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Evaluation of the Present Value of Ancient Coins

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  • Mehdizadeh , Jafar

    (Economic Research and Policy Department, Central Bank of the Islamic Republic of Iran)

Abstract

Many of the pious bequest policies (Vaghf) at present time are denominated by old or ancient coins, the present value of which is not well known. Therefore, fixing the annual custodian fee for Vaghf is quite difficult. Moreover, the difficulty of evaluation of the present value of the dowry the husband has to pay to the bride after the marriage (Mahr) has created lots of difficulties for Ministry of Justice. Regarding the methods of minting coins in the past which were not centralized and the coins were "hammer hardened", they were of different value, different weight and even different names and place of issue. This variety makes the evaluation of the ancient coins very sophisticated. In addition, the evaluation of the present value of the ancient coins which were themselves mediums of measuring the value of other goods is rather a difficult task. For this reason, the correct method of evaluating the present value of these coins is to recognize first the characteristics of these coins, and then selecting the best method of evaluating its present value as considered in this research.

Suggested Citation

  • Mehdizadeh , Jafar, 2009. "Evaluation of the Present Value of Ancient Coins," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 5(2), pages 103-128, April.
    • Handle: RePEc:mbr:jmonec:v:5:y:2009:i:2:p:103-128
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