When Cheese Was Currency

Before crypto, before contactless, before even coins jingled in the pockets of medieval merchants, there was… cheese. Yes, cheese. That fragrant, mouldy miracle of curdled milk once stood in for hard cash, and in some corners of the world, it was as good as gold—if not better, depending on your appetite and tolerance for lactose.

At first glance, the idea of a cheese-based economy sounds like a Monty Python sketch. But history, ever eager to outdo satire, assures us it was very much a thing. Entire towns paid their taxes in cheese. Soldiers marched on Parmesan. Deals were sealed over a well-aged wheel.

So, how did this dairy-based economic system work, and could you really bribe your way into a castle with a block of cheddar?

Cheese: The Original Bank Note (with a Shelf Life)

Let’s begin with the basics. Why cheese? Why not butter, or bread, or slightly aggressive goats?

The answer lies in the magic of preservation. Hard cheeses—Parmesan, Grana Padano, aged cheddar—can last for years without refrigeration. They travel well, are high in calories and protein, and double as both food and commodity. In other words: edible gold.

In regions where coinage was scarce and barter was the name of the game, cheese offered an ideal medium of exchange. Farmers could trade wheels for tools, services, or even rent. Nobles accepted them in lieu of taxes. Monasteries stockpiled them like mini Fort Knoxes, protected by cheese-loving monks in robes and sandals.

Cheese as Tax and Tribute

In medieval England, serfs often paid part of their feudal dues in cheese. The Domesday Book, that exhaustive ledger of 11th-century Britain, contains multiple references to cheese owed to the crown. It wasn’t uncommon for peasants to tithe a tenth of their cheese output to the local lord or abbey.

In France, records from Burgundy and Auvergne show entire communities contributing cheese to the church as part of their annual obligations. And not just any cheese—specific types, from specific cows, from specific hillsides. Because terroir mattered, even to tax collectors.

The Cheese That Fed Armies

Now to the truly wild part: military cheese. Forget bullets—wheels won wars.

During the Renaissance, Italian city-states like Parma and Modena famously provisioned their armies with Parmigiano Reggiano. Why? Because unlike salted meat or bread, it wouldn’t rot, it didn’t need boiling, and it was packed with protein.

One military supplier in 16th-century Lombardy even estimated how many soldiers a single wheel could feed over several days. Parmesan was basically MREs before MREs existed.

Napoleon’s armies carried aged cheeses across Europe. Swiss mercenaries took blocks of Emmental as both rations and bargaining chips. Roman legions, always practical, issued cheese portions alongside grain and oil—no soldier went hungry when the curd supply was strong.

Cheesy Economics in Action

Some of the strangest historical transactions involved cheese-as-currency moments that seem absurd today but were perfectly logical at the time.

Cheese as Dowry

In 17th-century Netherlands, it wasn’t uncommon for brides to bring cheese as part of their marriage arrangements. Families displayed their wealth through vast stores of Edam and Gouda. Forget diamonds—if she came with a cellar of cheese, she was a catch.

Cheese Loans

Rural banks in parts of Switzerland and northern Italy accepted cheese deposits. Farmers could store wheels in climate-controlled cellars, borrow against their value, and repay after a good harvest. It was essentially a dairy-backed loan system—Wall Street, but way more pungent.

Cheese as Diplomacy

In 13th-century Italy, diplomatic gifts often included cheese. One record shows Florence sending a tribute of aged pecorino to a neighbouring duchy to secure a trade alliance. Cheese, clearly, spoke louder than words.

But Surely This Ended with the Renaissance?

Not quite. Cheese held fiscal power well into the 19th century, particularly in rural and agrarian economies. Even today, there are echoes.

• In Italy, cheese banks still exist. The Credito Emiliano bank in Emilia-Romagna stores and lends against thousands of Parmesan wheels. The cheese acts as collateral, ageing in enormous vaults under lock and key.
• In Ethiopia, wheels of traditional cheese are used as part of wedding settlements and rural bartering.
• In Mongolia, dried curds known as aaruul are occasionally used in trade in nomadic communities.

So technically, we’re not entirely past the age of dairy-based commerce.

Cheese and Inflation – A Cautionary Tale

Not all cheese economies ended well. Some medieval regions saw cheese overproduction crash local markets. Prices plummeted. People hoarded. Cheese riots broke out (yes, that’s a real thing—look up the Fromage Revolt of 1730 in Savoie). Economic bubbles, it seems, aren’t exclusive to dot-com stocks and tulips.

Cultural Reverberations – Cheese in Our Language

Cheese’s historic value shows up in our language too. Ever wonder why “the big cheese” means someone important? It’s not just about sandwiches. It harks back to when cheese equalled wealth and influence.

Same with phrases like “cut the cheese” (less glamorous), and “cheesy grin”—a reference to the smug satisfaction of someone who, say, just paid off a debt with a wheel of Gouda.

Why Cheese Makes Surprisingly Good Money

Let’s recap what made cheese a viable stand-in for coins:

• Long shelf life – especially for hard, aged varieties.
• Transportable – can travel across kingdoms without spoiling.
• Nutritional – feeds soldiers, peasants, and monks alike.
• Scalable – large wheels for big transactions, slices for everyday trades.
• Stable value – unless flooded with fakes (yes, counterfeit cheese was a problem too).

In other words, cheese had everything you’d want from a pre-modern currency. Even better, it could be melted on toast.

Modern-Day Curiosities – Cheese Still Has Value

While you can’t buy your morning coffee with a wheel of Brie, the world’s most expensive cheeses are worth more per gram than some precious metals. A kilo of Pule, a Serbian cheese made from donkey milk, can cost over £800. That’s more than gold, with a much funkier aftertaste.

Collectors trade rare vintage cheeses like they’re fine wines. Some invest in wheels of Parmesan as long-term assets. And in foodie circles, cheese auctions fetch absurd sums. Dairy, it seems, still has economic clout.