Akçe Explained

The akçe or akça (also spelled akche, akcheh; Turkish, Ottoman (1500-1928);: آقچه; pronounced as /tr/, pronounced as /tr/, in Europe known as asper or aspre) was a silver coin which was the chief monetary unit of the Ottoman Empire. The basic meaning of the word is "silver" or "silver money", deriving from the Turkish word and the diminutive suffix .[1] Three s were equal to one . One-hundred and twenty s equalled one . Later after 1687 the became the main unit of account, replacing the . In 1843, the silver was joined by the gold lira in a bimetallic system.[2] Its weight fluctuated; one source estimates it between 1.15 and 1.18 grams.[3] The name originally referred to a silver coin but later the meaning changed and it became a synonym for money.

The mint in Novo Brdo, a fortified mining town in the Serbian Despotate rich with gold and silver mines, began to strike in 1441 when it was captured by the Ottoman forces for the first time.[4]

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).

Debasement

Weight of in grams of silver and index.[5]

Year Silver (g) Index
1450–60 0.85 100
1490–15000.68 80
16000.29 34
17000.13 15
1800 0.0486

See also

External links

Notes and References

  1. Web site: Akçe.
  2. Sevket Pamuk, A Monetary History of the Ottoman Empire, Cambridge University Press, 2000,
  3. Book: Ermiş. Fatih. A History of Ottoman Economic Thought. 2013. 23.
  4. Book: Balkan studies. 1988. Édition de lA̕cadémie bulgare des sciences.. 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 ....
  5. Book: Malanima. Paolo. Pre-Modern European Economy: One Thousand Years (10th-19th Centuries). 2009. BRILL. 9789004178229. 198. 19 June 2014.