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Silver production and the money supply in England and Wales, 1086–c.1500

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  • MARTIN ALLEN
Abstract
The contribution of English and Welsh lead mines to the silver supplies of mints between Domesday Book and the end of the fifteenth century is assessed in this article, comparing evidence for the size of silver production with mint output data. It is shown that the proposal that northern Pennine mines were the principal source of the silver in the late twelfth-century English currency is untenable. Welsh mines supplied limited amounts of silver to local mints around 1200. Devon silver made a significant but not predominant contribution to mint output at times of bullion scarcity in the 1290s and the mid‐fifteenth century. Imported silver was usually a greater source of the metal in the English currency than locally mined silver, and gold coins constituted most of England's money supply from the mid‐fourteenth century onwards.

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  • Martin Allen, 2011. "Silver production and the money supply in England and Wales, 1086–c.1500," Economic History Review, Economic History Society, vol. 64(1), pages 114-131, February.
    • Handle: RePEc:bla:ehsrev:v:64:y:2011:i:1:p:114-131
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    File URL: http://hdl.handle.net/10.1111/j.1468-0289.2010.00552.x
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    References listed on IDEAS

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    1. Hatcher, John & Bailey, Mark, 2001. "Modelling the Middle Ages: The History and Theory of England's Economic Development," OUP Catalogue, Oxford University Press, number 9780199244126.
    2. Pamela Nightingale, 1990. "Monetary contraction and mercantile credit in later medieval England," Economic History Review, Economic History Society, vol. 43(4), pages 560-575, November.
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    Cited by:

    1. Nuno Palma, 2016. "Reconstruction of annual money supply over the long run: The case of England, 1279-1870," Working Papers 0094, European Historical Economics Society (EHES).
    2. Anthony Edo & Jacques Melitz, 2023. "Wealth and shifting demand pressures on the price level in England after the Black Death," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliométrie), vol. 17(1), pages 91-124, January.
    3. Nuno Palma, 2018. "Reconstruction of money supply over the long run: the case of England, 1270–1870," Economic History Review, Economic History Society, vol. 71(2), pages 373-392, May.

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