In Medieval England, the economy was vastly different than what we know today. At the time, the bartering system was prevalent, and what was used as currency was largely dependent on the region and the goods available. However, one form of currency that was commonly used for rental agreements was the silver penny.
During the medieval period, land ownership was of great importance, and the rental of land was a significant source of income for many individuals and communities. When it came to rental agreements, payment was often made in kind, with goods such as wheat, barley, and livestock exchanged for the use of the land.
However, the use of silver pennies as currency was also widespread. Silver pennies were first introduced to England by the Anglo-Saxons in the late 8th century and were used as currency throughout the medieval period. They were small, round coins made of silver, with a cross on one side and the name of the king on the other. Silver pennies were minted in large quantities and were widely used by people of all classes.
In rental agreements, the number of silver pennies paid would vary depending on the specifics of the agreement. For instance, the amount of land being rented, the length of the rental agreement, and the productivity of the land would all factor into the amount of silver pennies paid.
Silver pennies were also used to pay fines, taxes, and other forms of debt. They were a valuable form of currency and were often hoarded by individuals and communities as a way of preserving wealth.
In conclusion, while there were many forms of currency used throughout medieval England, silver pennies were a common form of payment for rental agreements. They were widely circulated, easily recognizable, and had a stable value, making them a popular choice for transactions of all kinds. As the economy evolved over time, so too did the forms of currency used, but the silver penny remains a significant part of England’s economic history.