Paranin Tarihi

For the Ottomans, coinage—along with the *khutba* (sermon)—was one of the two most important symbols of sovereignty. As gold and silver coins passed from hand to hand and region to region, they carried the ruler's power to the farthest corners of the realm. The Ottomans had to contend with the challenges posed by the abundance of currency, its market circulation, and the resulting adverse effects on trade and the economy; yet, they generally adopted a flexible and pragmatic approach to monetary matters. This book chronicles the six-century journey of Ottoman monetary history, spanning from the first silver *akçe* minted by Orhan Bey to the *kaime* (paper currency) used during the empire's final years. In his work—backed by meticulous research in Ottoman archives—Prof. Dr. Şevket Pamuk examines the Ottoman monetary system in its entirety. He analyzes the coins circulating across the vast Ottoman territories, economic policies, currency debasement, inflation, credit and financial institutions, and money markets, as well as their evolution in response to local developments and global forces.