Barry Eichengreen: The end of the Dollar Empire is no longer unthinkable—think of Roman coins
Reflecting this authority, the silver content of the denarius remained stable in both weight and purity for 300 years. Uniform coinage meant that merchants, when accepting payment, knew what they were getting. It allowed them to make payment without requiring physical movement of heavy and valuable coins or bullion. And, because coins could be provided in one place against sales and receipts in another, thereby avoiding the costs and risks of transporting precious metal, currency began to shade into credit, anticipating the development of modern financial markets.
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