What did Vikings call their money? Unpacking Viking Wealth and Exchange
The question of "What did Vikings call their money?" is more complex than a simple answer. Unlike modern societies with standardized coinage, the Vikings, a seafaring and trading people from Scandinavia who flourished from the late 8th to the mid-11th centuries, had a more fluid and varied system of exchange. Their "money" wasn't a single, universally recognized term or coin. Instead, they relied on a combination of precious metals, bartering, and, later, early forms of coinage. Understanding Viking wealth requires looking beyond the concept of minted currency.
The Primary Form of Viking "Money": Precious Metals
For much of the Viking Age, the most common way Vikings measured and exchanged value was through precious metals, primarily silver and gold. These metals weren't usually in the form of coins at first. Instead, they existed as:
- Ingots: These were blocks or bars of silver or gold, often roughly shaped.
- Jewelry: Elaborate silver and gold arm rings, necklaces, and brooches were highly valued and could be cut up or melted down to create smaller denominations. These were not just adornments but also a form of portable wealth.
- Coins (later in the period): While not their primary method of exchange for most of the Viking Age, Vikings did come into contact with and utilize coins from other cultures, such as Arab dirhams and Byzantine solidi. As the Viking Age progressed, they also began to mint their own coins, particularly in areas under their direct control like England (Danelaw) and some parts of Scandinavia.
When Vikings referred to wealth or the act of paying, they often used terms that alluded to silver or gold. For instance, the Old Norse word "fè" could refer to cattle or movable property, but it also evolved to encompass wealth in general, including precious metals. The concept of "peningar" emerged later, with roots in Germanic languages, and is often considered the precursor to our modern word for "money," but its early usage was broader and could refer to portable goods or valuable items.
The Importance of Weighing
Because Viking wealth was largely based on unminted precious metals, weighing was an absolutely crucial aspect of any transaction. A merchant or trader would have a set of portable scales and carefully measured weights to ensure fair exchange. The value of a silver arm ring, for example, would be determined by its weight, not by any standardized denomination.
"The Vikings were sophisticated traders, and their wealth was measured by weight, not by count. A silver hoard found in a Viking burial site often contains cut-up arm rings and coins, all of which would have been weighed before being accepted as payment or stored."
Bartering and Goods as Currency
Before the widespread adoption of precious metals as a medium of exchange, and even alongside it, bartering was a fundamental part of Viking economic life. This involved the direct exchange of goods and services. Common items used in bartering included:
- Livestock (cattle, sheep, pigs)
- Grain and other foodstuffs
- Tools and weapons
- Furs and other trade goods
- Slaves
While not "money" in the modern sense, these tangible goods held value and were traded based on perceived need and supply.
The Evolution of Viking Coinage
As Viking influence and trade networks expanded, they encountered cultures with established coinage. This led to the import and use of foreign coins. However, these foreign coins were often valued by their metal content and weight rather than their face value. Eventually, Vikings began to mint their own coins, influenced by the designs and standards of the cultures they interacted with. Early Viking coins often featured:
- Designs inspired by foreign coinage (e.g., Arab Kufic script on some coins).
- Images of rulers or symbols of power.
- The inscription of their own names or titles.
The development of Viking coinage was a gradual process, and for a significant portion of the Viking Age, bartering and the exchange of weighed silver and gold remained dominant.
FAQ Section
How did Vikings measure the value of their silver?
Vikings primarily measured the value of their silver by weight. They used portable scales and calibrated weights to ensure that any amount of silver exchanged was equivalent in value. Silver ingots, fragments of arm rings, and coins were all weighed before being accepted as payment.
Why didn't Vikings use coins from the beginning of their era?
The widespread adoption of coinage was a gradual process across many cultures. For much of the early Viking Age, their trade and wealth systems were based on established traditions of bartering and the use of precious metals in their raw or crafted forms. The concept of standardized, government-issued currency took time to develop and be integrated into their society. They were more accustomed to handling bulk silver and gold that they could verify themselves through weighing.
What is the Old Norse word for money or wealth?
The Old Norse word "fè" originally referred to cattle and movable property, but it evolved to encompass wealth in a broader sense, including precious metals. The term "peningar", which is related to our modern word "money," also emerged and could refer to valuable portable goods or wealth, though its usage evolved over time.
Were Viking coins always made of silver?
While silver was by far the most common metal used for Viking coinage and general wealth, gold was also highly prized and used, particularly for larger transactions or as high-status adornments. However, the vast majority of Viking coins discovered and circulated were made of silver.
