Connect with us


The History Behind Five Discontinued Currencies

It’s easy to take the things we use in everyday life for granted, such as the currencies we use. However, many currencies have evolved over the years due to changing country boundaries, war or volatile economic conditions. In fact a discontinued currency is as common as those that stood the test of time. History provides us with some interesting stories of why certain currencies became extinct, and we have outlined five of these below:


The Zionist Congress, held in Basle on August 1897, was one of the most landmark events for Jewish people in the nineteenth century. It resulted in the formation of the Shekel currency and the creation of the World Zionist Organisation, which influenced the origin of the State of Israel. The Shekel had a political and moral value, as well as a monetary value. In 1925 it was unified with other newly introduced currencies, such as the Country and the Mizrahi Shekel, and was thus discontinued as an individual currency. Even though the Shekel is a discontinued currency, it is still the emblem of the Zionist democracy.


The Ducat, also known as the Dukat, was a gold coin used in Europe for trading before WWI. It was originally issued by Roger II in Sicily in 1140, and was approved by the royal family in 1556. The currency was discontinued in 1857, and at the time had a value of around $2.


The first Groat was produced in England during the Middle Ages during the reign of Edward I. The Groat was a thick silver coin and originally weighed 89 grains of wheat. The currency was later reissued in 1351 by Edward III, and weighed 72 grains. The next change came 150 years later when the fineness of the coin increased. The last reissue was made in 1561, but after the sixpenny piece was introduced the currency was discontinued.


China was the first country in the world to issue a paper currency. The Jiaozi dates back to 960-1127 during the Northern Song Dynasty and was similar to a printed certificate. The circulated volume of the printed currency was so large, that the government created the Office of Jiaozi, which became one of the first banks in China. The paper currency was popular although it was eventually surpassed by round coins with centred square holes.

The Polish Mark

The Polish Mark was the currency of the Regency Kingdom of Poland and the Republic of Poland. However, during the great depression of 1920 the currency became worthless due to aggressive hyperinflation. The gold veneered Zloty was introduced at an exchange rate of 1,800,000 Polish Marks to 1 Zloty, and thus the Polish Mark became a discontinued currency.
Penny Munroe is an avid writer in finance related news and tips. Articles include reviews of the latest currency news to guidelines on Forex trading platforms.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

Recent Posts

Business3 days ago

Why Is Quantity Surveying Essential in Construction Industry

Quantity surveying is an essential part of the Australian construction industry. It is the process of calculating and estimating the...

Home Improvement5 days ago

How to Maintain Upholstered Furniture

No matter if you have pets or kids, maintaining your upholstered furniture is quite a challenge. Even though vacuuming it...

Business1 week ago

How Do I Find a Good Developer?

Finding a good bubble developer to help build your app or digital product can seem challenging. How can you choose...

Home Improvement2 weeks ago

When is a right time for home repairs?

Summer is a popular time for a renovation around the globe. While it is true that bright days and warm...

Top Alteryx Competitors Top Alteryx Competitors
Tech4 weeks ago

Top 15 Alteryx Competitors

The world has seen a tremendous rise in startups and new incorporations in the business world. Companies have great potential...

Lifestyle1 month ago

Latest Wedding Trends for 2023

If you’re planning on getting married this year, chances are you’re probably overwhelmed and confused when it comes to wedding...

Lifestyle1 month ago

Tips To Make The Most Of Your City Break In London!

London is one of the best cities in the world, known for its quintessentially British culture, great nightlife, fantastic museums...

General1 month ago

The Ultimate Guide To Packing For A Trip To London

London is one of the best cities in the world, known for it’s rich history, quintessentially British culture, the best...

Tech2 months ago

Top 15 Web Development IDEs

The web development field has seen sustainable growth throughout the years. As technology is advancing, so is the web development...

devops devops
Tech2 months ago

12 Key DevOps Programming Languages to Still Popular in 2022

“DevOps is not a goal, but a never-ending process of continual improvement.” – Jez Humble Delivering the finest of services...

Entertainment2 months ago

Festival Fashion Style Tips For 2022

Summer is well and truly here and with that comes the festival season! From the biggest stars performing on stage...

Green & Energy2 months ago

4 Tips For Making Your Wardrobe More Sustainable

Everyone is trying to make more of an effort to make their wardrobe more sustainable, but often are unsure where...

General3 months ago

7 tips on how to organize a budget-friendly move

If you are planning a move any time soon, you might be worried about all the expenses that wait for...

Metal Roof Colors Metal Roof Colors
Home Improvement3 months ago

Metal Roof Colors: How to Select the Best Color for a New Roof

Choosing the right type of material for your roof is enough of a hassle already that the question of choosing...

Health3 months ago

Simple Ways To Feel More Confident At The Gym

If you are new to the gym, or you haven’t been in a while, sometimes you might not feel completely...