Gar Travis is one of our regular "answer guys", but this time he poses a question for our readers:

The siege of the city of Leyden, in modern day Netherlands, is believed to be the first instance wherein paper money of necessity was used. Although Leyden boasts a wide variety of metallic siege coins from the 1570s, it was here that the first paper siege notes were issued. These "notes" are not notes at all but are, more properly, considered coins. When besieged Leyden exhausted its supply of silver, the coins were made of paper torn from prayer books. Resembling the real thing, this money, struck from coin dies, nevertheless was made of paper.

Are these items coins or paper money? The controversy could go on forever.Being a paper money enthusiast, I prefer to view them as paper money, and offer in support of my thesis the dictionary definition of a "coin". Trusty Mr. Webster defines a coin as: " a flat round piece of metal issued by government authority as money", or, "metal money". Since these "coins" are not metal, they must be considered "paper", or so my logic goes!

Metalic siege money of Leyden (left), struck in 1574 from a round coin die onto a diamondshaped silver planchet. As the supply of silver available for coinage dried up during the siege,Leyden continued to mint coins made from paper torn from prayer books. These cardboard"notes" became the first paper money to appear in the Western world. Prior to this only theChinese used paper money.

A cardboard coin struck during the Spanish siege of Leyden in 1574 may be seen at right. Thearms consist of a rampant lion with shield and sword. Note the counterstamp located at sixo'clock. By order of Prince William of Orange, provincial counterstamps were added to all coinsin excess of 1/10 daalder. This act increased the value of the coinage in circulation by one eighth,which was then used as a war contribution.

There are eight known specimens of Leyden cardboard money made fromcoinage dies. They range in value from 5 to 30 stuivers. All are dated 1574. Some bear countermarks while others do not. A listing of these pieces follows: