Abstract
The paper analyzes the features of emission and circulation of pre-Modern Iranian copper coins, commonly known as fulūs. Such features were provided by the factors of the use of base metal in minting, as well as the status of their issuer. A specifi c feature of the Iranian copper coins’ right of coinage was the transfer of it from the ruler of the state to the regional ruler (walī, beglerbeg or khān), who issued it on the basis of the right of haqq al-ẓarb (jus cudendæ monetæ, “right to struck”), and not on the basis of the right of al-sikka (jus monetæ, “the right to own signatured dies,” as Shah did). This led to the anonymity of the coin, and also caused the locality of the zone of its circulation. Another feature of the circulation of fulūs was their short duration – they were usually discounted after issuing coins of the following type, which was traditionally made in the Iranian New Year (Nowruz). Analysis of the topography of single fi nds confi rms the locality of the circulation of the fulūs, and the analysis of the hoards indicates the simultaneous circulation of the coins of several years before the tpq of hoard. This fact indicates the chronological extension of the process of retiring the old coin from circulation after the coinage of the fulūs of the new year, when the old coins retained their validity (rā’ij) and continued to be considered as money. The revealed features of copper coins indicate the presence in the pre-Modern Iran of two types of currency zones – national (with gold and silver coins) and regionals (with gold, silver and copper coins). The practice of frequently changing the types of copper coins was fueled by a signifi cant revaluation of these per se “Freigeld,” which had a limited circulation period and a de facto negative annual rate. Despite the short-term and territorial limitations of fulūs’ circulation, the state guaranteed the exchange of fulūs for silver coins, but only within the region and the time of their circulation (such territorial-temporal characteristics were called in Perisa as ‘adl “legal” or, later, ra’ij “current”).
Keywords
Copper coins, fulus, accounting units, coin seigneur, Münzregal, currency zone, right of coinage, South Caucasus, Iran
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