The History of coins in Greece

Early forms of exchange

Barter trade (exchange of goods) After the invention of scales we have

the need for a handier exchange means in the form of

metal tokens

Talent

• it had the shape of the hide (skin) of an ox

•a plate of metal (copper, silver, gold)

• 1 talent = 25 kgr

• or approximately the mass of water required to fill an amphora

Mna

A talent was divided in mnes (a unit for measuring mass)

1 talent = 60 mnes

1mna = 433gr of gold

Obols

ovolos= spit, iron rod

a metal (iron, silver) coin only it was not round

a palm could hold six obols

Drachma

6 Obols = 1 Drachma

from the Greek verb drattomai (=grab, grip) we get the word drachma

the name of the Greek currency from ancient times till it was replaced by the Euro in 2001

Coins• They appear in the end of the 7th c BC- beginning of the 6th c

BC in Minor Asia• They were made of electron a mixture of gold and silver• They were not absolutely spherical• They had no emblazonment• A hammering proved that they were legal

Staters

Croesus in 560BC, in Minor Asia separates the two minerals and makes golden and silver staters

Some equations• 1 drachma = 1/100 of a mna = 4.3 gr of gold• 1 drc = 6 obols• 2 drc = 1 stater• 100 drc = 1 mna• 600 drc = 1 talent

The first coins in the main Hellenic area

The silver statersin the Island of Aegina

Athens

Next, the Athenians strike coins with various depictions on them but in 510 BC they realize that they need one that will symbolize their city and that everybody would recognize all over the world

the 4 drachmas coin

Macedonia

• Philip, the father of Alexander the Great, in 345 BC cuts golden staters.

• Alexander’s coins became powerful and remained as such for two more centuries after his death

Engraved topics: subjects related to religion, mythology or elements of the natural environment

Rhodes would “play “ with the name and have roses

Metapontium in Magna Graecia had wheat

Selinuntas in Sicily had celery Santorini had dolphins

Knossos the mazeCorinth had Pegasus and the angled

cross, a symbol of good luck.

Coins in Epirus

• Epirus = Άπειρος = Infinite land• Inhabited by greek populations since 2500 BC( Chaonians, Thesprotians, Dryops, Athamans, Molossians)• Introvert, farming societies

Ambracia

The Corinthians formed the colony of Ambracia (the ancient name of Arta) in the 7th and 6th c BC. It developed financially and since the beginning of the 5th c BC it obtained its coin: a silver stater

The Corinthian influence ceases and they issue coins that depict subjects related to their culture. In the middle of 3rd c

we have coins with the head of Dioni, wife of Zeus worshipped in the oracle of Dodoni, and the obelisk of

Apollo, the patron god of Ambracia

King Pyrros, a Molossian king, makes Ambracia his capital in 307 BC

Impressive silver staters

232 BC the Commonwealth of Epirus

National word ΑΠΕΙΡΩΤΑΝ

(= genitive form = of the people of Epirus)

Material basically adapted from the publications of Alpha Bank