From the Silver Czech Tolar to a Worldwide Dollarby Petr Vorel - 2019-02-25
Quite often we are asked to provide an estimate of the relative value (in US Dollars) for a historic home or farm. In fact this is not easily done, as the value of property, as well as livestock, equipment, and currencies have been in a constant state of flux.
We frequently suggest Petr Vorel's very comprehensive study on the topic of currency and value. We hope that readers will find the history as fascinating and informative as we do.
While it may not provide an easy answer to the question "How much was great grandfather's farm worth?" It will undoubtedly help descendants to appreciate the cost, in terms of risk from monetary uncertainty that their forbears had to struggle through.
In very real terms, this is an analytic look at minting and convertibility of currencies, from one continent to another, and over time throughout the world. It does, however, make a clear case for the importance of the mining reforms in Bohemia from as early as the 13th century, and how these reforms helped to lay the foundations for a world marketplace.