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In page Shilling:

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In 796, Charlemagne passed a monetary reform, based on the Carolingian silver pound (about 406.5 grams). The schilling was one-twentieth of a pound or about 20.3 grams of silver. One schilling had 12 denarii or deniers ("pennies"). There were, however, no silver schilling coins in the Carolingian period, and gold schillings (equivalent to twelve silver pfennigs) were very rare.[citation needed]