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Ottoman Empire
Mahmud II
2 Rumi AltınGold Coin
鄂圖曼帝國
馬哈茂德二世
2魯米·阿爾滕金幣
Item number: A1332
Year: AD 1818 (AH 1234)
Material: Gold
Size: 26.0 x 26.0 mm
Manufactured by: Istanbul
Provenance: Heritage Auction 2024
This is a 2 “Rumi Altın” gold coin minted during the reign of Sultan Mahmud II of the Ottoman Empire. The term “Rumi” in “Rumi Altın” was commonly used during the Ottoman era to denote “Roman” or “of the Roman region,” particularly referring to the Eastern Roman Empire, or Byzantine Empire. The word “Altın” translates to “gold.”
The coin features a beaded edge, with the obverse displaying Mahmud II’s tughra, flanked by two roses to the right. Surrounding the tughra is an intricate pattern of winding vines or floral motifs, with an additional outer border consisting of beaded decoration. The tughra itself contains the Sultan’s name and title. On the reverse side, the coin also features a circular border of vines or flowers, with Arabic inscriptions indicating the year of the Sultan’s rule, the minting location, and the year of the coin’s production. This particular coin was minted in Istanbul in the year AH 1234, corresponding to the 11th year of Mahmud II’s reign.
“Altın” can be regarded as another widely used term for the “Sultani” gold coin in the Ottoman Empire. Among the various gold coins minted, the “Sultani” was the most widely circulated on the market. From the late 15th century until the 17th century, “Sultani” gold coins dominated the Ottoman monetary system. However, after 1697 and through the mid-18th century (1754), a variety of new coin types emerged, leading to a gradual decline in the monopoly of the “Sultani” on the market.
In the early sixteenth century AD, the Ottoman Empire’s currency system was generally divided into three types. The first and most valuable were gold coins, typically used by merchants, money changers, financiers, high-ranking officials, and medium or large-scale business owners for major transactions. Gold coins were also frequently used for payments of salaries, rewards, and ransoms by the Ottoman government, and were widely circulated within political and administrative circles. The second type of currency was the “akçe”, a silver coin that held a lower value than gold. The “akçe” was the most commonly used currency in the Ottoman Empire, often used in small-scale daily trade, and was frequently subject to debasement by government policy. The third and least valuable type was the “mangir”, a copper coin used primarily for minor daily transactions.
Tracy L. Schmidt, Standard Catalogue Of World Coins 1801-1900 9th Edition(Stevens Point: Krause Publications, 2018)
Friedberg, Robert, Gold coins of the world : complete from 600 A.D. to the present : an illustrated standard catalogue with valuations ( New York:Coin and Currency Institute , 1980)
Tolga Akkaya, “The Evolution Of Money In The Ottoman Empire, 1326-1922,”(M.A. THESIS, bilkent university, 1999)
SEVKET PAMUK, “The Evolution Of Money In The Ottoman Empire, 1600–1914,” Financial History Review, 11(1), 2004, pp. 7–32
Muhammad Ishak Razak & Asmak Ab Rahman, “Money In Islamic Civilisation: From The Prophet Muhammad (Pbuh) Until The Ottoman Caliphate,” Economic and Management Research Journal, 14(11), 2021, pp. 59-78