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Exchange Rates and Silver Prices at European Fairs, Sixteenth to Eighteenth Centuries

In: Mining, Money and Markets in the Early Modern Atlantic

Author

Listed:
  • Markus Denzel

    (Universität Leipzig)

Abstract

International fairs were always more than just places where goods and information were exchanged; these functions could also be observed by large annual markets. Besides, international fairs also fulfilled the function of monetary and, more importantly, credit markets. Therefore, they needed large amounts of precious metals as means of payment. When the fairs were located in the vicinity of relevant mining areas, it was appropriate to trade these products at the fairs, thus making available part of the necessary precious metals. The paper will analyse the interconnection between fairs and the availability of precious metals as well as the consequences resulting from this. One famous example will be Leipzig, over which at first the trade with silver from Freiberg and later in the fifteenth and sixteenth centuries the Saigerhandel from the Erzgebirge was executed. In return, the trade with these mining products contributed to the gradual ascent of Leipzig’s large annual markets to international fairs.

Suggested Citation

  • Markus Denzel, 2019. "Exchange Rates and Silver Prices at European Fairs, Sixteenth to Eighteenth Centuries," Palgrave Studies in Economic History, in: Renate Pieper & Claudia de Lozanne Jefferies & Markus Denzel (ed.), Mining, Money and Markets in the Early Modern Atlantic, chapter 0, pages 349-362, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-030-23894-0_14
    DOI: 10.1007/978-3-030-23894-0_14
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