There were some pre-coin types, with no recognisable image, used in the Ionian city of Miletus and the island of Samos but it is noteworthy that the coins from Cyme, when first circulated around 600-550 BC, utilised the symbol of the horse - tying them to the house of Agamemnon and the glory of the Greek victory over Troy. Aylettes’ tax revenue may be the real ‘Midas touch’ financing his and his son's, Croesus, conquests. Aylettes’ association with the Midas mythology came about because Lydian electrum came from the river Pactolus in which King Midas supposedly washed away his ability to turn all he touched into gold. A real King Mita of Phrygia lived in the 8th century BC but coins were not invented until well after the Phrygian kingdom collapsed. However, as with all fables, there is a problem with the dates. though it is more likely, that what the Greeks called invention, was rather the introduction of the knowledge of them from countries more advanced in civilization. The most rational explanation of this fable seems to be, that he encouraged his subjects to convert the produce of their agriculture, and other branches of industry, into money, by commerce, whence considerable wealth flowed into his own treasury. Indeed, the daughter of Agamemnon of Cyme, Hermodike II, is credited with inventing coined money by Julius Pollux after she married King Midas - famed for turning everything he touched into gold. The Trojan Horse had become synonymous with the name of Agamemnon and the symbolism of the horse was stamped on the coins from Cyme in Aeolia, presumably in reference to the power of their lineage. Even the smallest-denomination electrum coins, perhaps worth about a day's subsistence, would have been too valuable for buying a loaf of bread. However, it took some time before ancient coins were used for commerce and trade. The Lydian Lion was minted by Alyettes of Lydia, 610–560 BC. Other countries in Asia, in Africa, and elsewhere have adopted the Western approach to coinage as well. Chinese coinage, though it probably developed independently, was succeeded by Western-style coinage in the late nineteenth century. Indian coinage has largely been a product of Greek, Roman, and Islamic influences. These directly preceded ancient Greek coinage, through which Rome begot all Western coinage, and through which the Seleucids, Parthians, and Sassanians begot all Islamic coinage. The royal lion symbol stamped on the coin, similar to a seal, was a declaration of the value of the contents. The Lydian Lion coins were made of electrum, a naturally occurring alloy of gold and silver but of variable precious metal value. The first structures in the sanctuary, buried deep under the later temples, date back to the eighth century BCE, and from that time on precious objects were used in the cult or dedicated to the goddess by her worshippers.
Although few non-Chinese cast coins were produced by governments, it was a common practice amongst counterfeiters.Įphesus' great temple of Artemis has provided evidence for the earliest coins yet known from the ancient world. The Chinese produced primarily cast coinage, and this spread to South-East Asia and Japan.
Ĭoins were first made of scraps of metal by hitting a hammer positioned over an anvil. Coins help in knowing the information about the kingdom, language, administration, religion and economic condition and also the title of the ruler who minted those coins.
Notable examples of coins include the Lydian Lion coins, Persian daric and siglos, Tong Bei, the dirham and gold dinar.Ĭoins are the major archaeological source of history. The history of coins stretches back to the first millennium BC/BCE. ( Learn how and when to remove this template message) Please discuss this issue on the article's talk page. Please read the layout guide and lead section guidelines to ensure the section will still be inclusive of all essential details. Please help by moving some material from it into the body of the article. This article's lead section may be too long for the length of the article.
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