The transition between ‘receipt’ and legal tender was fraught with problems. The first bore nothing more than a picture depicting merchants, and a certain number of coins that corresponded with the amount represented. Printing up bogus copies would have been simple enough for anyone with a printing press. To be clear, in the days of the 7th century, printing presses were not exactly household items.
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June 20, 2011
Anatomy of the Banknote
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