The feudal coins are an important part of medieval numismatics, although they do not cover the entire period of the Middle Ages, as it is considered that this period range from the fifth to the fifteenth century, and as the French feudal coins were issued from XI to the XV century, when feudalism developed, reached its peak, and then gradually turned off.

This whole period was characterized, until the advent of the mechanization of the knocks on the Renaissance, by a strike craft: each piece is stamped by hand and is therefore unique. A very characteristic of this time is the care of the population about the metal value of coins - linked to the precious metal which they were made - rather than their facial value only.

Feudality

One cannot study feudal currencies without studying the historical context of the time, including feudalism itself. Feudalism is primarily characterized by a weak central political authority. Political power, linked to land ownership, is fragmented into many units nested in each other. Typically, these principalities - roughly similar to our existing regions - are fragmented into many fiefdoms, possession of land granted by a suzerain to his vassal, which owes back support and tribute. There may be many relationships within the principality, with some reciprocal relationships - nobles are both lords and vassals of one another. Thus, from the king to the vavasseurs - vassals of vassals - there may be five hierarchical degrees :

* King

* The Duke

* The Barons

* The Lords

* The Vavasseur

This extreme fragmentation was set up in response to pressure from Vikings and Saracens raids, lootings raids playing on mobility and made unnecessary a powerful centralized royal army. Therefore, the defense was done locally and thus the warriors able to protect the surrounding population, helped by theirs castles, gained a lot of political and financial power, and they were a lot more concretes than a distant and helpless king.

Emergence of the Bourgeoisie

From the thirteenth century, the development of cities leads to the emergence of a new class, in addition to the three medieval orders - warriors, priests and peasants, the bourgeoisie, focusing on crafts and trade. The Capetian not having enough administration, and wishing to restrict the power of feudal fiefs, granted many rights and privileges to cities that were becoming real sources of political and financial power, and can print money.

Impact of feudality on coins

* Apogee of feudalism

This highly fragmented political power has led to fragmentation of the right to print money. From the Xth to the XIIth century, many lords are sharing it, as well as some church authorities - including abbeys - and cities.

During this period, the main currency is the denarius, containing a quantity of silver which varies depending on location and time, itself divided into meshes oboles poor in precious metals. On the one place to another, these funds have different weights, ranging generally from 1 to 1.5 grams, and their value is not the same.

So the coins of the feudal period are characterized by a great diversity and a very variable quality. Some lords also allowed themselves the right to fly the currency, adding more and more confusion. However, the pieces are relatively stable over time, as the lords do not wish to make changes too abrupt and too visible.

Generally, almost each city, principality and many fiefs made their own currency, with roughly the sale models but with different values and weight. This era was the golden age of changers.

* Decline of feudalism

From the thirteenth century and the arrival of Philippe Auguste to the throne, the royal power gradually strengthened its authority, extending its territory and controlling more precisely the seigniorial currencies. From the advent of Philippe Auguste (1180) to the end of the reign of Philippe le Bel (1314), the use of currencies seigniorial decreases significantly, while the currencies royales replace them, aided by laws enacted in this way, and while the royal domain widens further. Most seigniorial, church or bourgeois currencies extinguished at that time. The last local coins cease to be made in the first half of the XIV century.

In addition, the centralization of money around the denarius stops from 1263, when St. Louis brought the gros tournoi on his return from crusade.

These coins were made of silver, weighed about 4 grams and worth 12 denarius. Philippe le Bel develops a complex monetary system, using many different coins in gold, silver or billion, that will be used throughout the fourteenth century.

The Hundred Years War weakened the royal power, which sometimes had to devalue its currency, but this does not permit the local currency to regain their old force. At the end of the war, the royal power is greatly enhanced by the expulsion of English from France, and King Louis XI has a near monopoly on the minting of money, despite some notable exceptions. The era of feudal coins is over.