The "First" coins came about somewhere in the seventh century BC. It would be hard to say who was first and who has bragging rights. But there were three areas that at about the same time started using coins.

Lydia (now in modern day Turkey), with the "Electrum" coins (a naturally occurring mix of silver and gold) which were circular.

(www.coinarchives.com)

China, with Bronze "coins" shaped like knives (called knife money).

(www.calgarycoin.com)

Indus Valley (now Pakistan), with their silver bars used as coins.

(www.rbi.org.in/currency/museum/c-ancient.html)

As you can see, with different metals and different shapes, three distinct cultures at roughly the same time developed units of commerce.

And of course you have some that argue sea shells and other items should be considered the earliest form of coins or units of commerce. As you can see it can become a slippery slope very quickly.

We will instead focus on what we now consider coins and work our way through some of the major periods of coinage of the ancient world.

What exactly is an Ancient Coin?

It is actually easy on a general level anything that is earlier than about the 1500's is considered an ancient coin (some will argue the middle ages started somewhere between 500-1500 AD). From the general level it appears to be easy and it really is! Where it gets really interesting is when you start looking deeper.

One step down you start breaking out the "major" era's, Greek, Roman, Byzantine, Celtic, Judean and even at this level it seems pretty straight forward. But your quest has just begun.

Let's follow one level down for a little detail:

Ancient Coins -> Roman: For an example (an area I am more familiar with). If you start to explore Ancient Roman Coins you will soon find Roman Republican, Roman Imperatorial, Roman Imperial, Roman Provincial, Romaion or Byzantine .... yikes!

So we'll go one more level deep to see what we have:

Ancient Coins -> Roman -> Imperial: When you open that can of worms you find centuries of coins that start in 27 BC and running until about 476 AD.

So we go one more:

Ancient Coins -> Roman -> Imperial -> Third Century:

You waltz into the second century and find a controlled Chaos that is fascinating. Emperors are made and generally come from the Military. There is internal strife, a crumbling system, high inflation, barbarian invasions, deception and coins.

So we go one more:

Ancient Coins -> Roman -> Imperial -> Third Century -> Emperor Aurelian:

Here you find in this "small" subset of Ancient Roman Imperial coins from the rule of Aurelian (270 - 275 AD). Five short years.



You will find coins of all sorts of denominations, metals, shapes, people, animals, buildings, tools, weapons, symbols, Latin, Greek, deities .. just about anything.

You will find the pattern discussed above in most of the high level categories. Some are perhaps not as deep or as confusing and didn't last as long. But almost all of the Era's of coins have fascinating histories and imagery.

For the Greeks it was the rise, achievement and decline of art on coins. I don't know that you will find greater works of art on coins.



For the Romans it was a propaganda tool from the very start. It was taboo for a person to be displayed .. then it was the in thing. You proclaimed your achievements ..real or imagined. You trumpeted your service to the country, the loyalty of the troops and the support of the senate. Sometimes you showed off your wife, your children, your relatives even your friends. It was a mix between the Wall Street Journal and The National Enquirer.

Here is a coin of Aurelian showing VICTORY on the reverse of the coin.

Now for some pictures! (the fun part)

Bactrian Square Coin & Byzantine Cup Coin



Celtic imitation & Olbia Dolphin Money



Greek Coin & Parthian Coin



Sasanian Coin & Roman Imperatorial Coin



Roman Republican Coin & Roman Provincial Coin

Nowadays, coins can be found anywhere monetary transaction occurs. Coins are a part of our everyday lives and to be without them is unimaginable.

A distinguishing mark of a free nation is the right to issue coins. In the United States, that right was exercised in 1792, when Pattern Coins were first issued. During 1793, copper coins were circulated, followed by silver and gold coins. Before 1972, business was conducted using a combination of tokens, counterfeits, coins and medals issued by private individuals, in private mints inside America and in official mints found outside the country. These coins are known as "Colonial."

The origin of ancient coins in the Mediterranean region lacked evidence and remains a source of speculation. Chinese coins developed independently near the end of the sixth century. By then, Mediterranean coins were already established. The Greeks were credited for the development of the first coins in the Greek city states of Asia Minor or the Lydian kingdom.

One indication that the earliest electrum coins originated from Lydia is the distribution of standards of weights that they follow. Other indications that Lydia had played a part in the origin of coins in the Mediterranean is the earliest known coin depicts an origin typical of Lydia The Ephesian Artemisium, the temple dedicated to the Goddess Artemis and others found throughout Asia Minor are always made of electrum. The peculiarity of the use of electrum for the first coins may be attributed to its natural occurrence in Lydia. Presumably, Lydian style coins were found in both Phrygia and Ionia, indicating that the popular use of the coinage. The reason or the motivation behind the minting of the first coins remains uncertain. Recently, a mounting abundance of a small fraction of electrum in coinage has been found. This probably indicates that the first coins were minted primarily for big transactions.

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• He has lots of coins graded MS75 to MS160
• He calls "slabs" those clear, coin holder thing-a-ma-bobs
• He works out of the back of a 57' Chevy station wagon.
• He says he learned to grade coins by watching HSN.
• He makes his own slabs out of Crisco hardened in a kiln.
• His name is Shifty Two-Face and used to be a lawyer.
• He has authentic St. Gaudens Double Eagles starting at twenty cents.
• He sells Washington error dollars with a rim, but no coin.
• He makes his own slabs out of Crisco hardened in a kiln.
• He refers to the "Red Book" as that over-rated guide he never reads.
• He has a plaque that says he graduated from The New Mismatist School
• He has proof sets where the coins are sealed in saran wrap.
• He already has all the Presidential dollar coins, including Franklin.
• He has a few rare Roman coins that say 250 B.C.
• He uses a grading company called the ALTCC (Acme Looney Tunes Coin Corporation)
• He can smokes a cigar the whole time he's showing you his valuable silver certificates.
• He only accepts cash and that's with plenty of I.D.
• He has a no returns, no refunds, no guarantee, and an "I've-never-seen-you-before" policy.

Well, you may have your own issues with certain dealers but forewarned is fore-armed. You might be better off keeping your money under the mattress than working with an unscrupulous dealer. Check with the Better Business Bureau or, if it sounds too good to be true, run, don't walk to the nearest exit.

Jeffrey Hauser was a sales consultant for the Bell System Yellow Pages for nearly 25 years.
He graduated from Pratt Institute with a BFA in Advertising and has a Master's Degree in teaching. He had his own advertising agency in Scottsdale, Arizona and ran a consulting and design firm, ABC Advertising. He has authored 6 books and a novel, "Pursuit of the
Phoenix." His latest book is, "Inside the Yellow Pages" which can be seen at his website, http://www.poweradbook.com. Currently, he is the Marketing Director for http://www.thenurseschoice.com a Health Information and Doctor Referral site.

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