The First Currency(Coin) As a Medium of Exchange

The ancient kingdom of Lydia, flourishing in prehistoric times, created the world's first coins.

Initially, the coins were nothing more than pieces of metal with simple engravings, and they soon evolved into beautiful artistic engravings featuring characters from Greek mythology.

 

Lidya coin - social media

 

Ancient Lydians invented coins as a way to verify payment. Coins represent a fundamental change in the human world, as their invention represents an important part of the history of trade between peoples since 600 BC.

Lydia is an Anatolian kingdom with ancient Greek connections. According to the Greek Reporter website, it was natural for the coins produced there to be of shiny gold and silver.

 

Lydia Lion Head Solon - Gold Market Daily Updates

 

The official Lydian currency was the official currency of the thriving Lydian Empire for many years before falling into the hands of the Persian Empire.

The earliest form of coin we use today is believed to date from approximately the second half of the seventh century BC, during the reign of King Alyattes, who reigned in Lydia from 619-560 BC.

Lydian gold coins - Heritage Auctions

 

Numismatic historians agree that the Lydian coin was the first to be officially mined and served as a model for all subsequent coins almost everywhere.

Unlike the method used for barter, coins were first minted by a central authority or government and coins were made from this period.

Coins had real value when they were made from a precious metal like gold. The coins are also a surprising find because they are difficult to counterfeit and have great value in substance or by government decree.