Rumian real
The Rumian real (Pelaxian: Real rumanse; meaning: "Rumian royal") was a unit of currency in the Viceroyalty of Los Rumas for several centuries after the late 15th Century. It had underwent several changes in value relative to other units throughout its lifetime until being replaced by variants of the peseta after the viceroyalty was dissolved in 1852. The most common denomination for the currency was the twelve-real Rumian peso which was used throughout Vallos during the height of the viceroyalty.
Initially the name for the silver coins minted in Los Rumas alongside the gold escudo and the copper isuriense, the real would eventually become the name for the viceroyalty's currency in general, with the diminutive peseta being used for coins greater than an isuriense but lesser than a peso, as the usage of gold and copper were eventually phased out save for particular denominations. Throughout the real's existence, the viceroyalty maintained a high amount of autonomy over the maintenance of its currency, with the sole stipulation being that its main unit, the one escudo piece, is pegged to Pelaxia's currency at all times.
The viceroyalty's monetary system changed several times over the centuries before settling down with the following formulas: 1 escudo equals to 40 pesos; 1 peso equals to 24 pesetas; 1 peseta equals to 12 isurienses. From 1732 until 1852, the coins of the real were as follows: For the escudo, there was the 1-, 2-, 4-, and 8-escudo denominations; for the peso, there was the 1-, 2-, 4-, 5-, 8-, 10-, and 20-peso denominations; for the peseta, there was the 1-, 2-, 4-, 8-, and 12-peseta denominations; for the isuriense, there was the 1⁄4-, 1⁄2-, 1-, 2-, 3-, 4-, and 6-isuriense denominations.
With the end of the viceroyalty in 1852 after the abolition of the Pelaxian monarchy, the provisional government of the new Delepasian Kingdom had attempted to modernise the real but to no avail, forcing them to replace it with the peseta, which would find use as the name of the currencies found in the Delepasian polities from then until 1976. Unlike the real, the new peseta was a decimal currency, meaning that the new currency's main unit is divided by powers of 10. Coins of the real are currently considered to be prized collectibles, so much so that the Imperial Vallosi Mint, Rumahoki's mint decided to mint "pre-decimal coins of the peseta", meaning that they began minting coins that purportedly were of the peseta before decimalisation, despite the peseta always having been a decimal currency. Regardless, these coins are often sought-after by collectors and tourist traps alike.
Terminology
The real makes use of many terminologies to refer to the various aspects of the currency throughout its time as legal tender, some of them having changed a few times, but overall there were a few words that have maintained more or less consistent usage, even if what they meant changed over time. The real originally meant the silver coins minted in Los Rumas, placing it in between the gold escudo and the copper isuriense (named after the region of Isuria, the ancestral homeland of the vast majority of Pelaxian-speaking settlers in the Viceroyalty of Los Rumas). It was not until the 18th Century when the real began to be used to refer to the currency in general rather than just the coins that make up the peso. The peso, which was originally worth twelve reals, came from the Latin word "pensum" which was vulgarised into "pesum" before being pelaxianised into "peso"; its diminutive "peseta" would be used to refer to the subdivisions of the peso since the 18th Century. The escudo is used to refer to the main unit of the viceroyalty's currency, itself coming from the word for "shield" in reference to the coins depecting the viceroyalty's coat of arms.
After the abolition of the real in 1852, all the words used to refer to the old currency of the viceroyalty fell into disuse, save for the terms "peso" and "peseta" which found use in the decimal currency that replaced the real; the former being used to refer to the new currency's main unit, and the latter being used to refer to the currency in general. "Escudo" and "isuriense" were never used for the new currency, falling out of fashion in favour of the more decimal-friendly centavos and millavos which were used from that point on as the subdivisions of the peseta.
History
With the establishment of the Viceroyalty of Los Rumas in 1497 by Mauricio Delepas, one of the first questions that came up was about currency. A few proposals were sent in, some involving just using Pelaxia's currency, and others relying on an independent Rumian currency. King Jeronimo I instead chose to come up with a compromise wherein the viceregal currency would be independently managed by the viceroyalty in perpetuity under the condition that the currency's main unit, the escudo is pegged to Pelaxia's currency to ensure smooth trade between the two jurisdictions. This new currency was to go under the following structure: 1 escudo for 2 pesos; 1 peso for 12 reals; 1 real for 20 isurienses. An ordinance passed that same year implemented a conversion system between the viceregal and Pelaxian currencies to facilitate ease of trade.
The original real was minted in 1⁄2-, 1-, 2-, 3-, 4-, 6-, and 12-real denominations, with the latter being referred to as a peso. The original escudo was only minted in 1-, and 2-escudo denominations given the rarity of escudo coins in regular circulation. The original isuriense was minted in 1⁄2-, 1-, 2-, 4-, and 5-isuriense denominations. As the viceroyalty grew, so did its economy, thus necessitating changes in what made up an escudo. These changes were made in 1538, 1612, 1682, 1701, and 1732, each time adding some complexities and new denominations into the viceregal monetary system.
The silver coins were originally cut from silver bars and hammered on a coin die. While these coins were of consistent weight, they were very inconsistent in terms of shape or were debased in precious metal content. Unlike machined coins, these coins were often much thicker than average so as to maintain a consistent weight. The 1732 reforms, which legally defined the currency name as the "real", were an attempt to produce a more consistent shape, but the resulting coins were still misshapen half the time. In certain parts of Vallos the larger coins were often cut to give intermediate values. Attempts to discourage this practice was met with failure every time.
The copper coins were generally only struck by the viceregal mint, which meant that it had to mint copper coins for Pelaxia for a good three centuries until the Pelaxian mint was able to mint copper coins without having to rely on other mints. Very few Pelaxian copper coins minted in the viceroyalty survive to this day as many of them were melted to mint new copper coins. The copper coins that remain are often listed at very high values and are prized by many collectors.
There was an attempt in 1837 to decimalise the real by removing certain non-decimal denominations and recategorising decimal denominations. This resulted in mass confusion over conversion tables and the decimalisation was reversed before the end of that same year. The real collapsed after the Pelaxian monarchy was abolished in 1852, and the subsequent royalist government-in-exile known as the Delepasian Kingdom began to introduce a new decimal currency known as the peseta. To set up the new currency, a peso was pegged to where the real was before the end of the Pelaxian monarchy, and the exchange rate was set to 12 escudos for 1 peso. Although the Delepasian Kingdom dissolved within months, the peseta would be used as the currencies for the Delepasian polities for years to come, thus putting an end to the real as a form of legal tender.
Monetary system
The currency of the Viceroyalty of Loa Rumas went through six different compositions, each with their own denominations and what each unit is worth in lower units. Indeed, the monetary system of the real since 1732 is vastly different from that of the original monetary system used in the viceroyalty:
- 1497 - 1 escudo for 2 pesos; 1 peso for 12 reals; 1 real for 20 isurienses. The escudo only existed in 1-, and 2-escudo denominations; the real was minted in 1⁄2-, 1-, 2-, 3-, 4-, 6-, and 12-real denominations; the isuriense was minted in 1⁄2-, 1-, 2-, 4-, and 5-isuriense denominations.
- 1538 - 1 escudo for 4 pesos; 1 peso for 18 reals; 1 real for 54 isurienses.
- 1612 - 1 escudo for 8 pesos; 1 peso for 16 reals; 1 real for 60 isurienses.
- 1682 - 1 escudo for 16 pesos; 1 peso for 40 reals; 1 real for 48 isurienses
- 1701 - 1 escudo for 24 pesos; 1 peso for 20 reals; 1 real for 20 isurienses.
- 1732 - 1 escudo equals to 40 pesos; 1 peso equals to 24 pesetas; 1 peseta equals to 12 isurienses. For the escudo, there was the 1-, 2-, 4-, and 8-escudo denominations; for the peso, there was the 1-, 2-, 4-, 5-, 8-, 10-, and 20-peso denominations; for the peseta, there was the 1-, 2-, 4-, 8-, and 12-peseta denominations; for the isuriense, there was the 1⁄4-, 1⁄2-, 1-, 2-, 3-, 4-, and 6-isuriense denominations.
Tourist trap
Since 1997, in celebration of the 500th anniversary of the establishment of the Viceroyalty of Los Rumas, the Imperial Vallosi Mint began to mint coins based on a set monetary system: 1 peso for 20 solidos; 1 solido for 12 denarios. The coins are sold to international collectors and are purported to be "authentic" coins of the pre-decimal peseta. The peseta, however, has always been a decimal currency, and none of the monetary systems of the viceroyalty used a 1:20:12 ratio. The coins minted are usually minted using much less valuable metal, the coins are always dull, and the coins are sold from a front website run by the Imperial Vallosi Mint for very cheap prices.
Public outcry against what was deemed to be a scam was met with official responses from the mint claiming that the coins were minted for tongue-in-cheek purposes and as a promotional publicity stunt to celebrate the establishment of the viceroyalty in 1497 and that the mint was not responsible for any one not bothering to read the site's terms of service which details that this was indeed an elaborate prank. With the public mollified, the mint continued to mint these so-called "historical pre-decimal peseta" coins as cheap souvenirs for both coin collectors and tourist traps alike, even regularly changing the reverse designs by holding nation-wide contests in Rumahoki to see which of the submitted ideas are worthy of being on these coins.
As of 2030, there exists 1/4-, 1/2-, 1-, 3-, and 6-denario denominations, 1-, and 2-solido denominations, and 1/2-real (1/8 of a peso) and 1-real (1/4 of a peso) denominations. These denominations are not legal tender in Rumahoki, but are rather just one of many ways to get tourists and collectors to spend their money on Rumahokian trinkets. Typically, the continents with the highest amounts of these coins are Crona and Levantia as those tend to be the continents where the most buyers come from.