However, at some point, they had to start making their own coins. So, it was clear that the Vikings also had to adapt their trading system to other countries if they wanted to improve their economy.įor some time Vikings obtained coins only by raiding or trading with other nations. However, at that time, while the people of Scandinavia traded in barter goods or paid for them with unprocessed metals, most of the modern world was well acquainted with the use of metal coins for the purpose of paying for goods. If they wanted to pay something, they would simply tear off a part in a size that corresponds to the value of the goods. Why was "hack silver" a practical way to pay for goods a Viking wanted to obtain?īecause people could carry their silver " viking wallet" with them even as jewelry. This type of payment (tearing a piece of silver) was known as "hack silver" and was one of the most well-known and practical payment methods during the Viking Age.
For the purpose of payment, the silver was shaped into levers, or smaller pieces would be torn off of large silver objects, the size of which depended on the value of the goods being purchased. Gold was also used but only in rare cases. Silver was most often used because it was the most common precious metal among the Vikings. Initially, they used rare metals as a means of payment. The Norse men had to introduce additional value with which they could pay for goods in such situations. However, the Scandinavians quickly realized that this form of commerce could only function in small transactions and when traders had the goods required for an exchange.īut what if a trader does not have goods for barter and wants to make a purchase? It was clear. As was the case with many other countries, early medieval trade in Scandinavia was based on barter. In addition to being famous conquerors, the Nordic men were extremely respected and influential people in the world of trade. How Did the Vikings Trade Before Using Coins Crafted of Precious Metals? We will try to answer these and some other important questions about Viking commerce in as much detail as possible below. Our research topic in this article is trade, specifically money and transactions in the Viking Age.Īll of us who love Viking culture and history know that they adored jewelry and precious metals (especially silver and gold), but what was a trade like back in the day? What about the origin of the Viking money, and how has the development of the economy in Scandinavia evolved through history from an impersonal to a personal payment system? However, in this article, we will not go back to such a distant past and the very beginning of the use of money as a currency. Thousands of years ago, nations around the world engaged in trade, and for thousands of years, money, in various forms, has been used as a means of payment.
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