Thehyperpyron(Greek:νόμισμα ὑπέρπυρονnómisma hypérpyron) was aByzantinecoin in use during thelate Middle Ages,replacing thesolidusas theByzantine Empire's standard gold coinage in the 11th century. It was introduced by emperorAlexios I Komnenos.
History
editThe traditional gold currency of the Byzantine Empire had been thesolidusornomisma,whose gold content had remained steady at 24caratsfor seven centuries and was consequently highly prized. From the 1030s, however, the coin was increasingly debased, until in the 1080s, following the military disasters and civil wars of the previous decade, its gold content was reduced to almost zero.[1]Consequently, in 1092, EmperorAlexios I Komnenos(r.1081–1118) undertook a drastic overhaul of theByzantine coinagesystem and introduced a new gold coin, thehyperpyron(meaning "super-refined" ). This was of the same standard weight (4.45grams) as thesolidus,but only 20.5 carat purity (0.854 fineness) instead of the standard 24 carat, resulting in a reduced gold content of only 4.1gramsinstead of 4.8 grams. The lower purity was due to melting down and inclusion of earlier debased coins.[2]
Thehyperpyronremained the standard gold coin until gold coins ceased to be minted by the Byzantines in the mid-14th century. It too, however, was subject to gradual debasement: under theEmpire of Nicaea(1204–1261), its gold content fell gradually to 18 carats, underMichael VIII Palaiologos(r.1259–1282) to 15 and under his son and successorAndronikos II Palaiologos(r.1282–1328) to 12 carats. At the same time, the quality of the coins declined as well, and in the 14th century, their weight was far from uniform.[3]The lasthyperpyra,and thus the last Byzantine gold coins, were struck by EmperorJohn VI Kantakouzenos(r.1347–1352). The name remained in use thereafter solely as amoney of account,divided into 24keratia.[4]
The name was adopted in various forms by Western Europeans (Latin:perperum,Italian:perpero) and theSlaviccountries of theBalkans(perper,iperpero,etc.) designating various coins, usuallysilver,as well as moneys of account.[5]More often in the West thehyperpyronwas called thebezant,especially among Italian merchants.
In the earlyKomnenian period,thehyperpyronwas the equivalent of threeelectrumtrachea,48billontracheaor 864coppertetartera,although with the debasement of thetracheait eventually came to rate 12 electrumtracheaand 288 to 384 billontrachea.[6]In the 14th century, thehyperpyronequalled 12 of the new silverbasilika,96tournesia,384 coppertracheaand 768 copperassaria.[7]
See also
edit
Citations
edit- ^Grierson 1999,p. 10.
- ^Grierson 1999,p. 11;Kazhdan 1991,p. 964.
- ^Grierson 1999,pp. 11–12.
- ^Grierson 1999,p. 12;Kazhdan 1991,pp. 964–965.
- ^Kazhdan 1991,p. 965.
- ^Grierson 1999,p. 44.
- ^Grierson 1999,p. 45.
General and cited sources
edit- Grierson, Philip (1999).Byzantine Coinage.Washington, DC: Dumbarton Oaks.ISBN978-0-88402-274-9.Archived fromthe originalon 2013-12-14.
- Kazhdan, Alexander,ed. (1991).The Oxford Dictionary of Byzantium.New York and Oxford: Oxford University Press.ISBN978-0-19-504652-6.
Further reading
edit- Grierson, Philip (1982).Byzantine Coins.London: Methuen.ISBN978-0-416-71360-2.
- Hendy, Michael F. (1989).The Economy, Fiscal Administration and Coinage of Byzantium.London: Variorum Reprints.ISBN0-86078-253-0.
- Hendy, Michael F. (1985).Studies in the Byzantine Monetary Economy c. 300–1450.Cambridge: Cambridge University Press.ISBN0-521-24715-2.
External links
edit
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