History of Coins

Essay by captainoats17University, Bachelor'sA, February 2008

download word file, 3 pages 5.0

A Pensive Glimpse at Coins In many early civilizations, the primary form of economic exchange was through a system of bartering. In definition, Barter is to trade goods or services without the exchange of money. This system worked for many civilizations and cultures. However, it was not until the invention of currency in the form of coins that allowed vast development in civilizations to occur. Currency in the form of coins has been a part of almost all major civilizations at one point or another. Throughout the world and history, there is a striking similarity of how coins have adapted into civilization. In order to fully understand the existence of the coins and how it has come to play such a major role in the progression of civilization we must look at their progression through history as well as alterations that have been applied by various civilizations.

The first coins came into existence in Asia Minor during the seventeenth century.

Similarly to modern culture, they provided a means of exchange and were adorned with artistic engravings. Archaic coins such as these depicted artistic symbols of the city or ruler, a tradition that continued throughout the spread of coinage. These coins were cast with a determined weight of electrum, which is a naturally occurring alloy of gold and silver. Throughout history, coins have been composed from some form of precious metal just as they are in present day. After it's initiation, coins as a form of exchange began to spread throughout the world as the Lydians began to produce coins of pure silver and gold. As in the case of modern day coinage, coin values began to reflect the actual value of the metal instead of one that was imposed on the coin. The spread of coinage initiated profound implications on...