Erik Nitsche: Man Minting Coins
Artist: Erik Nitsche
The Frankfurt Stock Exchange traces its origins back to the two Frankfurt Fairs held in spring and autumn of 1585. During these ancient fairs, financial transfers were so extensive that they were handled not through direct payments but through mutual balancing of accounts. At the fall fair of 1585, eighty-five merchants assembled and agreed on the value of nine different species of coins and the city of Frankfurt gave its consent to their decision. Thus, for the very first time, an exchange rate -- like that still in use today -- was instituted. In 1820, stocks were noted for the first time. The leading position of the Frankfurt Stock Exchange was only interrupted once -- between the time of the Second German Empire and the end of World War II. Today, Frankfurt is again the leading German Stock Exchange and handles about half of all German stock sales. Next to the much larger exchanges in New York, London and Tokyo, it is one of the most important exchanges in the world.
This painting was originally published on the Fleetwood® First Day Cover for the Germany 80pf Frankfurt Stock Exchange stamp issued August 31, 1985.
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