Why are Lydian coins important?

Why are Lydian coins important?

For numismatists and numismatic historians, the importance of Lydian coinage is the novel idea that striking or stamping a piece of precious metal with a “State seal” of sorts could confer official status on it as money, indicating the State’s willingness to accept the piece as payment.

What are the Lydians most famous for?

The Lydians were said to be the originators of gold and silver coins. During their brief hegemony over Asia Minor from the middle of the 7th to the middle of the 6th century bc, the Lydians profoundly influenced the Ionian Greeks to their west.

What was the Lydian system’s breakthrough?

The Lydian system’s breakthrough was the standardized metal coin.

Why did the Lydians invent money?

Coinage probably developed in Lydia because it was a trading centre and possessed large gold supplies. Before coins, payments were made with metal bullion or by barter. To establish its value metal was checked for purity and weighed. The Lydians minted coins of consistent weight and purity to speed up transactions.

What country is Lydia now?

republic of Turkey
Lydia was captured finally by Turkish beyliks, which were all absorbed by the Ottoman state in 1390. The area became part of the Ottoman Aidin Vilayet (province), and is now in the modern republic of Turkey.

Who did invade the Lydian kingdom?

Hellenistic & Roman Period Lydia was conquered by Alexander the Great in the 4th century BCE. In the Successor Wars, it first came under the control of Antigonus I and then became a part of the Seleucid Empire in c. 280 BCE.

Is Lydia a Greek name?

Lydia is a feminine first name. It derives from the Greek Λυδία, Ludía, from λυδία (ludía; “beautiful one”, “noble one”, “from Lydia/Persia”), a feminine form of the ancient given name Λυδός (Lydus).

What country is Lydia today?

Under Turkish rule. Lydia was captured finally by Turkish beyliks, which were all absorbed by the Ottoman state in 1390. The area became part of the Ottoman Aidin Vilayet (province), and is now in the modern republic of Turkey.

How did the Lydians change the currency system?

In the mid-6th century BC, King Croesus of Lydia introduced a bimetallic coin system: simultaneously circulating gold and silver coins. One reason for this change of coinage might have been that the ratio of silver and gold in electrum is not constant.

Is white gold an electrum?

Electrum is a naturally occurring alloy of gold and silver, with trace amounts of copper and other metals. The ancient Greeks called it “gold” or “white gold”, as opposed to “refined gold”. It has been produced artificially, and is also known as “green gold”.

What kind of money did the Lydians use?

The first Lydian coins were the size of beans. They were made of a naturally occurring mixture of gold and silver called electrum. All the coins were the same weight and, therefore, had the same value. Long before coined money, traders had relied on barter, the exchange of one good or service for another.

Where did coinage take off after the Lydian experiment?

Following the Lydian experiment, coinage did not take off anywhere for 80 years and when it did it was in mainland Greece. Only with Alexander of Macedonia’s conquests in the late 4th century B.C. did coinage spread widely in the entire region to the north and south of Greece and to the east deep into central Asia.

When was the first Lydian stater coin made?

The Lydian Stater was the official coin of the Lydian Empire, introduced before the kingdom fell to the Persian Empire. The earliest staters are believed to date to around the second half of the 7th century BCE, during the reign of King Alyattes (r. 619-560 BCE).

Who was the king of Lydia who invented coins?

Experts often call these early royal coins croesids in honor of King Croesus, who governed Lydia from about 561 to 546 BCE. The innovation spread rapidly, probably abetted by the demands of Greek mercenaries for payment in money that could easily and quickly be spent or stored without losing its value.