Write about variety of coins used in early ages
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The Lydian Lion coin directly preceded ancient Greek coinage, through which Rome begot all Western coinage, and which through the Seleukids, Parthians, and Sassanians begot all Islamic coinage. Indian coinage has largely been a product of Greek, Roman, and Islamic influences.[1] Chinese coinage, though it probably developed independently, was succeeded by Western-style coinage in the late nineteenth century.[2] Other countries in Asia, in Africa, and elsewhere have adopted the Western approach to coinage as well.
The Lydian Lion was minted by Alyattes of Lydia, Lydia, 610–560 BC.[3] However, it took some time before ancient coins were used for commerce and trade. Even the smallest-denomination electrum coins, perhaps worth about a day's subsistence, would have been too valuable for buying a loaf of bread.[4] TheTrojan Horse had become synonymous with the name of Agamemnon and the symbolism of the horse was stamped on the coins fromCyme in Aeolia, presumably in reference to the power of their lineage. Indeed, the daughter of Agamemnon of Cyme, Damodice, is credited with inventing coined money byJulius Pollux after she married King Midas - famed for turning everything he touched into gold.[5]
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... though it is more likely, that what the Greeks called invention, was rather the introduction of the knowledge of them [coins] from countries more advanced in civilization.[6]
However, as with all fables, there is a problem with the dates. A real King Mita of Phrygia lived in the 8th century BC[7] but coins were not invented until well after the Phrygian kingdom collapsed. There were some pre-coin types, with no recognisable image, used in the Ionian city of Miletus and the island of Samos[8] 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. Cyme, being geographically and politically close to Lydia, took their invention of 'nobleman's tax-token' to the citizens - thus making Cyme's rough incuse horse head silver fractions, Hemiobols, a candidate for the title of the Second Oldest coins - and the first used for retailing on a large-scale basis by the Ionian Greeks, quickly spreadingMarket Economics through the rest of the world.[9] For an excellent timeline graphic showing the progression from pre-coin, to lion, to horsehead imagery on the earliest coins, see Basic Electrum Types.[10]
The Lydian Lion was minted by Alyattes of Lydia, Lydia, 610–560 BC.[3] However, it took some time before ancient coins were used for commerce and trade. Even the smallest-denomination electrum coins, perhaps worth about a day's subsistence, would have been too valuable for buying a loaf of bread.[4] TheTrojan Horse had become synonymous with the name of Agamemnon and the symbolism of the horse was stamped on the coins fromCyme in Aeolia, presumably in reference to the power of their lineage. Indeed, the daughter of Agamemnon of Cyme, Damodice, is credited with inventing coined money byJulius Pollux after she married King Midas - famed for turning everything he touched into gold.[5]
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... though it is more likely, that what the Greeks called invention, was rather the introduction of the knowledge of them [coins] from countries more advanced in civilization.[6]
However, as with all fables, there is a problem with the dates. A real King Mita of Phrygia lived in the 8th century BC[7] but coins were not invented until well after the Phrygian kingdom collapsed. There were some pre-coin types, with no recognisable image, used in the Ionian city of Miletus and the island of Samos[8] 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. Cyme, being geographically and politically close to Lydia, took their invention of 'nobleman's tax-token' to the citizens - thus making Cyme's rough incuse horse head silver fractions, Hemiobols, a candidate for the title of the Second Oldest coins - and the first used for retailing on a large-scale basis by the Ionian Greeks, quickly spreadingMarket Economics through the rest of the world.[9] For an excellent timeline graphic showing the progression from pre-coin, to lion, to horsehead imagery on the earliest coins, see Basic Electrum Types.[10]
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