This characteristically thoughtful essay by Frans Theuws illustrates how far our analysis of central places in the early Middle Ages has advanced. Like his study of Maastricht (2001), it reveals a close reading of the archaeological and historical sources. Indeed, as Michael McCormick's encyclopaedic volume (2001) on the origins of the medieval economy shows with stunning authority, as archaeologists we have taken huge strides since Philip Grierson quipped, ‘It has been said that the spade cannot lie, but it owes this merit in part to the fact that it cannot speak’ (1959, 129). Hence it comes as no surprise that Theuws is exploring the ‘relationship between forms of exchange and the imaginary world from which “value” is derived’ (p. 121).