by Sevrin de Savage [Aaron D. McClelland]

Monetary System of Florence
Florence, in the 13th through the 15th century employed two parallel monetary systems; The Gold system which was based on the Florin and the Silver system based on the Lire. Depending on the availability of coinage in circulation, pepper and saffron were also used as a trading commodity. The actual availability of coinage could be affected by harvests, fairs, ship sailings, and large expenditures by nobles and businessmen.

The Gold System
When the Florin was first issued in 1252, it weighed 72 grains and was 24 carats fine. On one side it bore a likeness of Saint John the Baptist and the Lily of Florence on the other. It became the standard gold coin used in Europe. Through the years the weight of the Florin was often debased by foreign mints, forcing Florence to issue new coins periodically with higher weights and content.

In 1450, a new Florin was issued to reestablish the Florin as the standard of gold coin in Europe.

One Florin	=	20 Soldi a Oro
	=	240 Denari a Oro

In Florence the Florin Gold standard was used for large contracts and trade. Wages and common daily expenses where paid using the silver system. To maintain the strength of the Florin and to prevent ‘shaving’, the Florentine mint would issue specially sealed small leather bags with specific numbers of Florins within. Very high penalties were assessed on anyone altering the sealed bags or contents.

The Silver System
The silver system in Florence was based on the Lire. Though the value of the silver Lire would depend on the European value of the gold Florin, in 1480 one Florin was approximately worth four silver Lire, or 80 silver Soldi.

One Lire	=	20 Soldi
	=	240 Denari (or Piccioli)

Wages, Costs & Rents
Through fluctuations in the world economy, wages and costs of commodities and rent would fluctuate, below is a ‘snapshot’ of wages, costs, and rents of the later Quattrocento in Florence.

Salaries and Wages
Actor	17 Denari	per show
Carder	10 Soldi	per load (salma) of wool carded
Civil servant, major	300 Lire	per year
Civil servant, minor	70 Lire	per year
Domestic servants	1 Lire	per year & board
Factor	115 Lire	per year
Instructor, civil law	440 Florin	per year
Instructor, rhet & poetry	350 Florin	per year
Instructor, medicine	300 Florin	per year
Instructor, phil. & morals	70 Florin	per year
Instructor, logic	20 Florin	per year
Maidservant	10 Florin	per year
Laborer, skilled master	1 Lire	per day
Laborer, skilled	2 Soldi	per day
Laborer, semiskilled	10 Denari	per day
Laborer, unskilled	7 Denari	per day
Weaver (journeyman)	2 Soldi	per day
Services
Bake another's grain	2-4 Denari	per loaf
Bleeding	15 Soldi
Bone setting	1 Lire
Carding	10 Soldi	per load (salma) of wool
Changing currency	10%	of amount charged
Copying	4 Soldi	per page
Laundress	1 Soldi	per load
Marine insurance	5%	of amount to be insured
Painting	35 Florin	(Sandro Botticelli)
Physician consultation	10 Lire
Tooth extraction	5 Lire
Sculpture, Palazzo della	3,000. Florin	(Leonardo da Vinci)
Real Estate (country and village)
Cottage, small	2 Lire	per year rent
Farm & vineyards	750 Lire	purchase
Farm (average)	380 Lire	purchase
Farm (poor)	160 Lire	purchase
House, large	20-50 Lire	per year rent
House & shop	36-42 Lire	per year rent
Real Estate (within Florence)
Palazzo	1000 Florin	purchase
Shop	42 Florin	per year rent
Shop near Orsanmichele	118 Florin	per year rent
Shop on P. della Signoria	27 Florin	per year rent
Goods
Book of laws	40 Florin
Slave	50 Florin
Mule	10 Florin
Butter	7 Denari	per pound
Capon	6 Denari
Eggs	8 Denari	per dozen
Egg, roasted	1 Denari
Finch, roasted	1 Denari
Grain	2 Lire	3 bushels
Pheasant, roasted	13 Denari
Meat pie w/ roast capon	8 Denari
Meat pie w/ roast hen	5 Denari
Olive Oil	18 Denari	per jar
Wheat	2 Soldi	1 bushel
Wool	3 Florin	1 bale
Fines
Insulting gesture	20 Soldi
Insulting words	20 Soldi
Push to ground	100 Soldi
Threat with knife	40 Soldi
Throwing stones	3 Lire
Breaking tooth	10 Lire
Dung in mouth	25 Lire
Disturbing the peace	1,000 Lire
Garbage in public	20 Soldi
Offal in public	40 Soldi

The Necessities
Prices of an essential basket of agricultural and industrial products and rent in Florence 1480 for a typical household ...

Goods	Quantity	Florentine Lire
	(kg. per year)
Wheat	50	2.5
Minor cereals	170	4.9
Meat	10	4.2
Wine	80	5.6
Olive oil	3	1.7
Firewood	365	1.1
Textiles		3.5
Housing		2.8
Total		26.3