Introduction of Coinage: What Happened
Around 600 BC, coins first appeared in Lydia, a wealthy kingdom in western Asia Minor, made from electrum, a natural mix of gold and silver. The idea spread quickly to the nearby Greek cities of Ionia and then across the Greek world. By around 550 BC, the island of Aegina was minting silver coins stamped with a sea turtle, among the first coins produced in mainland Greece, and these became widely used in trade. Corinth and Athens soon followed. Athens' famous silver tetradrachms, showing the goddess Athena on one side and her owl on the other, were made from silver mined at nearby Laurion and became one of the most trusted currencies of the ancient Mediterranean. Before coins, trade relied on barter or weighed amounts of metal. Standard coins, guaranteed by a city's stamp, made buying, selling, paying taxes and hiring soldiers much easier. Coinage helped Greek trade and city economies grow, and it gave each city a way to display its identity, as its chosen symbols traveled with its money throughout the Mediterranean.
Frequently Asked Questions
When were coins first used in Greece?
Coins first appeared in Lydia in Asia Minor around 600 BC and quickly spread to the Greek cities of Ionia. By around 550 BC, Aegina was minting some of the first coins in mainland Greece.
What were the first Greek coins made of?
The earliest coins in Lydia were made of electrum, a natural mix of gold and silver. Most Greek cities, however, minted silver coins, such as the turtles of Aegina and the owls of Athens.
What were the Athenian owls?
Athenian owls were silver tetradrachm coins showing the goddess Athena on one side and her owl on the other. Made from Laurion silver, they became one of the most trusted currencies of the ancient world.
Why were coins important in ancient Greece?
Coins made trade, taxes and payments much easier than barter or weighing metal. They helped Greek economies grow and let each city display its identity through the symbols on its coins.
Is the Athenian owl still used today?
Yes. The owl of Athena, copied from the ancient Athenian tetradrachm, appears on the Greek one-euro coin, linking modern Greece to its ancient currency.
