A new interpretation of the runic inscription on the Forsa Ring (Forsaringen in Swedish), provides fresh insights into the Viking Age monetary system and represents the oldest documented value record in Scandinavia. The inscription describes how the Vikings handled fines in a flexible and practical manner.
A new interpretation of the runic inscription on the Forsa Ring , provides fresh insights into the Viking Age monetary system and represents the oldest documented value record in Scandinavia. The inscription describes how the Vikings handled fines in a flexible and practical manner.
"This indicates a much more flexible system, where both oxen and silver could be used as units of payment. If a person had easier access to oxen than to silver, they could pay their fines with an ox. Conversely, if someone had silver but no oxen, they could pay with two ore of silver," says Rodney Edvinsson.
He has previously contributed to developing a historical consumer price index extending back to the 13th century, but this new interpretation provides insights into price levels even earlier in history.
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