History of metallic money

Even historians and numismatists cannot unambiguously name the date of the origin of money. Researchers are recovering data from surviving ancient writings by studying monetary prototypes. Shovels, and hoes, and knives acted as money. Money was stone, salt bars, in the form of feathers, shells, which were paid from the European, African continent and the island states of the Pacific and Indian Oceans.

History of appearance

It is believed that the first metal money was invented in China. In this ancient country, money began to be used around 600 BC. Metal money then looked like round plates and had a small circumference. In addition, they had a hole in the middle for ease of use. They were minted from iron or based on its alloy. To indicate the weight of each coin, characteristic patterns and drawings were applied to them. This was the denomination of the coin. This method of minting money with a hole in the center was used in ancient China until the 20th century AD. Similar coins can be found today – they are used as talismans that attract good luck for prosperity and wealth. As for the European continent, then there the first metal money appeared on the territory of the countries of ancient Europe around 687 BC. They looked like round plates with an irregular shape. They were made of metals with a displaced patterned pattern. Europeans made their money from electron, which is an alloy of silver and gold. The engraved patterned drawing looked like a coat of arms or a stamp indicating the dynasty of local authorities. This label contained indications with the exact weight of the coin with a trade equivalent. Regarding the country that was the first to issue such metal money, Lydia is considered to be her. This is the ancient name of the modern territorial part of Turkey. Half a century later, in 640-630 BC, these round coins were widely distributed throughout almost the entire European territory. They looked like round plates with an irregular shape. They were made of metals with a displaced patterned pattern. Europeans made their money from electron, which is an alloy of silver and gold. The engraved patterned drawing looked like a coat of arms or a stamp indicating the dynasty of local authorities. This label contained indications with the exact weight of the coin with a trade equivalent. Regarding the country that was the first to issue such metal money, Lydia is considered to be her. This is the ancient name of the modern territorial part of Turkey. Half a century later, in 640-630 BC, these round coins spread widely throughout almost the entire European territory. They looked like round plates with an irregular shape. They were made of metals with a displaced patterned pattern. Europeans made their money from electron, which is an alloy of silver and gold. The engraved patterned drawing looked like a coat of arms or a stamp indicating the dynasty of local authorities. This label contained indications with the exact weight of the coin with a trade equivalent. Regarding the country that was the first to issue such metal money, Lydia is considered to be her. This is the ancient name of the modern territorial part of Turkey. Half a century later, in 640-630 BC, these round coins spread widely throughout almost the entire European territory. Europeans made their money from electron, which is an alloy of silver and gold. The engraved patterned drawing looked like a coat of arms or a hallmark indicating the dynasty of local authorities. This label contained indications with the exact weight of the coin with a trade equivalent. Regarding the country that was the first to issue such metal money, Lydia is considered to be her. This is the ancient name of the modern territorial part of Turkey. Half a century later, in 640-630 BC, these round coins spread widely throughout almost the entire European territory. Europeans made their money from electron, which is an alloy of silver and gold. The engraved patterned drawing looked like a coat of arms or a stamp indicating the dynasty of local authorities. This label contained indications with the exact weight of the coin with a trade equivalent. Regarding the country that was the first to issue such metal money, Lydia is considered to be her. This is the ancient name of the modern territorial part of Turkey. Half a century later, in 640-630 BC, these round coins were widely distributed throughout almost the entire European territory. Regarding the country that was the first to issue such metal money, Lydia is considered to be her. This is the ancient name of the modern territorial part of Turkey. Half a century later, in 640-630 BC, these round coins were widely distributed throughout almost the entire European territory. Regarding the country that was the first to issue such metal money, Lydia is considered to be her. This is the ancient name of the modern territorial part of Turkey. Half a century later, in 640-630 BC, these round coins were widely distributed throughout almost the entire European territory.

It should be said that around the 3rd century BC, Roman money was called metal money made of gold – coins minted in the temple of Juno-Coins.

Development of forms of metallic money

Ancient metal money of different shapes

One of the earliest forms of metallic money is bullion with a different shape, but a specific weight. In this connection, the names of most monetary units were tied to the units of their mass. For example, pound sterling, pound or livre, half a pound and others. Externally, metal money looked varied. So, iron money for a long time was in the form of a hoe, a rod, a spade, etc. Copper – in the form of a cauldron, shield bell, etc. Money made of silver and gold – in the form of a ring, necklace and other things. When a coin appeared in the 7th century BC, the most important period in the formation of types of money began. The coin is a peculiar result of the evolution of the production of goods and their exchange. Its first issues were made of gold with the image of the face of Alexander the Great. In order to increase the credibility of the metal, pieces or ingots began to be made with a fixed weight, which was indicated by a stamp from the state. Coins streamlined pricing processes – the price dimension was now determined by the nominal dimension of money. The obverse side of the coin henceforth became known as the obverse. The denomination of the monetary unit was minted on it. The reverse side was called the reverse with symbols of religion or state. The edge of the coin was named as edge. All coins ideally corresponded to the primary 5 requirements for the product. And despite this, coin money also had its drawbacks: for example, from their long circulation, they were erased. Coins lost mass, becoming no longer with the denomination originally minted on the front side of the money. Therefore, the true weight of the coins was not the main argument confirming their reliability. For example, very worn out metal money continued to be spent and circulated at its original face value. This practical experience led to the fact that in the early Middle Ages the authorities intentionally spoiled the coins. After the coin was minted with a smaller mass, in comparison with that which corresponded to its face value, as well as with the smallest inclusion of dredges. metals in the total weight of the alloy.

Types of metal money

Golden coin among plain metal money

Money was divided into two main types: full and defective coins. The first was called money, whose value at face value was equal to the price of the precious metals contained in the coins. Such money was functionally the universal equivalent. The latter were initially minted as small change coins for full-fledged money. At face value, their value was higher than the value of the metals from which they were made. The speed of circulation of such money was high, and therefore defective coins quickly wore out. The gold standard for minting coins is considered to be technology using silver, gold and non-precious metals.

Today, money minted from various metal alloys and aluminum is used as change coins.