Article image
Article image
This article displays in one automatically-generated column. View the full page to see article in its original form.

The First Coined Money.

Coined money is a very ancient invention. When precious metals—gold, silver, copper, or iron—began to be used for payment, they wore at first simply weighed. Even we still speak of a pound instead of a sovereign. The next step was to issue pieces of gold and silver properly weighed, and then to mark the exact weight and value on each piece. This was done in Assyria and Babylonia, where we find shekels or pounds of gold and silver. It was the Greeks, the Greeks of Phocma, in lonia, who in the seventh century u.0., first conceived the idea of coining money, that is, of stamping on each piece their city arms, the phoca or seal, thus giving the warranty of their State for the right weight in value of those pieces. From Phocsea, this art of coining spread rapidly to the other Greek towns of Asia Minor, and was thence transplanted to Angina, the Peloponnesus, Athens, and the Greek colonies in Africa and in Italy. The weight of the most ancient gold coin in all these countries was originally the same as that of the ancient Babylonian gold shekel, only stamped with the arms of each country, which thus made itself responsible for its proper weight. And this gold shekel or pound, in spite of historical disturbances, has held its own through centuries,

This article text was automatically generated and may include errors. View the full page to see article in its original form.
Permanent link to this item

Bibliographic details

The First Coined Money., Issue 7987, 16 August 1889

Word Count

The First Coined Money. Issue 7987, 16 August 1889

  1. New formats

    Papers Past now contains more than just newspapers. Use these links to navigate to other kinds of materials.

  2. Hierarchy

    These links will always show you how deep you are in the collection. Click them to get a broader view of the items you're currently viewing.

  3. Search

    Enter names, places, or other keywords that you're curious about here. We'll look for them in the fulltext of millions of articles.

  4. Search

    Browsed to an interesting page? Click here to search within the item you're currently viewing, or start a new search.

  5. Search facets

    Use these buttons to limit your searches to particular dates, titles, and more.

  6. View selection

    Switch between images of the original document and text transcriptions and outlines you can cut and paste.

  7. Tools

    Print, save, zoom in and more.

  8. Explore

    If you'd rather just browse through documents, click here to find titles and issues from particular dates and geographic regions.

  9. Need more help?

    The "Help" link will show you different tips for each page on the site, so click here often as you explore the site.