Mints & Coinage

1.  Dealing with Mints
   1. Opening a Mint
   2. Enabling a Mint
   3. Revoking a Mint
   4. Granting & Revoking Minting Rights
2. Issuing a Coin
   1. Coin Types
   2. Coin Designs
   3. Coin Issuance Events
   4. Coin Effects
      1. General Effects
      2. Famed Coins
      3. Bracteates
   5.  Depreciation
      1. Coin Purity and Coin Slots
      2.  Annual Updates
         • Bracteate Updates
   6.  Coin Decisions
      1. Debasing a Coin
         • Renovatio Monetae
      2. Banning Foreign Coins

CK3 game images used in this article are hyperlinks to navigate through the Crusader Kings III Wiki for appropriate explanations of game concepts.

 1. Dealing with Mints

1.1. Opening a Mint

The Open a Mint holding interaction can be taken by anyone who (all of these):

1. Is landed, either as:
   • An Independent Ruler.
   • A Vassal withCoinage Rights* granted.
2. Is Available for Coinage.

* The Coinage Rights feudal contract is unlocked with the Early Medieval Civic Innovation  Coinage.

The Recipient (holder of barony, or holder of county if holding is leased) must be:

• The same ruler who opens the mint, or any vassal or below.
• Not of Tribal government.
• Not at war.
• Not imprisoned.

TheTarget Barony must have a holding that:

• Is not a Tribal holding.
• Has no Recently Looted or Burnt Down modifier.
• Is not being raided.
• County has not the modifiers Recently Sacked or Recently Enslaved (unless balanced by the modifier Rebuilding after Sacking).
• County has not the modifiers   Pillage, Slave revolt, Disease, Dies Robbed, or  Dies Counterfeited.
• Holder of the county completely controls it (the county is not occupied by another ruler).

A recently open mint will receive a Granted Mint positive modifier.

1.2. Enabling a Mint

The Enable Mint holding interaction will be available for Disabled Mints if the ruler could take the Open Mint holding interaction for the same recipient and target barony. The enabled mint will not receive the Granted Mint positive modifier.

1.2.1. After Raids

After a Mint Raid Event, there is a chance that the Mint will be Disabled (burnt down and its activity brought to a halt):

• Base chance: +15%
• Sadistic Trait: +5%
• Wrathful Trait: +5%
• Multiplied by 1 – 0.5 – 0.33 – 0.25 – 0.2, depending on Liege’s Mintmaster’s aptitude (1 – 2 – 3 – 4 – 5).

However, a Mint Factory (currently only present in Constantinople) has 0 chance of getting disabled.

1.2.2. After Title Transfers

When titles change hands there might be an effect on any Open Mint transferred.

A) A holding will see its Mint Disabled, and Revoked Minting Rights, when a ruler of a Different Government takes over the affected title or any title above it, and it belongs to a Capital County of a previous holder. In particular, if:

• A Tribal government replaces any other government (in case title transfer didn’t take care of it)
• A Feudal government replaces a Clan government.
• A Clan government replaces a Feudal government.
• A ruler of a different Religion (orCatholic vs. Orthodox vs. Other Christian) replaces any other  (non-Clan, non-Feudal) government.

However, it might remain an Open Mint if:

1. The County Holder does not change (a Vassal is changing liege with a different government).
2. The Mint is in the Capital Province of the County Holder.
   • There were Minting Rights in place (a timeless promise to the vassal or settlement won’t be automatically broken).
     • The pre-existing Minting Rights will be replaced by grantedCoinage Rights, if:
       • The County Holder has a Feudal or Republic government and can receive Coinage Rights.
       • The New Title Holder also has a Feudal or Republic government with ability to give Coinage Rights.
   • The County Holder has a Coin in circulation, and the previous holder had a Feudal government (easy check for pre-existing Coinage Rights).
     • The pre-existingCoinage Rights will be replaced by grantedMinting Rights.

B) Even if the new holder has the same or equivalent government, mints can be affected by the title transfer type and by the strength of the Claim:

• If the transfer was due to Conquest or Faction Demand:
  • A Mint Factory will not be affected.
  • Other Mints will be  Disabled.
• If the title was lost to a Holy War or a Populist Conquest:
  • A Mint Factory will be  Disabled.
  • Other Mints will be Revoked for 15 years.

A coinless ruler replacing a ruler with a Coin in circulation will receive a trait No Coinage, with maluses depending on their Tier, on the Coin Metal and Type, and whether or not they have  Banned Foreign Coins. Counties within the coinless ruler’s Realm will receive a Barter modifier, which worse in penalties than the usual No Standard Coinage modifier.

1.3. Revoking a Mint

The Revoke Mint holding interaction will be available with the same conditions as the Open Mint Interaction, and also:

1. Actor must have at least Limited Crown Authority orLimited Tribal Authority.
2. Recipient or any Liege or above (all of these):
   1. Must not have granted Coinage Rights.
   2. Must not have a strong hook against the actor.
3. Target Barony cannot have grantedMinting Rights (in that case, the actor must first Revoke Minting Rights).

Revoked Mints cannot be recovered, and the holding will not have the  Open Mint holding interaction while the negative modifier remains in place (usually 20 years) or for the whole time the mint stays revoked (15 years in the case of forced revocations), whichever is longer.

1.4. Granting & Revoking Minting Rights

The Grant Minting Rights holding interaction is available (all of these).

1. Ruler must be able to take the Open Mint holding interaction for the selected recipient and target barony.
2. Recipient must not have a  Tribal government.
   • Further requirements for rulers with primary title Basileia Rhōmaiōn, or with Clan Government:
     1. Recipient’s highest held title tier must be  County or higher.
     2. Recipient must be a Powerful Vassal.
     3. Further requirements for rulers with  Clan Government (one of these):
        • Recipient with Clan, Theocracy, or Holy Order government.
        • Recipient with Feudal or  Republic government with no modifiable vassal contract, or culture without Early Medieval Civic Innovation  Coinage.
3. Target Barony must not haveRevoked Minting Rights.

The Revoke Minting Rights holding interaction is available for those who can take the Revoke Mint holding interaction, for Target Baronies with grantedMinting Rights.

2. Issuing a coin

To be able to take the Decision Issue a Coin, a ruler needs to fulfill these conditions (if one of these fails, the decision will not appear):

1. Not have a Tribal government.
2. Have at least 1 Open Mint in their Realm (whether in their Domain, or in the domain of vassals or below).
3. If they are not an independent ruler, at least one of these:
   • HasCoinage Rights granted.
   • Has at least 1 Open Mint in their realm with granted Minting Rights, and Liege = Top Liege, fulfilling at least one of these:
     • Has Clan or Theocracy government (these don’t have appropriate coinage contracts).
     • Liege has Clan, Tribal or Theocracy government (these don’t have appropriate coinage contracts).
     • Liege has Feudal government, and at least one of these:
       • Liege does not have the Early Medieval Civic Innovation  Coinage (doesn’t yet have appropriate contracts).
       • Liege has as primary title the  Basileia Rhōmaiōn (Byzantine Empire).
       • Highest held title is a barony (e.g. city mayors, priests, holy orders).

Further, a ruler needs to fulfill these conditions (hovering over the grayed out decision should show a tooltip with the ones that failed):

1. Be Available for Coinage (all of these):
   1. Adult.
   2. Not imprisoned.
   3. Not in an army.
   4. Not in any activity.
   5. Not busy in events.
   6. Does not have the trait Incapable.
   7. Be diplomatically available.
2. Have a Level of Fame at least equal to Established (cannot be Disgraced)

The base cost of coinage is Minor Prestige value (≈75).

2.1. Coin Types

There are two standard coin sizes—Large and Small—and three precious metals— Gold, Silver, Copper—used in medieval coinage. Both aspects determine base values of the Trait modifiers, and of Province and County positive and negative modifiers, with a simple rule of thumb: large > small, and gold>silver>copper.

The Coin Purity level defines the actual values of the modifiers, whereas   Coin Design determines the specific modifiers set by the coins.

For historical reasons, the following rulers can issue any coin type since game start:

• Has the title Basileia Rhōmaiōn (Byzantine Empire).
• Has one of these Religions:
  • Islam (started early imitating Byzantine and Sasanian coin types).
  • Judaism (Khabars made imitations of large silver coins, Jewish communities are in contact with each other and the Islamic and Byzantine worlds).
  • Zoroastrianism (know Sasanian and Indo-Sasanian coins).
  • Hinduism (Indo-Sasanian coins).
  • Buddhism (Indo-Sasanian coins).
  • Jainism (Indo-Sasanian coins).

Other rulers must meet certain conditions, depending on coin type:

• Large Gold Coin (one of these):
  • Year 1250 or later &Capital Province belongs to World Europe West or World Europe South Italy regions (Florin standard and imitations, like Venice’s  Ducat).
  • Has Late Medieval Civic Innovation  Promissory Notes.
  • Capital Province has at least 16 free Coin Slots (= 8 purity + 4 fame + 4 extra).
• Small Gold Coin (one of these):
  • Year 1000 or later &Capital Province belongs to World Europe West Iberia ( Morabetí-Masmudina) or Trade Europe South Southern Italy regions – corresponds roughly to Kingdom of Sicily (Ruba’i – Tarì).
  • Has reached the High Medieval Cultural Era.
  • Capital Province has at least 8 free Coin Slots (= 4 purity + 2 fame + 2 extra).
• Large Silver Coin (one of these):
  • Year 1180 or later &Capital Province belongs to Trade Europe South Northern Italy regions – corresponds roughly to Kingdoms of Italy and Romagna (Venice’s Grosso & early imitations like the Gros Tournois).
  • Has reached the  Late Medieval Cultural Era.
  • Capital Province has at least  16 free Coin Slots (= 8 purity + 4 fame + 4 extra).
• Small Silver Coin. There are no specific requirements, because it is considered the base coin.
• Large Copper Coin:
  • Has reached the  Late Medieval Cultural Era.
  • Capital Province has at least  16 free Coin Slots (= 8 purity + 4 fame + 4 extra).
• Small Copper Coin (one of these):
  • Has religion Taoism (cash coins).
  • Has reached the High Medieval Cultural Era.
  • Capital Province has at least  8 free Coin Slots (= 4 purity + 2 fame + 2 extra).
• Silver Bracteate (all of these):
  1. Appropriate innovation (one of these):
     • Year 1030 or later (when Bracteates were first struck in Central Europe).
     • High Medieval Cultural Era.
  2. Capital Province with an appropriate Trade Region or  Region (one of these):
     • Germania (but not Frisia).
     • Scandinavia.
     • Baltic, Poland,  Hungary.
     • Britannia (but not England, Wales, nor Cornwall).
     • Appropriate Culture when in  Britannia,  Germania, Northern Europe,  or Eastern Europe:
       • Central Germanic heritage (but neither Frisian nor Dutch).
       • North Germanic heritage (but not Norse).
       • West Slavic heritage.
       • Hungarian culture.
       • Goidelic heritage.

2.2. Coin Designs

Design is the most relevant aspect for the Promotion purpose of a coin, defining the specific modifiers given by the Trait that the Issuing Ruler will receive, and by the positive and negative Province and County modifiers associated with the coin.

Please Note: the graphics displayed for each coin design depend on Faith, Religion, Culture, and/or Region, with some special coin graphics depending on  Dynasty or Title (like the Karling’s Denier, also used by the HRE) and/or on Innovation or Year (Florence’s Florin, Venice’s Grosso & Ducat).

These are the available Coin Designs during the Coin Issuance Events, with their modifiers* and their requirements:

*The base values of these bonuses or maluses are associated with the specific Coin Type struck, and their actual values are linked to their Coin Purity level.

• Ruler* coins put the emphasis on the ruler’s prestige and income (their graphics and actual Trait modifier depend on Tier):
  • County tier or greater.
• Ruler’s Son coins promote an heir, who will receive a complementary   Son of Ruler‘s coin trait, sharing with them diplomacy and opinion benefits.
  • Empire tier.
  • Player Heir and Primary Heir exist and are the same.
  • Appropriate   Religion (one of these):
    • Islam religion.
    • “Eastern” Christianity (one of these):
      • Orthodox.
      • Iconoclast.
      • Nestorian.
      • Messalian.
      • Coptic.
• City coins are focused on  taxes.Baronies with Issuing Mints will receive a huge boost with its province modifier.
  • County tier or lesser.
• Religious:  coins coin improve piety and the opinion of coreligionists.
• Holy War coins have even better benefits than Religious coins among coreligionists, especially among rulers of Theocratic and Holy Order governments (including hire costs), but they will result in increased opinion malus among characters and counties of a different religion.
  • The requirements are based on Faith, and are the same as those to declare Great Holy Wars.
• Proselyte coins will improve  opinion of characters and counties of a different religion and different culture, but they will negatively affect opinion and costs among those of the same culture.
  • Must not have a Theocracy or Holy Order government.
  • Same Faith requirements as the Holy War coin.
  • Any Neighboring Realm’s top liege must be of a different Religion.
• Tolerance coins are more diplomatic in their approach to integrate or attract peoples of a differentculture, with less bonus but also less (and less varied) malus than Proselyte coins.
  • Must not have a Theocracy or Holy Order government.
  • Same Faith requirements as the Holy War coin.
  • The  Neighboring Realm’s top liege must be of a different Religion and different Cultural Heritage.
• Liege coins imitate the Regional or Inter-Regional standard of the liege or above. This copied design improves the chance of a successful issuance, and focuses on income and forfeiting  prestige and respect of other rulers.
  • Must not have a Theocracy or Holy Order government.
  • A Liege or above must have a Famed coin.
• Vassal coins imitate the Regional or Inter-Regional standard of a vassal or below. This copied design improves the chance of a successful issuance, and focuses on income and forfeiting  prestige and respect of other rulers.
  • Must not have a Theocracy or Holy Order government.
  • County tier or greater.
  • A Vassal or below must have a Famed coin (this is assumed to always happen for the Abbey of Tours, see below under special cases).
• Imitation coins imitate an Inter-Regional standard of the same  Religion, not necessarily current at the moment of issuance, focusing even more on income and forfeiting  prestige and respect of other rulers. If Issuance ends in Famed coin, this will remove current negative Foreign Famed Coin modifiers in the Realm.
  • Must not have a Theocracy or Holy Order government.
• Infidel coins imitate an Inter-Regional Standard of a different  Religion, not necessarily current at the moment of issuance. It has an absolute focus on income, forfeiting piety,  prestige, and the opinion of other rulers and coreligionists. If Issuance ends in Famed coin, this will remove All current negative Foreign Famed Coin modifiers in the Realm.
  • Must not have a Theocracy or Holy Order government.

*Designs of the Ruler type have some special behavior on Title Transfers:

• An Issuer upgrading their Tier after a title transfer will receive a Trait with modifiers depending on the number of Tiers of difference between their current one and the coin’s, and also on the Coin Metal and Type.
• An Issuer downgrading their Tier will have to choose between a Liege (or Imitation) design, or showing the appropriate, downgraded Tier.
• A ruler inheriting a primary title of an Issuer after Death or Abdication will inherit their Coin with an additional Malus Trait, depending on Coin Metal and Type:
  • Heir coin, if primary heir of the original Issuer.
  • Dynast coin, if member of the original Issuer’s Dynasty.
  • Non-dynast coin in all other cases.

2.3. Coin Issuance Events

The Decision Issue Coin triggers a partially randomized series of events whose final outcome will determine the Coin Purity level, which in turn defines the actual values of the modifiers set by the Coin Design, and the base values set by the Coin Type.

Each Coin Issuance Event might include one or both of the following:

1. A change in the expected Coin Purity level, shown in Coin Issuance Trait changes.
2. A change in the chance of a Successful Issuance, which allows the coin to become a Regional or Inter-Regional standard – if and only if it is a  Fine Coin*.

*In the rare event that the Coin Issuance ends up with a Regular or lesser purity level but with a Successful coinage, this won’t have any effect.

The chance of Success improves as follows:

1. Selecting a Moneyer (base value):
   • Dedicated Moneyer, depends on Mintmaster trait rank (0-1-2-3): +60% – +65% – 70% – 75%
   • Your Steward, depends on Mintmaster trait rank (0-1-2-3): +40% – +45% – 50% – 55%
   • Servant, depends on Stewardship skill rating (low vs. high): +10% vs. +20%
2. Relevant Court Positions (hidden event – increased base value):
   1. Master of the Mint (depending on aptitude 1-2-3-4-5): +10% – 15% – 20% – 25% – 30%
   2. Warden of the Mint (depending on aptitude 1-2-3-4-5): +5% – +10% – 15% – 20% – 25%
3. Selecting a Coin Type:
   • Liege: +20%
   • Vassal: +30%
4. Vassals and their finest metal:
   • Not contributing: -20%
   • Contributing: +10%
5. Moneyer retreat:
   • Retreat: +20%
   • No Retreat: -20%
6. Engraver. -10% if failed, +20% if successful:
   • Expert engraver: guaranteed success.
   • Moneyer: 50:50 + Learning Challenge.
   • Other ( Steward): 50:50 (= random).
   • Ruler: 33:66 + Learning Challenge.
7. Moneyer wants to sign the coin:
   1. Letting them sign: increased chance of survival during annual updates.
      1. Letting them sign as “Foreigner” moneyer (different Faith + different Culture): greater increase of survival during annual updates.
   2. Not letting them sign: no effect.

Special Coins have a better chance of Success, provided their requirements are met (one of them):

• Florence’s Florin ( Ruler &  Religious): +30%
  • Primary title Firenze.
  • Primary titleToscana.
  • Primary title Pisa (and holds Firenze or Toscana).
• Venice’s Ducat ( Ruler and  Religious): +20%
  • Primary title Venice.
  • Primary title Venice.
• Venice’s Grosso ( Ruler & Religious): +30%
  • Primary title Venice.
  • Primary title Venice.
• France’s Gros Tournois ( Ruler): +20%
  • Primary title France.
  • Primary title France.
• England’s Penny (Ruler & Religious): +25%
  • Primary title England.
  • Primary title Britannia.
• Denier Tournois (City/Ruler/Vassal): +10%  (only after the year 1100*)
  • Primary titleTours (City coin).
  • Primary titleTourraine (Ruler coin).
  • Primary title Berry (Vassal coin).
  • Primary title France (Vassal coin).
  • Primary title France (Vassal coin).

*The Abbey of Tours minted Carolingian deniers since the 10th c., but they seem to have acquired prestige (together with a change in design from the classical temple to the Castle of Tours) during the 12th c.

2.4. Coin Effects

AnyBarony without coin modifiers will receive a No Standard Coin modifier with maluses in  taxes anddevelopment.

• Tribal holdings (but also non-Tribal holdings that suddenly lose a Standard Coin to Debasement or Counterfeit) will receive a Barter Economy modifier, with even worse maluses. 

2.4.1. General Effects

 Issuing Mints include either:

• For Independent rulers, or rulers withCoinage Rights:  All Open Mints within their Realm.
• In all other cases: only Open Mints with granted Minting Rights within the Ruler’s Domain.

The Issued Coin:

• Will be struck in Baronies with Issuing Mints. Holdings will receive:
  • Positive Province modifier*.
• Will circulate in all  Counties within a Duchy with at least 1 Issuing Mint:
  • Positive Province modifier*.

*The bonus or malus of these Coin modifiers are associated with the specific Coin Type struck, and their level is linked to the Coin Purity Level.

2.4.2. Famed Coin

A Famed Coin is a High Purity coin establishing a Regional or Inter-Regional Standard, and whose circulation expands thus beyond the Duchies with an Issuing Mint. Depending on the specific Metal and Coin Type struck, famed coins will expand their influence with specific  tax and development values marked by Positive or Negative modifiers:

• Regional Standards will affect:
  • The Trade Region of theCapital Province of the Issuing Ruler.
    • Positive modifier for Counties within the same Realm.
    • Negative modifier for Counties outside of the Issuer’s Realm, provided they are of the same Trade Religion.
• Inter-Regional Standards will affect:
  • The Trade Region of theCapital Province of the Issuing Ruler.
    • Positive modifier for Counties within the same Realm.
    • Increased Negative modifier for Counties outside of the Issuer’s Realm, provided they are of the same Trade Religion.
      • Negative modifier for other Counties outside of the Issuer’s Realm.
  • Neighboring Trade Regions (including neighbors by sea) of theCapital Province of the Issuing Ruler.
    • Positive modifier for Counties within the same Realm.
    • Negative modifier for Counties outside of the Issuer’s Realm, provided they are of the same Trade Religion.

After successful Issuances of coins the issuing ruler might receive a Trait  Coinage Success, with economic bonuses depending on the precious metal involved. This trait will be lost after any Coin Devaluation (be it through Depreciation or Debasement).

2.4.3. Bracteates

Silver Bacteates have special requirements and effects:

• The ruler has to select an Open Mint has to struck the coin, either through a Decision event, or directly through a Holding Interaction in the barony.
• A ruler can issue a maximum of 4 bracteates at the same time.
• Bracteates will circulate in the whole Duchy of the Issuing Mint:
  • The mintingbarony will receive a positive modifier in terms of taxes and development.
  • All other baronies in the samecounty will not receive any modifier.
  • All otherbaronies within the duchy will receive a negative modifier in terms of  taxes, but positive indevelopment.
  • A Duchy can have a maximum of 4 circulating bracteates.
• The Province will also receive a lesser modifier ( positive and  negative) when the Bracteate becomes Automatically Depreciated.

2.5. Depreciation

The events and effects regarding Depreciation of coins follow Oresme’s principles in De Moneta, as well as known events of the Middle Ages, as described e.g. in Spufford (1988).

2.5.1. Coin Purity & Coin Slots

The simple concept of Purity puts together the two main features of precious metal content that determines the value of a coin: fineness, and weight. Purity is handled in game with the concept of Coin Slots equivalency, which in turn depends on the size of the coin:

Purity	Small Coin	Large Coin
Minimum	0.5 Slots	1 Slots
Poor	1 Slots	2 Slots
Mediocre	2 Slots	4 Slots
Regular	3 Slots	6 Slots
Fine	4 Slots	8 Slots
Regional Standard	+2 Slots	+4 Slots
Inter-Regional Standard	+2 or +3* Slots	+4 or +6* Slots

All coins circulating in a Barony occupy a number of Coin Slots, depending on their size and purity. Coin Circulation is defined by:

• Province “Regional Coin” modifiers, applied within the Duchy of an Issuing Mint: occupies the appropriate number of Coin Slots (see table above).
• County “Regional Famed Coin” modifiers, applied within the  Realm of the issuing ruler: occupies an extra +2 (small) or +4 (large) Coin Slots.
• County “Foreign Famed Coin” modifiers, applied outside of the  Realm of the issuing ruler: occupies an extra +2 (small) or +4 (large) Coin Slots.
• County  Increased* “Foreign Famed Coin” modifiers, applied outside of the Realm of the issuing ruler: occupies an extra +3 (small) or +6 (large) Coin Slots.

Precious metals flow through a holding as Traded metals, which include bullion (traded by weight) and coins (traded by their nominal value):

• Traded Gold flows in the form of Coins is shown as occupied Gold Coin Slots (read more on Gold metal).
• Traded Silver flows in the form of Coins is shown as occupied Silver Coin Slots (read more on Silver metal).
• Traded Copper in the form of Coins is shown as occupied Copper Coin Slots (read more on Copper metal).
• Occupied Coin Slots also include -10% of the County’s Development, divided proportionally among the three Traded metals according to their respective flows. This represents the

2.5.2 Annual Updates

The number of Free Coin Slots of a Barony is obtained by subtracting  Traded Metal – Occupied Coin Slots. If this number is negative, the coins circulating in the Barony have a market value greater than their nominal value, posing a great incentive for traders to clip or melt them. Their precious metal is then hoarded or sold by weight as a commodity, instead of used as a standard for trade: that leads to the natural depreciation of the coin.

Every year, all Rulers with Coins in circulation are evaluated as follows:

1. Better coins are evaluated first, following Oresme’s principle (also called Gresham’s law). That is, if two coins of the same size and metal are minted in the same Minting Barony, the better one is more likely to be depreciated first.
2. Larger coins are evaluated first, assuming smaller coins are preferred for trade. In other words, among competing coins of the same metal in a Minting Barony (including those of the same ruler), larger ones are more likely to be depreciated first.

The Base Available Precious Metal for each specific Coin is evaluated as follows:

1. All Free Coin Slots of every Barony with anIssuing Mint are added up.
2. The  Tier of a ruler improves the availability of Free Coin Slots, assuming that lower tiers get their taxes proportionally more in product than in precious metal:
   • Has the title Basileia Rhōmaiōn: +3
   • Has the title HRE: +1.5
   • Empire tier: +1
   • Kingdom tier: +0.5
   • Duchy tier: +0.25
   • County tier: -0.25
   • Barony tier: -0.5
3. Realm Size/250 (for comparison, 250 is the size of the whole HRE 1066, so the emperor would receive +1 in January 1066).
4.  Number of Mints x 0.05 (for example, 10 Issuing Mints would give +0.5).
   1. If there is a Mint Factory (currently only in Constantinople): +1

Certain factors work as (×) multipliers rather than additives, and can thus be essential in case of temporary precious metal famines:

1. Master of the Mint court position, depending on aptitude (1-2-3-4-5): +2% – 4% – 6% – 8% – 10%
2. Warden of the Mint court position, depending on aptitude (1-2-3-4-5): +3% – 6% – 9% – 12% – 15%
3. Signed Coin (assumed to please the network of moneyers): +10%
4. Realm Crown Authority (1-2-3-4): 0 – 5% – 10% – 15%
5. Banned Foreign Coins: +30%

Trade Balance is added up last, so that a surplus can overcome a poor availability of Traded Metals, but a deficit can drive them down:

• From  Resources (depends on balance of payments):
  • Negative balance: -100% value (precious metals are exported to import the necessary resources).
  • Positive balance: +10% (not all local resources can be exported, and those that are exported could be part of a regional barter economy).
• From Taxed sales (slaves, war animals, artifacts): +100% added up.
• From Production: +100% added up.

The final evaluation compares the Ruler’s Total Available Precious Metal with the Minimum Number of Slots for coin survival (0.5 for small coins, 1 for large coins). If it is less than that number, the coin will be depreciated depending on the Coin Purity level or Fame (one of these cases):

• Inter-Regional fame will be downgraded to Regional fame.
• Regional fame will be removed.
• Purity will be downgraded -1 level.

Bracteate Updates

Noticeably weaker than other coins, Silver Bracteates have their own annual updates, plus an extra random one which sets an absolute maximum survival time:

• They are evaluated after all other coins (their Silver Coin Slot occupation will always affect better Silver coins struck in the Issuing Mint.).
• Free (Silver) Coin Slots are only evaluated in the  barony of their associated Issuing Mint.
• The Minimum Number of Slots for survival during the annual evaluation is 0.25.
• If the coin doesn’t pass the evaluation, it will be directly destroyed.
• After a maximum of 5 years (random), the bracteate will be automatically depreciated, with lighter  character and province modifiers.
  • 5 years after that, the bracteate will be automatically destroyed.

 2.6. Coin Decisions

 2.6.1. Debasing a Coin

A ruler can decide to voluntarily Debase a Coin, receiving quick and easy Gold in exchange for a -1  Purity level, and a malus in general opinion and stewardship.

1. The Ruler must (all of these):
   1. Fulfill the same requirements as for the Issue Coin decision.
   2. Have at least Level of Fame Distinguished.
   3. Have an available character to interact with (at least one of these):
      1. Steward in the Council.
      2. Master of the Mint court position.
      3. Warden of the Mint court position.
2. The Coin must (all of these):
   1. Be of Mediocre purity or higher.
   2. Not be Recently Issued (= not less than 4 years old).

The decision has a cooldown of 6 years.

Success has a random chance which can be influenced (from a min. 50:50 to a max. 90:10) depending on the following factors:

• (+) Stewardship of  Steward councillor, if available.
• (+) Aptitude of Master of the Mint court positionn, if available.
• (+) Aptitude of Warden of the Mint court position, if available.
• (–) Renovatio Monetae modifier.
• (–) Failed Renovatio Monetae modifier.

The effects of a Failed Debasement include:

• Additional Loss of -1 Purity level.
• Worse Debasement modifiers.
• Less Gold (part of it might go to those involved in the failed recoinage).
• The ruler might receive the trait Coinage Failure, with additional economic penalties (it will be removed after any successful coinage).

Renovatio Monetae

The character interaction Renovatio Monetae or Coin Renewal is a special type of debasement typical of Catholic Europe, with less penalties and better chances of success, but slightly different (usually stricter) requirements:

1. The coin must be a Silver Denier (small silver coin):
   1. At least Low purity (that is, any circulating coin).
   2. Not be Recently Issued (= not less than 4 years old).
   3. Must not have taken the interaction Renovatio Monetae on this coin in the past 5 years.
   4. Must not have taken the decision Debasement on this coin in the past 6 years.
2. The Issuing Ruler must:
   1. Fulfill the same requirements as for the Issue Coin decision.
   2. Have a Master of the Mint to interact with.
   3. Have a Duchy or higher tier rank.
   4. Have an Absolute Crown Authority.
      1. If taken the  Banned Foreign Coins decision, at least High Crown Authority.
   5. Have Catholic faith.
   6. Have the High Medieval Civic Innovation  Banking.
   7. Have a Major Prestige Value (≈350).
   8. Not have the Coinage Failure trait.
   9. Capital Province with an appropriate Trade Region or  Region (one of these):
      1. England.
      2. Germania.
      3. Scandinavia.
      4. Poland.
      5. Hungary.
      6. Baltic (historically the Teutonic Order).
      7. Or have as Primary Title (assuming theCarolingian Empire and heir kingdoms could do it, too):
         1.  Kingdom of France.
         2. Empire of France.
         3. Kingdom of Italy.
         4. Empire of Italy.

2.6.2. Banning Foreign Coins

The Decision to Ban Foreign Coins can be taken at a major cost in Gold and Prestige, by fulfilling all of these:

1. Independent ruler.
2. Neither Tribal nor Clan government.
3. Not at war.
4. At least Kingdom tier.
5. Is Available for Coinage.
6. Has at least one Open Mint.
7. Have at least High Crown Authority.
   1. If primary title is the Kingdom of England, at least Limited Crown Authority.

The effects of the decision will include:

• Foreign Famed Coins in theRealm :
  • Removal of current modifiers.
  • Avoiding the effect of future modifiers.
• Issued Coins:
  • If any:
    • Potential upgrade of 1  High Purity coin, obtaining a Fame trait associated with it.
  • If none (or loses all coins once the decision has been taken):
    • No Coinage trait depending on their Tier, with worse modifier values than the equivalent No Coinage trait.