Exchange Rates

After leaving the Riverside Town Mint, Victor went straight back to Wood Fort Town and convened a small meeting with the managers who were still in Wood Fort Town.

The Lord's Mansion, originally located in the center of Wood Fort Town, was directly used by Victor as the new office location for the territory's government.

As the territory expanded, the number of civil servants in the government also increased, and the original office locations were no longer sufficient. Many large territorial administrative departments have moved out and found their own offices elsewhere.

Bob's Department of the Industrial Department had long since moved to Riverside Town, the industrial center of the territory, while Sam's Department of the Agricultural Department had also relocated to the Agricultural Technology Training School south of Wood Fort Town.

Therefore, Victor could only find Powell, the head of the Government Affairs Office and Department of Civil Administration, Rabik of the Commerce Department, Levant of the Urban Construction Department, and several deputy heads of the Taxation Department and Animal Husbandry Department.

At the meeting, Victor took out the new copper coins he had brought back from the Mint. There were two kinds: a smaller one, which Victor named Copper Jiao, and a larger one, which he named Copper Yuan. They were to replace the copper coins and Copper Piece that were originally circulating in the market.

Victor distributed the copper coins directly to the crowd, many of whom were seeing the real thing for the first time. The coins were basically the same as the designs they had seen at the previous meeting.

The Copper Jiao coin has a simple design, with numbers printed on one side and Golden Sunflower Crest on the other. The Copper Yuan is relatively more complex, with printed patterns below the numbers, and the Golden Sunflower Crest on the other side is larger, more three-dimensional, and has a serrated edge.

Although these Copper Yuan and Copper Jiao are smaller than the copper coins and copper Copper Piece that were previously on the market, they are quite heavy, have brighter colors, and more beautiful patterns, making them much better than the previous Grand Duchy copper coins.

Everyone naturally praised it highly, unanimously believing that the new money would be welcomed by the people of the territory.

Seeing that everyone was saying this, Victor directly stated his plan. "These copper coins are manufactured using new technology. The Copper Yuan weighs about 9 grams, and the Copper Jiao weighs 2 grams. The composition of the two is slightly different, so the colors are somewhat different, with the Copper Yuan being redder."

Copper Yuan are 90% copper, mixed with a certain proportion of zinc and tin. Copper Jiao are 65% copper, 30% zinc, and half a ton of tin. The composition ratio is roughly like this.

Currently, the territory can produce copper domestically, but zinc and tin still need to be imported. Fortunately, these metals are very cheap and can often be used as ballast.

However, from a cost perspective, Copper Yuan are definitely cheaper.

I hope that when promoting the new currency in the future, we will focus on promoting Copper Yuan, while Copper Jiao) can be used together with the original Copper Piece. How do you think the two should be exchanged?

Rabik, from the Commerce Department, was arguably the most sensitive to currency matters besides the Finance Department. He immediately took out a Copper Yuan and said, "Our Copper Yuan are so exquisitely made, and they are even heavier than the copper coins of the past. I remember that the previous copper coins only weighed 6 to 7 grams, and their purity was not high. They might not even be as good as these Copper Jiao!"

Copper Piece contains even less copper, and in order to save costs, Silver Maple Ducal House also contains a large amount of iron.

I believe our Copper Yuan can be considered as two copper coins, while Copper Jiao) should be considered as three Copper Piece.

Actually, I think it's completely unnecessary for Copper Piece and Copper Jiao to circulate together, since most people still mainly use barter in their daily transactions.

Only soldiers and small merchants in the territory are willing to use cash, so there is no problem even if only Copper Jiao are circulated.

We can offset the extra cost of minting Copper Jiao by setting a higher exchange rate for Copper Piece and copper coins!

Rabik's words were unanimously agreed upon by the supervisors.