Florentine gold florin

Timeline

1. 1252–1340Florence · TuscanyIn 1252 the Republic of Florence, built on wealth from the wool trade, struck the florin with highly stable gold content, making it one of Europe's first gold coins to circulate in about two centuries. Its stable fineness quickly won international credibility, widely adopted by Genoese and Venetian merchants and the French royal house, while England, Barcelona, and elsewhere began striking local imitations.
2. c. 1300–1380European trade network · EuropeIn the 14th century the florin became the de facto standard currency for European international trade settlement, with English wool exports, Levantine spice trade, and papal finances all accounted in florins. The default by England's Edward III on debts owed to the Florentine Bardi and Peruzzi banks in 1343–1346 triggered a financial crisis, but the florin's own monetary standing was not shaken, reflecting the solidity of its intrinsic metallic value.
3. 1451–1460Medici Bank headquarters (Florence) · TuscanyFrom 1451 to 1460 Cosimo de' Medici governed Florence, and the Medici Bank, with the florin as its core settlement currency, maintained branches in Bruges, London, Geneva, Lyon, and elsewhere, building Europe's first early modern transnational financial network through a credit system of bills of exchange (lettera di cambio). During this period the annual florin mintage was stable, and the coin became an important medium for Renaissance art patronage, diplomatic etiquette, and papal finances.