The Origin of Metallic Currency and Weight StandardsRidgeway, William
History
The Origin of Metallic Currency and Weight Standards
Ridgeway, William
Money -- Origin; Weights and measures -- History
These early electrum coins are simply bullet-shaped lumps of metal, like
the so-called _bean_ money formerly employed by the Japanese, having
what is termed the obverse plain or rather striated, as a series of
lines in relief run across the coin, whilst the reverse has three incuse
depressions, that in the centre oblong, the others square. The coin here
figured (from the British Museum specimen) is on the Babylonian silver
standard (166·8 grs.), but it is on the staters of Phoenician standard
that we first find any attempt at types or symbols. The idea of engraving
some symbol on the punches used for stamping the incuse depressions was
in truth the grand step towards the creation of a real coin. Thus a
stater of 219 grs. which bears in the central incuse a running fox, in
the upper square a stag’s head, and the lower an X-like device, may be
regarded as the first complete coin as yet known. It would seem from
this, therefore, that it was on the coast-region, where the Lydians came
into contact with the artistic genius of the Greeks, that the real start
in the art of striking money took place. Electrum was employed because
it was found native in great quantities in the whole district which lay
around Sardis, in the valleys of Tmolus, and the sands of Pactolus. The
ancients found considerable difficulty in freeing the gold from the
associated silver (p. 97).
Once known, Miletus and other important Ionian cities were not long in
improving on the Lydian invention. The advantages of a metallic currency
were so obvious that an intelligent and progressive race hastened to
avail themselves of it. “Only those,” says Captain Gill (speaking of the
borders of Thibet and China), “who have gone through the weary process of
cutting up and weighing out lumps of silver, disputing over the scale,
and asserting the quality of the metal, can appreciate our feelings of
satisfaction at being once more able to make payments in coin[354].” No
sooner had the Ionians commenced coining than they appear to have adorned
the face of the ingot with a symbol, probably both as a guarantee of
weight and purity, and perhaps as a preventive of fraudulent abrasion.
During this period it is not improbable that the arts of Ionia had made
their influence felt in Lydia, and hence “it is impossible to distinguish
with absolute certainty the Lydian issues from those of the Greek towns,
but there is one type which seems to be especially characteristic of
Lydia as it occurs in a modified form on the coinage attributed to the
Sardian mint and to the reign of Croesus; this is the Lion and the Bull.
These coins have on the obverse the forefronts of a lion and a bull
turned away from one another and joined by their necks[355],” whilst the
reverse shows three incuse depressions. This is Phoenician in weight
(215·4 grs.). There are other coins, often attributed to Miletus, which
may be assigned to Lydia; some with a recumbent lion on the obverse, and
Public-domain text, read in full here on John Shaqi.
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