European Federation Currency
In 1981, several Western European countries met at Brussels for the first time regarding the multiple currencies in use in Europe and how they were affecting trade and the economies of all European countries. This first Congress resolved to make silver the standard metal for use within European currencies. This cooperative effort led to the Unified Currency Convention in 1988; which was dedicated to forming a unified currency for Europe, along the lines of the old Latin Monetary Union, but including more countries. The Convention discussed a wide range of issues concerning banking systems, exchange rates and economic factors in individual countries.
By 1994, the principal countries had agreed upon the basic issues and in 1996 the European Federation currency plan was made effective. All the old national currencies were withdrawn and replaced with EF money at a predetermined exchange rate. Prior to this time, each country set its own traditional value for its currency units. The following chart serves to concisely note the relative values of the various pre-EF currencies as a fraction of an ounce of pure silver, not including any alloy.
|Iberia||8 reales / peso||.7859oz|
|Helvetia||thaler||(6 Fr. livres)|
While the Federated Kingdoms and the Scandinavian Realm were invited to send ministers to the Convention, the FK has not as of yet made plans to adopt the European pound as its currency. The SR opted to continue with their own local Scandinavian Currency Union, with the rigsdaler as its chief unit.
Xliponia continues using the xlipo, fixed at 0.85 FK pounds (17 shillings), "due to political reasons" (mainly a matter of tradition) and for an as-yet indefinite period.
For the most part, the EF Central Bank has stipulated that the following coins denominations are to be considered "typical": ½, 1, 3, 6 pence; 1, 5 and 10 shillings; 1 pound. Notes are 1, 5, 10, 20, 100 and 200 pounds. Some countries are producing odd denominations, such as Castile and Leon's 3 escudo note.
All denominations are equal in value
|1 livre||= 20 sous||= 240 deniers||Northern France, Monaco, Saugeais|
|1 livre||= 20 soles||= 240 denares||Southern France|
|1 lliura||= 20 sous||= 240 diners||Andorra|
|1 crona||= 20 soedi||= 240 pfeinges||Kingdom of Jervaine|
|1 lira||= 20 soldi||= 240 denari||Italy, The Holy See, San Marino, Order of Malta|
|1 piastra||= 20 soldi||= 240 tornesi||Kingdom of the Two Sicilies (Southern Italy)|
|1 escudo||= 20 sols||= 240 denars||Kingdom of Aragon)|
|1 escudo||= 20 pesetas||= 240 denarios||Kingdom of Castile and Leon|
(see Castilian Currency for more info)
|1 Convention Thaler||= 20 Neuegroschen||= 240 Pfennige||Northern Germany|
(except Holstein, Hamburg, Lübeck, & Mecklenburg)
|1 Convention Thaler||= 20 Kreuzer||= 240 Pfennige||Southern Germany|
|1 Rijksdaalder||= 20 gulden||= 240 stuivers||Batavian_Kingdom|
|1 lür||= 20 sölden||= 240 denären||Helvetia|
|1 króna||= 20 krojcärni||= 240 helärni||Bohemia|
|1 mina||= 20 drachmae||= 240 lepta||Monastic Republic|
Standard traite: 6 livres, etc. to the mark of pure silver (or 1 livre, etc. = 640 gr silver)
Tailles of currently minted coins:
- Main coins (to standard):
- 1 livre, etc.: minted in gold, taille depends on the current gold price in silver
- ½ livre, etc. = 10 sous, etc.: 101/2 pieces to the mark of 21 suc silver
- ¼ livre, etc. = 5 sous, etc.: 21 pieces to the mark of 21 suc silver
- Minor coins (not to standard -- not obligatory for large payments):
- 1 sous, etc.: 66 pieces to the mark of 12 suc silver
- 3 deniers, etc.: 134 pieces to the mark of 6 suc silver
- 1 denier, etc.: 40 pieces to the mark of standard bronze (22¾ suc copper, 1 suc tin, ¼ suc zinc)
- ¼ denier, etc.: 80 pieces to the mark of standard bronze (22¾ suc copper, 1 suc tin, ¼ suc zinc)