
The ducat was introduced by the Republic of Venice in 1284 under the doge (duke) Giovanni Dandolo (1280-1289). The Venetian ducat, called zecchini, featured the Doge kneeling before St. Mark on the obverse and Jesus on the reverse. During the Middle Ages the ducat gained much popularity, as it was easy to mint, and packed quite a value in one relatively small coin. Several cities and small states in Europe - mostly Eastern Europe in the Middle Ages - issued multiple, single and fractional ducats. The standard pf coin was adopted in Hungary; abd for a long time all foreign coins bore the name Ongri, or Hungarian in Italian, where the trade of the world at this period was concentrated. They did not become popular in Germany until a later date.
The Golden Bull of Charles IV gave to all members of the empire the privilage of issuing gold coins, with any stamp they chose; but these were only gold guilders, equivalent the the florin.
Ducats became a a standard gold coin throughout Europe, especially after it was officially imperially sanctioned in 1566. The ducat remained sanctioned until 1857. To make it more confusing there was also a silver ducat minted in many European nations. The Dutch Mint still issues silver ducats with a weight of 28.7 grams.
The most common type of ducat were the old Dutch ducats, bearing the impression of an armed figure, which gave way, for a short time only, to the figure of Louis II of Flanders. They circulated almost as merchandise, but had been frequently counterfeited in the Grisons. The counterfeits were very good in appearance, both in weight and sound.
According to 1913 Webster the ducat was worth the equivalent of "nine shillings and four pence sterling, or somewhat more than two dollars. The silver ducat is of about half this value." The ducat itself was worth an amount of money, but it was not written down in other denominations, such as its exact worth in German marks, Dollars or any other currency of that time.
The production of ducats as trade coins continued after WWI by some nations, namely Czechoslovakia and The Netherlands. Even now some national mints produce batches of ducats made after old patterns as bullion gold and banks sell these coins to private investors or collectors.
Nations, States & Cities were the Ducat was minted
- Poland
- Kingdom of Hungary
- Yugoslavia
- Germany many German cities, states and principalities before 1871.
- Russia imitated Dutch ducats due to their popularity.
- The Netherlands issues still ducats having the same weight, composite and design when they were first minted in 1589.
- Italy Italian states issued the ducat, Venice, Genoa etc.
- Austria The Austrian mint still mints single and four-ducats, both dated 1915.
- Romania
- Switzerland Before the Swiss unification, the Swiss also minted Ducats. The most well known are the Zurich ducats.
Misc
The name ducat is derived from the Latin for (duke)
The term "ducat" is still used today as slang for a unit of currency.
External links
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