Learnings: Alfred's Silver Coins

A silver coin issued by Alfred (Aelfred), in London / 9th cent.

Alfred needed more and more coins to pay the mercenaries he hired to protect Wessex and to pay tributes to Norse invaders. For reasons that are still not entirely clear, even before he defeated the Viking chieftain Guthrum, Alfred decided to make more valuable coins with higher quantities of silver.

The increase in silver might have been Alfred's way of announcing a new era of prospertiy for Wessex. However, a higher silver content also meant a more stable coin economy, as people could rely on the value of coins. The coins also helped to display Alfred's new wealth and power after his victory over Guthrum.