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
For if they had adopted the Aeginetic _standard_, 100 Aeginetic drachms
would have been reckoned to the mina, but as only 70 drachms went to
the mina it is evident that the old ox-unit (so-called Euboic) standard
of unit 130 grs. with its corresponding mina was always the national
Athenian standard.
We showed at an earlier stage that in the age when the art of coining was
first introduced into Greece by Pheidon of Argos, it was probable that
gold stood to silver in the proportion of 15:1. For convenience, then,
in Peloponnesus and in Central Greece a system was adopted by which 10
pieces of silver were equivalent to one piece or ingot of gold. This
system, known as the Aeginetic, was thus obtained.
Gold being to silver as 15:1,
1 gold ingot (Talanton) of 130 grs. × 15 = 1950 grs. of silver,
1950 grs. ÷ 10 = 195 grs.
Therefore 1 gold Talanton of 130 grs. = 10 pieces of silver of
195 grs. each.
It is possible that this method of making 10 silver pieces equal to one
gold unit was developed at the time of the introduction of coined money,
but it is more likely that it may have been in use even before that time.
Now it is worth observing that all through the classical period of Greek
history the term stater is generally confined in use to gold pieces. Thus
silver coins, unless they weighed 135 grs., are not described as silver
_staters_, but are regularly termed didrachms. So general evidently was
this practice that the adjective _chrysous_ (χρυσοῦς) was regularly
employed to express the gold unit, the masculine gender showing that
the noun understood is _stater_ (στατήρ). Thus Pollux says: “Some were
termed staters of Darius, some Philippeans, other Alexandrians, all
being of gold, and if you say _gold piece_, _stater_ is understood: but if
you should say _stater_, _gold_ is not absolutely to be understood[370].”
From the fact that Pollux draws attention to the exceptional use of
_stater_ to express a silver coin, on the principle that _exceptio
probat regulam_, it is evident that stater regularly represents a gold
piece of two Attic drachms. The familiar practice in Attic Greek, when
speaking of a considerable sum of silver without employing either the
term mina or talent, is to say 1000 drachms, 2000 drachms and the
like, but not 1000 staters or 2000 staters, etc., whilst on the other
hand, under like conditions, the practice is to enumerate gold not by
drachms, but by _staters_. Thus in a fragment from the _Demi_ of Eupolis
quoted by Pollux[371] a man is described as possessing 3000 _staters_
of gold. We certainly hear of an Aeginean stater and a Corinthian[372]
stater (both of silver), but both are found in writers of comparatively
late date, when usage was getting less exact, and besides, as the
Aeginetic system had a separate individuality of its own, its unit being
perfectly different from the Euboic Attic, might with justice be termed
a stater. We are thus justified in considering the gold stater the
Public-domain text, read in full here on John Shaqi.
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