During the Renaissance, in Italy, how much money was a lot of money?
(using Italian Currency. i.e Ducats, Florins....)
The only information I found was this reference to an artist being paid more than any other artist for a large art work. He received 500 ducats. I assume that was a lot of money.
http://www.renaissanceconnection.org/lesson_math_business.html
During the Renaissance in Italy, the value of money varied depending on the specific time period and location. However, some common currencies used in Italy during that time included the ducat, florin, and scudo.
To determine how much money was considered a lot during the Renaissance, we can look at historical records and economic sources. One useful way to estimate the value of money during the Renaissance is by comparing it to the price of common goods and services.
For example, let's say we want to find out how much money was considered a lot in Florence during the Renaissance. We can refer to historical records that provide the average cost of certain items, such as a loaf of bread or a bottle of wine.
By comparing the cost of these goods with the average income of a worker during the Renaissance, we can get a sense of the relative value of money. If, for instance, a loaf of bread cost 1 florin and the average daily wage was 10 florins, then 10 florins would be considered a significant sum of money.
It's important to note that the value of money can fluctuate over time due to inflation, economic changes, and other factors. Therefore, the relative value of money during the Renaissance may not be directly comparable to today's currency.
To get a more accurate estimate for a specific time period or location within Italy during the Renaissance, researching historical records, economic data, and scholarly sources would provide more precise information.