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
We must now turn to the commercial weight system. As elsewhere, one of
the chief commodities to come under such a system was copper, and the
history of the weighing of this metal, as far as it can be learned, will
be of great importance to us. Now we should naturally expect that at
Athens, which had in later days but one standard for gold and silver,
copper likewise would have been estimated on this unit. But, as a matter
of fact, there were two distinct standards in use at Athens, as is proved
by two weights preserved in the British Museum, the inscription on one of
which is _Mina of the Market_ (ΜΝΑ ΑΓΟΡ), that on the other is _Mina of
the State_ (ΜΝΑ ΔΗΜΟ). This mina of the market is the same as that called
the _Commercial Mina_ on an Attic inscription[418], where its weight is
given as that of 138 silver drachms, that is, the weight of an Aeginetic
mina of silver. Athens had not coined any money of her own up to Solon’s
time, but seems to have employed the coins of Aegina. But this standard,
although no longer employed for silver, did not fall into desuetude.
As already pointed out, all peoples have felt the need of a heavier
standard for cheap articles than that which serves for gold. Probably
the Aeginetic mina had been used at Athens for copper: accordingly,
when Solon made his new silver standard for the weighing of silver, the
Aeginetic standard was found convenient for less costly and more bulky
wares, and was therefore retained in use as the mercantile or market
standard, the name STATE being given to the silver standard.
We have learned already that in the early stages of society copper and
iron are not sold or appraised by weight, but rather by measurement.
We have also seen that there is every reason to believe that the Greek
obol originally was a spike or rod of copper of a definite length and
thickness. If we can believe the statement of Ephorus given by Strabo
that Phidon of Argos established a weight as well as a measure system for
the Peloponnesians (although Herodotus is silent as regards weights),
it is not at all improbable that, taking this story in conjunction with
the dedication of the old bar money by Phidon in the temple of Hera, we
have here a genuine tradition of the superseding of the bars of metal,
the value of which simply depended on their dimensions, by a system based
essentially on weight. It is plain that, as copper was weighed both at
Aegina and Athens by the Aeginetic silver standard, copper most probably
was never estimated by weight until after the forming of the separate
silver standard in the way already described.
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