Nope. The value of money depended on the bullion content of the coin - it didn't matter the perceived value of the king. Monetary confidence and stability being based on perceptions alone is a very modern concept, and linked to money being printed, rather than coined out of metal of intrinsic value.
What could happen is that a sudden abundance of bullion could lower the value of that type of bullion - the huge influx of New World Silver over the 16th century into Europe through Spain, dropped the real value of silver, and caused spiraling inflation as Europe pretty much had a silver-standard, although most kingdoms had bi-metalic coinage (poor to middle class people rarely handled gold).
England specifically had a very pure silver coinage in the early to mid 15th century (throughout the reign of Henry VI), but Edward IV de-valued the silver content of English coinage by @ 25%, early in his reign.
This was not due to a need to coin more money of less value to fuel the government, but was rather an effort to increase the bargain value of English wool (the industry had suffered over the years, and was the primary money-getting English export), to make it more competitive against increasing foreign woolen cloth production.
Philip the good de-valued his silver coinage in response, by something like 13%, and the gold by 6%, which did not achieve a balance, but had the happy effect for the Flemish economy of an influx of cheaper wool cloth, and a majority of the newly mined silver production in Central Europe into the Low Countries, which boosted the Flemish economy, into the early 16th century, long after his death.
[ 12-09-2007: Message edited by: Fire Stryker ]
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