In the eighth century, Pepin the Short introduced the silver denier coin into the Frankish kingdom. It was wider and thinner than previous silver pieces.

After Pepin's son Charlemagne succeeded his father, he reorganized the monetary system in the growing Carolingian Empire. The denier, or silver penny, became a standard not only for early France and Germany but for other portions of Europe as Charlemagne extended his influence. Not until the Italian production of gold coins in the 13th and 14th centuries did silver coins of larger denominations become common.

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