A History of the World in 100 Objects
Gold Coin of Croesus
Feb 19, 2010
Explore the origins of coins and the power of money, including the creation of early coins in China and the Mediterranean. Learn how King Croesus minted pure gold and silver coins to solve the problem of mixed metals. Discover the invention of coinage and its importance in guaranteeing value and the downfall of Croesus.
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Quick takeaways
- Coins facilitated trade and economic growth, allowing Lydia to become immensely prosperous.
- The invention of coinage revolutionized trade, marked the beginning of modern political thinking, and changed people's perception of themselves.
Deep dives
The Early Origins of Coinage
Coins arrived relatively late in the history of the world, with states and trade networks functioning for over 2,000 years without them. However, in China and Lydia (now western Turkey), coinage independently emerged around the same time. The Lydians minted gold coins of various sizes, featuring symbols like lions and bulls, which represented both wealth and political power. The introduction of coins facilitated trade and economic growth in cosmopolitan cities like Sardis, where trust between strangers was necessary. The creation of reliable currency allowed Lydia to become immensely prosperous.
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