Bracteates were issued from the 12th to the 14th century in large parts of the German-speaking lands. In many places they were called back regularly, demonetized thus and withdrawn from circulation. People then had to hand them in and exchanged them for a fee for new bracteates. This system is known as demurrage today. Because they lost their value people could not hoard their coins. As a result they had to be spent and in this way stimulated the local economy. Some historians trace the economic bloom of the High Middle Ages back to this monetary policy. This bracteates from the late 13th century was issued in the bishopric of Basel.