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Since the creation of poleis as geographical-economic centres, coins are also appearing as a medium of transaction. Since they appeared in the |
The first mintings were of high value and were useful only in big markets. For example the stater, the ordinary coin made of electrum and weighing 14-16 grams, depending on each region's weight system, could represent the monthly salary of a mercenary. However, mintings of lower denominations in the region of Ionia began relatively early. The value of most Lydian coins -bearing the symbol of the lion head from Ephesus- corresponded to 1/3 of the stater's value. There were even smaller denominations equivalent to 1/48 or even 1/96 of the stater. |
The first coins were significant, probably due to their value as objects made of a precious metal. This concept was prevalent among the Greeks, but mostly among the peoples living around the Greek colonies. When coins began to be used as a medium of transaction, those that were mostly used, were those that had been made of simple metal. The so-called dolphins or coins representing fish and made of copper in Olbia, on the Black Sea, were spread among the peoples of the surrounding region, in the beginning of the
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