The First Gold Coin

The First Gold Coin

How a Turkish invention changed the world’s monetary system

Lydian gold coin issued under the reign of Croesus (Fifth century BC) deoxyadenosine monophosphate army for the liberation of rwanda as our cognition goes from the discoveries equally well as intensive research that has been made by historians and archeologists it is said that the Turks were the first to invent an actual currency whish presents real number monetary value. It has been said that many traders before the first gear gold mint would equitable trade in either gold or silver nuggets by assuming their weight unit and comparing it to the measure of the goods they were selling. The creation of such a coin is referred back even before the Iron Age Anatolia of the sixth century BC credited by the Kingdom of Lydia or what we call now Turkey. The invention was much needed in order to offer well trading adenine well as enhance the ease of making trades and with the Kingdom of Lydia being the wealthiest at the time ( gold fresh ) they decided to make a staple which would represent a currency of an claim amount of gold.

This mint was made up of electrum which is a natural mix of 44 % silver and 56 % gold which was said to be found in abundance within the local rivers. The first real gold coin is said to be in the fifth hundred BC, however, based on discoveries in ancient temples, it seems that even if these coins have been produced in the fifth century BCthey would not be used in department of commerce until the beginning of the sixth century BC.

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Some historians even state of matter that these gold coins have not been truly used as coins at foremost but in some cases as ritual objects or even medals and badges. even if each mint would have presented the like value, their weight would differ from 17 grams to even 12 grams and in this case, sol would their shape. As presented by the beginning mint above, the condition would not be of an accurate circle but quite edgy.

King Croesus of Lydia What was very important with these coins was the insignia on them, the leo attacking the bull is a symbol of royalty as the Kingdom of Lydia was very herculean particularly during the rule of king Croesus during 561BC to 547BC. As aureate has constantly played a critical share in the monetary system of the world it was in a way expected that future currencies would be made up of gold or early valuable metals. At the same clock, it is imperative mood to remember that the times where identical unlike and the population of the world was much smaller. not entirely that but besides the fact that the percentage of rich people was sol much smaller than what we are seeing today, as most people would either be soldiers or peasants which meant that they would not see much amber in their lives, specially the peasants which would merely live of the estate. At the beginning of the seventh hundred BC, such gold mint currency would become quite celebrated around the populace, therefore, it ’ s used was implemented by most nations and traders around the worldly concern. A big minority of historians placid argue to this day that the first gear gold coin could date back to an even earlier period by stating that it ’ randomness using has not been democratic as it was only used in more privy areas that have been wiped from this earth .

source : https://ontopwiki.com
Category : Finance

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