This is what is known as a bullion economy, in which the weight and the purity of the precious metal is what's important, not what form the metal takes. Far and away the most common metal in the economy was silver, although gold was also used. Silver circulated in the form of bars, or ingots, as well as in the form of jewellery and ornaments. For the Vikings, it was easier for them to carry coins because they migrated many times so instead of bartering for goods they made coins and used those.
These are some Viking coins found in Furness, North West England |