Lydian electrum coins

The kingdom of Lydia, in modern Turkey, minted stamped coins of electrum, a natural gold and silver mix, between about 650 and 600 BCE. They are widely seen as the first coins in the West.

Scholars debate the exact date; some place the first Lydian coins soon after 650 BCE.

Context

Lydian coins were struck from electrum, a naturally occurring mix of gold and silver found in the region's rivers. They were small, thick, roughly bean-shaped pieces of about 7 to 8 grams, with a design stamped on one side to show that an authority guaranteed the piece.

Dating is uncertain. Britannica places the beginning of true coinage soon after 650 BCE, while the figure of about 600 BCE is a commonly used round date. Evidence from the foundation deposit of the temple of Artemis at Ephesus shows that electrum coins existed before the reign of Croesus, who ruled around 560 to 546 BCE. Scholars debate whether King Gyges or Croesus issued the earliest ones.

Croesus is later linked to coins in pure gold and pure silver, though some recent research proposes that this bimetallic series came after his reign. Because Lydia was one of several places experimenting, 'first coins' is best read as 'among the earliest known'.

Coins spread quickly after Lydia, as Greek city-states and later the Persian empire adopted the idea, and the habit of putting a ruler's or city's emblem on money has continued ever since.