Ancient Coins: The Greek Currency

The barter system has been prevalent around the world in ancient times until the discovery and adaptation of coinage. Traders exchanged goods from all over the world; they crossed lands and seas. While barter may have been what our ancestors were most accustomed to, the flipside of carrying huge amounts of materials and resources made the people rethink the system. What other ways were there to exchange and trade without having to carry so much as they traveled from one place to the other?

The answer was a coin. Since precious metals like silver and gold were abundant, they were molded and shaped into coins that signified a certain amount of value. Numismatists argue that the first coins ever minted were from Aegina.

Greek states like Aegina, Miletus, and Samos were known to mint coins for the Egyptians. While this may be true, there are still debates that the first coins (which were made from electrum-- an alloy of gold and silver) were made from Lydia.

Nonetheless, the Greeks were considered advocates of using coinage and they spread the influence to the many parts of the world, starting from Asia Minor. The Greek capital, Athens, used a currency called drachma. The drachmas were silver coins, as the Greeks minted mainly silver over gold coins. Because of the developed and wide trade networks of Athens, the drachmas were widely used as a currency. Even since ancient times, coin values were dictated by the power and stability of one country’s economy, which gave Greeks an advantage.

Drachmas earned everyday varied depending on occupation. Doctors and sculptors averaged within 6 drachmas a day, while non-skilled workers earn half a drachma. Obol was considered a value of one-sixth of a drachma, and one obol could get you a loaf of bread during ancient times.

Some of the most famous drachmas in history are the following:

1. The Athenian Tetradrachm
It was the most widely used coin by Greeks before the era of Alexander the Great. The coin featured the profile bust of the goddess, Athena, on the obverse and an owl on the reverse. This coin was also known as four drachmae.

2. The Greek Drachma (Chelones) of Aegina
These silver coins were minted dating from 550 - 700 B.C. The older ones often featured turtles.

3. The Silver Drachma of Delos
These coins were minted sometime 550 B.C as well, and they featured a lyre on the reverse, which represented the god Apollo.

Ancient coins are valued highly for their historical value. If you are a collector and are wanting to have your very own ancient Greek coin added to your collection, then look no further than Colonial Acres Coins. They have ancient coins including both Roman and Greek coins. Make your coin collection an even more wonderful set with your very own Greek coin.