Coinage

Definition

Coins were introduced as a method of payment around the 6th or 5th century BCE. The invention of coins is still shrouded in mystery: According to Herodotus (I, 94), coins were first minted by the Lydians, while Aristotle claims that the first coins were minted by Demodike of Kyrme, the wife of King Midas of Phrygia. Numismatists consider that the first coins were minted on the Greek island of Aegina, either by the local rulers or by King Pheidon of Argos.

More about: Coinage

Timeline

  • c. 700 BCE
    Coins first minted on the island of Aegina.
  • c. 635 BCE - 585 BCE
    Reign of Alyattes of Lydia. Minting of first coins made from electrum.
  • 600 BCE - 300 BCE
    Dionysos appears on the coins of Naxos, Mende and various other Greek city states.
  • 600 BCE - 550 BCE
    The silver stater coin of Calymna in Caria depicts a tortoise shell lyre on its reverse side.
  • 560 BCE - 546 BCE
    Reign of Croesus of Lydia.
  • c. 560 BCE
    Croesus of Lydia first manufactures coins of solid gold.
  • c. 550 BCE
    The silver drachma of Delos depicts a lyre - symbolic of Apollo - on its reverse side.
  • 470 BCE
    Gortyn on Crete begins to mint its own coinage.
  • c. 360 BCE
    Pan appears on the reverse of coins of the Arcadian League.
  • 326 BCE
    The first Roman coins are minted at Neapolis.
  • c. 211 BCE
    A new system of Roman coinage is introduced which includes the silver denarius.
  • c. 200 BCE
    Rome now dominates the production of coinage in Italy.
  • c. 157 BCE
    There is a boom in the production of Roman silver coinage, in part thanks to the acquisition of silver mines in Macedonia.
  • c. 141 BCE
    The Roman bronze as coin is devalued so that now 16 as equal one silver denarius.
  • c. 135 BCE
    The Roman magistrates responsible for coinage begin to stamp coins with images of landmarks, events and personalities.
  • c. 100 BCE
    Coins of Kos and Thespiai depict a lyre on their reverse side.
  • c. 46 BCE
    Julius Caesar mints the largest quantity of gold coins ever seen in Rome.
  • c. 23 BCE
    The brass orichalcum sestertius is first minted in Rome.
  • 16 BCE
    The Roman mint at Lugdunum is established.
  • 64 CE
    Nero reduces the weight and percentage of precious metal in Roman coins, a trend continued by several subsequent Roman emperors.
  • 293 CE
    Diocletian reforms the Roman coinage system, guaranteeing the gold aurei at 60 to a pound and minting the nummus coin.
  • 301 CE
    Diocletian reasseses the values of Roman coins and limits minting rights to between 12 and 15 mints across the empire.
  • 312 CE
    Constantine I introduces the gold nomisma (solidus) coin.
  • 708 CE
    Japan's first coinage, the Wado kaiho, is introduced.
  • 996 CE
    The first Korean coins are minted by the Goryeo Dynasty.
  • 1097 CE
    The Goryeo king, Sukjong, mints copper coins in Korea.
  • 1102 CE
    The Goryeo king, Sukjong, mints a second issue of copper coins in Korea.
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