Coinage and Money of Account

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Richard II and the English Royal Treasure: Inventory. Originally published by Boydell & Brewer, Woodbridge, 2012.

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The valuations in the inventory are expressed as money of account. This system was used for convenience in accounting during the later Middle Ages. There were no coins equivalent to a shilling, a mark (13s. 4d.), or a pound. The most valuable coin in circulation in England in Richard II's reign was the gold noble worth 6s. 8d. Coins were used in actual payments, although this was only one method of settlement.

Gold coins of Portugal are listed in one entry (R 438); four were deemed to be worth 10s. (2s. 6d. each). These were half-dobras of Fernando 1 (1367–83), see Pl. 15. No gold coins were minted in the next reign.

Money of account

240d. (pence, denarii, deniers) = 20s. (shillings, solidi, sous) = 1 li. (pound, libra, livre)

ob. (obole) = ½ d.