Origins of Coinage

Question 1

What are the 3 functions of coinage as a form of money?

Answer 1

store of wealth
measure of value
means of exchange

Question 2

What forms of money likely preceded coinage in mainland Greece?

Answer 2

spits
cauldrons
tripods
weighted silver

Question 3

What form of money was possibly used alongside coinage of Greek world in Hellenistic Crete?

Answer 3

grain

Question 4

What is the fundamental problem with electrum as material for coinage?

Answer 4

differing proportions of silver and gold taht have different values

Question 5

What was a means of assessing the composition of electrum coins? How did this work?

Answer 5

basanos (touchstone)
this was a black, silicon-based stone onto which gold alloys were rubbed; the colour transferred was what was used to assess the purity of the material

Question 6

How accurate could touchstones have been?

Answer 6

± 5% gold content

Question 7

What advantages did coinage as a form of money bring?

Answer 7

no need to weigh or test at each transaction
easy to transport and store
state standardisation was possible leading to popularity due to user trust and also benefits that could be reaped by those states

Question 8

Why did electrum coins emerge in Asia Minor specifically?

Answer 8

good sources of the pure materials AND alloy in the Troad and nr Sardis

Question 9

What type of alloy does the early electrum coins appear to have been made of?

Answer 9

artificial electrum

Question 10

What are the four types of coins found in hoards from Artemision?

Answer 10

unmarked
unmarked obv, punched rev
striated obv, punched rev
image obv, punched rev

Question 11

What date range is assigned to the Artemision pot hoard and naos 2 foundation deposit? What evidence supports this?

Answer 11

650-25
pot containing coins stylistically dated to that time and stratigraphical considerations demonstrate the contemptuousness of hoard with 7th century temple

Question 12

What evidence from the Artemision hoard is there that invention of coinage predates the deposit?

Answer 12

wear on the coins themselves demonstrates their circulation for a time pre-deposit

Question 13

What was the initial purpose of images on coins?

Answer 13

indicate identity of the mint from which the coin originated

Question 14

What are some of the early elctrum images and their mints?

Answer 14

Lion’s head = Lydia
Reclining lion, head looking back = Miletus
Seal = Phocaea
Stag = Ephesus

Question 15

What could reverse punches signify? Example?

Answer 15

Standard by which the partic coin conforms to
Lydo-Milesian standard had cross (+) punch pattern

Question 16

What qualitative check function could reverse punches serve?

Answer 16

demonstrate the coins weren’t plated by penetrating the surface and indicating purity of core

Question 17

What specific functions did electrum coins possibly serve?

Answer 17

state payments - paying mercenaries, taxes etc
trade - as both coinage or commodities
daily exchange - however, even smaller denoms were likely too valuable for this context

Question 18

What are the possible reasons early EL coins had names inscribed on them? Examples?

Answer 18

Royal/civic officials that oversaw coinage
Local dynasts
Private individuals e.g. bankers responsible for issues
‘Kalim’ name on Lydian K coin; ‘I am the badge of Phanes’ coins from Ephesus.

Question 19

What is the debate about the ethnicity/nationality of those responsible for start of coinage? What evidence makes this debate even fiercer?

Answer 19

Lydians vs Greeks due to both Lydian Kingdom and G states minting early on
Contemp literary sources on the matter are all in disagreement

Question 20

Where did early electrum coins circulate? Exceptions?

Answer 20

Western Asia Minor
Two examples found in Thrace and evidence in Athens

Question 21

Around when was bimettalism introduced? Evidence?

Answer 21

c580-546 BCE
Hdt attributes first gold and silver series to Croesus indicating rule 560-546
Croesids found in destruction layer at Sardis post-Persian attack of 546 SO bitmetallic system would have been in place for decent time before this
560 previously seen as start date for Croesus BUT based on Herodotean storytelling date tendency so 580 suggested as an alternative

Question 22

What happened to EL coinage post-bimetallism?

Answer 22

some cross over is apparent e.g. same dies used and mixed hoards
largely stopped being use in favour of silver or gold coinages
BUT exceptions of EL coinage cont.

Question 23

What are the reasons silver and gold coinages get so popular in favour of EL? One reason that was certainly not involved - why?

Answer 23

suitable for use outside of state (would make it hard to use for mercenaries)
trustworthy
m accurate value
Likelihood of the FIRST coinage coming to an end relatively quickly
NOT - technological improvements as EL was likely artificial anyways so silver and gold could be separated

Question 24

Who continued to use gold consistently after Lydian Kingdom fell?

Answer 24

Only Persians on a signif scale with their darics
(Lampascus had small scale regular series)

Question 25

What was the Persian series of silver that continued on from Croesus’ precedent?

Answer 25

sigloi

Question 26

What were the major EL series after the end of the widespread use of the coins?

Answer 26

Cyzicus
Phoc and Myt
Lampascus

Question 27

What was the pattern of gold coinage use in Greece after fall of Lyd Kingdom?

Answer 27

isolated issues, many of which were associated with emergencies

Question 28

What happened to minting intensity after silver coinage became popular in Greek World?

Answer 28

number of mints and spread of minting increased (after having been restricted to W Asia Minor)

Question 29

What early EL denominational pattern was mirrored in the early silver minting?

Answer 29

production of wide range of denominations from v low to v high value coins

Question 30

What was the final step in the development of Greek coinage? When and where did this stage start?

Answer 30

token bronze coinages
c450 BCE, South Italy and Sicily

Question 31

What function did token bronze coinage serve?

Answer 31

replaced small denominations that had been made of silver
small scale transactions, generally in daily use

Question 32

After when and what did token bronze coinage start to be used widely?

Answer 32

c400 BCE
Post-Pelo War