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ducat
The ducat was a gold or silver coin used as a trade coin in Europe from the later medieval centuries until as late as the 20th century. Many types of ducats had various metallic content and purchasing power throughout the period. The gold ducat of Venice gained wide international acceptance, like the medieval Byzantine hyperpyron and the Florentine florin, or the modern British pound sterling and the United States dollar.〔The two concepts of money: implications for the analysis of optimal currency areas, Charles A. E. Goodhart, European Journal of Political Economy, Vol 14(1986) page 407〕 ==Early ducats==
The word ''ducat'' is from Medieval Latin ''ducatus'' = "relating to a duke (or dukedom)", and initially meant "duke's coin" or a "duchy's coin".〔Online Etymology Dictionary http://www.etymonline.com/index.php?search=ducat〕 The first issue of this type of coin is thought to have been under king Roger II of Sicily, who was also the Duke of Apulia and who, in 1140, coined ducats bearing the figure of Christ〔Byzantine Coins, Philip Grierson, page 12〕 and the inscription, ''Sit tibi, Christe, datus, quem tu regis iste ducatus'' meaning "O Christ, let this duchy, which you rule, be dedicated to you."〔American Journal of Numismatics, Volumes 50,page 72〕 Doge Enrico Dandolo of Venice, whose title means duke, introduced a silver ducat whose types are related to the ducats of Roger II. Later gold ducats of Venice, however, became so important that the name ducat was associated exclusively with them and the silver coins came to be called grossi.〔Coins In History, John Porteous, pages 84 and 86.〕
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