Valuations must have been set by the issuers-at least in most cases states or rulers-and effected by the guarantee of redeemability. Thus it can be shown that coinage served to fix and to stabilize the value of electrum. They were minted of electrum, an alloy of about 55 gold and 45 silver. The oldest coins were produced in Lydia (Turkey) in the second half of the seventh century BCE. By contrast, the carefully regularized weights of early coins imply that, regardless of metallic content, each electrum coin of similar size was to have had a particular value. Was there an Ionian revolt coinage Monetary patterns in the late archaic period / Ute Wartenberg Prolegomena to a die study of the. Counterfeiting started the moment the first coins were struck. The earliest known coins in the Western world were minted of electrum and it remained popular for coinage until about 350 BC. All coinage is accepted in Sembia, including copper and platinum Coinage Compendium - Sources->Basic Rules precious metals sometimes appear in treasure hoards. Electrum has been used as currency, to make jewelry and ornaments, for drinking vessels, and as an exterior coating for pyramids and obelisks.
Since the inconsistent and largely indeterminable gold content of electrum made its value uncertain, that metal must have been difficult to use as a means of exchange presumably its market value would also have fallen. electrum pieces are harmarks (commonly called blue eyes), and five-sided gold pieces are nobles. The explanation put forth here proceeds from the variable alloy (and susceptibility to dilution) of natural electrum, and the difficulty of determining that alloy in any given case. None of these explanations for the origin of coinage proves satisfactory, and current theories that coinage had some political or ideological purpose pertain only to the diffusion of coinage in Greece. Recently, it has also been proposed that early coins were bonus payments to employees at the end of service. Itll now take you to the send tab where you can set an appropriate fee and then click on Send to send the coins to your wallet. Explanations for the introduction of electrum coinage are of two main types: arguments of practical convenience, based on the premise that the standardized weights of coins eliminated the need for weighing bullion at each transaction and metallurgical arguments that the manufacture of coins only from electrum, with its variable gold content, was a means either for the state to deceive the public and make a profit, or for private issuers to guarantee the value they placed on particular coins. This coin is no exception, showing his portrait in a respectful, fine style and adorned with a laurel wreath, fit for the Father of Gods and men.
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