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Old 05-07-2016, 09:59 PM
friedo friedo is online now
Join Date: May 2000
Location: Brooklyn
Posts: 23,646
Originally Posted by msmith537 View Post
Specifically, say I'm a wealthy lord traveling with my lady and a small entourage to some other country for an indefinite stay. What do I do for cash while travelling? Do I bring a big chest full of gold coins or whatever to use for purchasing stuff? What happens when I run out of local cash or am robbed? Did they have "credit" until I can send for another shipment of gold? Where do I store my gold securely?
You could haul a big chest of gold with you if you want. But depending on how far you were traveling, a more common plan was to bring a letter of credit from a trusted banker. You could exchange that locally for gold or currency, and the bankers would settle among themselves. Banks still work the same way today, basically.