Difference between revisions of "Praetonian Crown"
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== Sovereigns == | == Sovereigns == | ||
| − | {{Image|http://img.photobucket.com/albums/v387/Praetonia/PraefeliSovereign.jpg |right|Trein| | + | {{Image|http://img.photobucket.com/albums/v387/Praetonia/PraefeliSovereign.jpg |right|Trein|A gold Praetonian Sovereign.}} |
| − | The [[Imperial Bank of Praetonia|Imperial Bank]] still issues Gold Sovereigns which currently weigh precisely 1/2 of a [[wikipedia:Troy ounce|Troy ounce]] and have a purity of 99.99%. These coins have no fixed value, that being defined entirely by the worth of the gold and in some cases the rarity value of the older coins. A new coin is issued each year, each with its own obverse motiff; all Gold Sovereigns have an engraving of the reigning [[wikipedia:monarch|Monarch]] on the reverse, along with the Royal motto encircling the edge of the coin. Sovereigns are popular with collectors and those who wish to use gold as an investment, but they have fallen out of general use as a currency as their precise value is ill defined, even to the Praefeli, and almost no businesses except for banks will accept them. | + | The [[Imperial Bank of Praetonia|Imperial Bank]] still issues Gold Sovereigns which currently weigh precisely 1/2 of a [[wikipedia:Troy ounce|Troy ounce]] and have a purity of 99.99%. These coins have no fixed value, that being defined entirely by the worth of the gold and in some cases the rarity value of the older coins. A new coin is issued each year, each with its own obverse motiff; all Gold Sovereigns have an engraving of the reigning [[wikipedia:monarch|Monarch]] on the reverse, along with the Royal motto encircling the edge of the coin. Sovereigns are popular with collectors and those who wish to use gold as an investment, but they have fallen out of general use as a currency as their precise value is ill defined, even to the Praefeli, and almost no businesses except for banks will accept them. |
== See Also == | == See Also == | ||
Revision as of 09:44, 18 February 2006
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| Subdivision | 1 Praefeli = 20 Shillings (S) = 5 Denarii (d)
1 Praefeli = 100 Bits (b) |
| Exchange Rate to USD |  1.00 : US$1.96
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| In use since | 1761 |
| Currency Code | IPP |
| Symbol |
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The Praefeli is the official currency of Praetonia, not to be confused with Praefele which is a major port city. It is nominally administered by the Imperial Bank of Praetonia, a private company, under Royal Charter which can be withdrawn at any time, officially by the King but in reality by the treasury. The Praefeli is a free-floating currency and highly successful on the world currency market, attaining a value of ~$2.00 accounting for fluctuations.
Contents
History
The Praefeli was first established as a new currency for the New Monarchy following the Second Civil War, replacing the anarchic collection of various Greco-Roman currencies which previously served as legal tender for Praetonia. The currency was originally based on a fiat system determined by the then government-control Imperial Bank of Praetonia, before switching to the gold standard in 1821. In 1972 the Praefeli was transferred to a free-floating foreign exchanged based valuation system and has remained so ever since. Paper money was first introduced in the early 19th century.
The Bit System
The Bit system was introduced in 1927 as a means of simpliying foreign transfers of currency as well as simplifying stock exchange share price listings, which are historically listed in subdivisions rather than full units of currency. The Bit is rarely used in Praetonian general society, and retailers are not obligued to accept Bits as legal tender, although banks are and must agree to transfer Bits into their equivalent value in Praefelis, Shillings and Denarii. They are, however, used almost solely in business circles and all kinds of transactions which involve interacting with foreign currencies, almost none of which operate a similar system to the Shilling-Denarii subdivisions.
Sovereigns
The Imperial Bank still issues Gold Sovereigns which currently weigh precisely 1/2 of a Troy ounce and have a purity of 99.99%. These coins have no fixed value, that being defined entirely by the worth of the gold and in some cases the rarity value of the older coins. A new coin is issued each year, each with its own obverse motiff; all Gold Sovereigns have an engraving of the reigning Monarch on the reverse, along with the Royal motto encircling the edge of the coin. Sovereigns are popular with collectors and those who wish to use gold as an investment, but they have fallen out of general use as a currency as their precise value is ill defined, even to the Praefeli, and almost no businesses except for banks will accept them.
