Introduction During the last ten years or so there have been some discussions about an Ottoman copper coin with an enigmatic legend, as to whether this represents the coin's denomination or the name of its mint. The coin concerned is known from perhaps half a dozen specimens present in a few collections. It shows distinct similarities with 16th - 17th century (10th - 11th century AH) Ottoman copper coins from the Yemen and is therefore thought to originate from that part of the world. As it is unknown for any pre-19th century Ottoman coin to have its denomination or value shown as part of its inscription, it may be safely assumed that the inscription on this particular coin represents its mint name, and not its denomination. Having said that, this then leaves us with the identification of the mint name of these coins.
The Coin The legend in Arabic script on the coin's obverse from the top downwards shows the usual dhuriba (it was struck), where the letter ba forms a horizontally drawn-out line below the letters dha and ra; (dha is used to decribe the Arabic letter that is normally transcribed by a d with a dot below it, which I cannot do in my computer) below this horizontal line of the letter ba there are the naturally unconnected letters: dal-wau-alif-ra-ya; below these letters is the word sanah (year) again in a horizontally drawn-out line, below which there is the year 974, the year of Sultan Selim II's accession.
The coin's reverse shows a hexagram of two superimposed triangles with dots and accents, very similar to the reverse of the large Ottoman copper coins from Malhaz in the Yemen which, incidentally, show the same year.1) Thus the coins under discussion look like a fraction of the Malhaz coin. See illustrations Fig. 1-5.
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19 Temmuz 2007 Perşembe
Devarya, an unknown Ottoman Mint in Eritrea
The Gurush: A New Ottoman Monetary Unit in the Eighteenth Century
The seventeenth century had been a period of instability for the Ottoman currency culminating around the middle of the century in the closure of Ottoman mints, the cessation of the production of silver akches and their use as a means of exchange. The decline of the akche posed serious challenges to the Ottoman administration. Without control over the currency, its control over the economy diminished considerably. Moreover, the disintegration of the monetary system and the increasing reliance on foreign coins had serious political implications. During the second half of the seventeenth century the government thus made numerous attempts at establishing a new currency but these proved to be unsuccessful due to the continuation of wars and fiscal difficulties. After a long interval of inactivity, the mint in Istanbul resumed operations in 1685, producing the small akches and the copper mangir beginning in 1689. Supported by the revenues from this experiment, the government then renewed its efforts to establish a new system around a large silver unit modelled after the European coins circulating in the Ottoman markets since the middle of the sixteenth century. The new Ottoman gurush was then fixed at 120 akches or 40 paras. The early gurushes weighed six and a quarter dirhams (20.0 grams) and contained close to 60 percent silver. The zolotas were valued at three fourths of the gurush or at 90 akches. The fractions of both the gurush and zolota were then minted accordingly.[3] Due to wars and continuing political turmoil, however, many coins were minted with sub-standard silver content until the monetary reform of 1715-16. The appearance of sub-standard coinage attracted large numbers of counterfeiters until the 1720s. By the 1720s a full spectrum of silver coinage had emerged from the gurush down to the para and the tiny akche. While the gurush, zolota and the 20 para piece were used for medium and larger transactions, 1, 5 and 10 para pieces served as petty coinage. By this time, the purchasing power of the akche, valued at one-third of the para, had become too small for most daily purposes.[4] For this reason, the para, more than the akche, served as the basic unit of account for small transactions. In addition, some copper coinage were minted in Istanbul and eastern Anatolia but their volumes were limited. As for gold coins, the Ottoman sultani, or sherifi as it was also called, which had remained close to the standards of the Venetian ducat since the fifteenth century was discontinued late in the seventeenth century. In the early part of the eighteenth century, as gold made a comeback in Europe and elsewhere, Ottoman minting activity also resumed. In the place of the sultani, a number of new gold coins called tughrali, cedid Istanbul, zincirli, findik and zer-i mahbub were initiated between 1697 and 1728. All but the last of these started close to the standards of the ducat. Following the practice dating back to the fifteenth century, the government did not attach a fixed face value to these gold coins. Their exchange rates were determined by the markets. In payments to the state, gold coins were accepted at the official rates of exchange. The eighteenth century until the 1780s was a period of commercial and economic expansion coupled with fiscal stability in most parts of the Ottoman Empire. These favorable conditions as well as the rising supplies of silver helped establish the gurush as the leading unit of account and means of exchange by the middle of the eighteenth century. The emergence of the new unit was accompanied by centralization of mint activity in the core regions of the empire, from the Balkans to Anatolia, as well as Syria and Iraq.
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