How expensive was nutmeg?

In the early 17th century, nutmeg was so expensive that it was sometimes used as currency. In 1602, the Dutch East India Company (VOC) took control of the Banda Islands, the only place in the world where nutmeg was grown at the time. The VOC then instituted a monopoly on the nutmeg trade, and the price of nutmeg skyrocketed. In 1621, a pound of nutmeg was worth more than a pound of gold.

The high price of nutmeg led to a number of attempts to smuggle nutmeg out of the Banda Islands. In 1623, a group of English pirates led by John Jourdain attacked and captured the Banda Islands. Jourdain and his men stole a large amount of nutmeg and mace, and then sold it for a huge profit.

The VOC cracked down hard on nutmeg smuggling and began executing anyone caught trying to smuggle nutmeg out of the Banda Islands. Although smuggling continued to be a problem, the VOC was largely successful in maintaining its monopoly on the nutmeg trade.

The price of nutmeg eventually began to decline in the 18th century, as other countries began to grow nutmeg. However, nutmeg remained a luxury spice for many years. In the 19th century, the price of nutmeg fell further, and it became more affordable for everyday use.

Today, nutmeg is still a popular spice, but it is no longer as expensive as it once was. A pound of nutmeg can be purchased for around $10.