29 July 2007
Who Invented Coins?
The first coins were minted in the seventh century B.C. by the Lydians. These coins were made of ‘electrum’, a natural composition of 74 per cent gold and 25 per cent silver. They were about the size and shape of a bean and were known as Staters’ or ‘standards’.
The usefulness of standard metal money instigated the Greeks to make coins, too. Greek coinage lasted fro about 500 years. Gold coins were the most valuable, followed by silver and copper. The Romans adopted the idea and carried it on for about another 500 years. Then the art of coinage declined. It got revived again in 5th century. Thereafter, various types of coins, having different weights and designs kept on evolving.