researches of Neri (in Argelatus, i. 157) the scheme of weights was—
| Denari. | Grani. | ||||
|---|---|---|---|---|---|
| Silver florin | = | ... | 38 | 23 | 26 |
| Lira (or 20 popolini) | = | 32 | 11 | 15 | 21 |
When it actually emerges, the gold florin has a weight of 53 (English) grs., or 72 Florentine; which would give a mark of 6912 grs. Its standard was of absolute fineness, 24 carats, a standard which was never departed from through the whole of its history. Very little change, too, was made in the weight, hardly more than 4 1⁄2 grs. in all (or 6 1⁄4 per cent.).
It was issued at an equivalence of 20 soldi, which were represented by 20 silver florins, already known.
The variation of this coin with regard to the unit coin of lower denomination will be found in the Table below.
There is a second variation of the gold florin, apparently with regard to itself, which has given rise to much misunderstanding, and requires explanation. As the process of wear and tear and abrasion went on in the coins, with lapse of time the custom grew of subdividing or hypothecating a gold florin of ideally perfect weight and condition as the standard for transactions. This became book or bank money, and the actually circulating medium was rated to it at a certain discount. This ideal florin is known as fiorini di suggello or sigillo, florin of the public seal, and there is a series of such denominations. The first apparent adoption of such a method—which also emerges in the currency history of Hamburg and Amsterdam—was in 1321, and the florins of that date are styled "of the first
sigello"; the second was in 1324, the third in 1345, and so on. Between the years 1328 and 1462 there was a series of eight, as follows:—
| 1328 | 5 | per cent. | advantage. |
| 1345 | 3 | " | " |
| 1347 | 5 | " | " |
| 1402 | 5 | " | " |
| 1402 | 1 1⁄4 | " | " |
| 1442 | 4 | " | " |
| 1461 | 7 | " | " |
Subsequently, by law of 30th May 1464, this various advantage was transferred from the fiorini di suggello to a new denomination, fiorini d'oro larghi, with an advantage of 20 per cent. above the fiorini di suggello; and once again, by the law of 14th October 1501, the process was repeated. An advantage of 19 per cent. over the fiorini d'oro larghi was announced in favour of the newest denomination, fiorini d'oro larghi in oro. The advantage of these last, therefore, over the fiorini di suggello of 1461 amounted to 39 per cent.
It appears quite clear that this advantage represents a differentiation, not of good bank abstract florins from worn current gold florins, but of the former from the actual current medium of payment, and that this latter was silver.