November 29, 2007
Gold coin collecting
Prior to becoming King of England, Edward III managed to arrange a trade agreement with the people of Flanders. But the problem with this agreement was that the Flanders used a gold backed currency whilst in England we were using a silver backed one. But because there was such a great divide in the value of the respective currencies many of the merchants were unhappy with the agreement that had been made. Therefore it was this that helped King Edward III to make a decision to have gold coin collecting minted and introduced in England and therefore make the exchanges taking place between the various merchants in England and Flanders much more equal.