Croesus ordered the creation of coins that were made of pure gold and silver, unlike the popular “electrum” coins of the day. By this time, through highly successful trading, Lydia had accumulated large stores of gold. This approach to minting coins soon caught on within the kingdoms and empires that traded with Lydia, particularly in Anatolia and Hellas (Greece).Ĭroesus of Mermnadae, the last king of Lydia (560-546 BC), further refined the practice. Created by a punch and bearing Assyrian symbolism and the Lydian lion, these coins were the unmistakable tender of the Lydian kingdom and its ruler. Smaller coins used only the right-facing lion with a sunburst at the top. The coins were minted in Sardis (or Sardes), the Lydian capital, with the foreparts of a lion (on the left) and a bull (on the right) facing one another. Importantly, this was also the first time that a coin was stamped with the marking of its country of origin. Although raw electrum stater coins were in circulation prior to this time, this was the first time coins were produced that were of a standardized composition, weight, and shape. It is believed that these coins were introduced during the reign of King Alyattes, who was sovereign from 619-560 BCE. To give it a more golden shine, a bit of copper was sometimes added. The Lydian’s strengthened the electrum by adding metals to it so that the balance was roughly 55% gold to 45% silver. The stater was made from a naturally-occurring alloy called, “electrum,” which is composed of gold and silver. , CC BY-SA 3.0, Link The Lydian Stater and Persian DaricĪccording to historians, the first coin issued by a nation’s government was the Lydian Stater, the official coin of the Lydian Empire (modern day eastern Turkey). View our soft and hard enamel die struck coins.By Classical Numismatic Group, Inc.After a long legal battle, the coin was sold at an auction on July 30, 2002, for $7,590,000. One of the coins resurfaced in the 1990's and the U.S. The coins were all melted down, except for a few that were stolen by a U.S. The coins were minted but were never released to the public due to the ending of the gold standard.
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