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The akçe or akça (anglicized as akche, akcheh or aqcha; Ottoman Turkish: آقچه; Turkish pronunciation: [akˈt͡ʃe], [akˈt͡ʃa], in Europe known as asper)[1] was a silver coin mainly known for being the chief monetary unit of the Ottoman Empire. It was also used in other states including the Anatolian Beyliks, the Aq Qoyunlu,[2] and the Crimean Khanate. The basic meaning of the word is "silver" or "silver money", deriving from the Turkish word ak ('white') and the diminutive suffix -ça.[3]
| آقچه (Ottoman Turkish) | |
|---|---|
 Akçe of Orhan | |
| Demographics | |
| User(s) | |
| This infobox shows the latest status before this currency was rendered obsolete. | |
Cost
editThree akçes were equal to one para. One-hundred and twenty akçes equalled one kuruş. Later after 1687 the kuruş became the main unit of account, replacing the akçe. In 1843, the silver kuruş was joined by the gold lira in a bimetallic system.[4] Its weight fluctuated; one source estimates it between 1.15 and 1.18 grams.[5] The name akçe originally referred to a silver coin but later the meaning changed and it became a synonym for money.
History
edit
The mint in Novo Brdo, a fortified mining town in the Serbian Despotate rich with gold and silver mines, began to strike akçe in 1441 when it was captured by the Ottoman forces for the first time.[6]
The Suleiman Mosque in Istanbul is said to have cost 59 million akçe when it was constructed in the 1550s. This amount is said to have equalled 700,000 ducats in gold (probably Venetian).[citation needed]
Debasement
editSilver content and index in an Ottoman akçe.[7]
| Year | Silver (g) | Index |
|---|---|---|
| 1450–60 | 0.85 | 100 |
| 1490–1500 | 0.68 | 80 |
| 1600 | 0.29 | 34 |
| 1700 | 0.13 | 15 |
| 1800 | 0.048 | 6 |
Value compared to the gold ducat of Venice by years:[8]
| Year | Ottoman akçes |
|---|---|
| 1431 | 35 |
| 1475 | 45 |
| 1491 | 52 |
| 1547 | 60 |
| 1585 | 110 |
| 1645 | 160 |
| 1659 | 220 |
| 1660 | 300 |
| 1721 | 375 |
| 1728 | 400 |
| 1737 | 440 |
See also
edit
References
edit- ↑ Grierson, Philip (1991). "Asper". In Kazhdan, Alexander (ed.). The Oxford Dictionary of Byzantium. Oxford and New York: Oxford University Press. p. 211. ISBN 978-0-19-504652-6.
- ↑ "Coins from the tribal federation of Aq Qoyunlu".
- ↑ "Akçe".
- ↑ Sevket Pamuk, A Monetary History of the Ottoman Empire, Cambridge University Press, 2000, ISBN 0-521-44197-8
- ↑ Ermiş, Fatih (2013). A History of Ottoman Economic Thought. p. 23.
- ↑ Balkan studies. Édition de lA̕cadémie bulgare des sciences. 1988. p. 111.
The mint at Novo brdo (in Turkish "Novar"), was the first to start striking Ottoman akçe — as early as 1441, when Murad Il's military commander, the eunuch Sibab ed-Din pasa captured the town, which had the greatest silver deposits and the ...
- ↑ Malanima, Paolo (2009). Pre-Modern European Economy: One Thousand Years (10th-19th Centuries). BRILL. p. 198. ISBN 9789004178229. Retrieved 19 June 2014.
- ↑ HALİL SAHİLLİOĞLU (1988–2016). "AKÇE: Osmanlılar'ın ilk gümüş para birimi ve ilk sikkesi.". TDV Encyclopedia of Islam (44+2 vols.) (in Turkish). Istanbul: Presidency of Religious Affairs, Centre for Islamic Studies.