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Origin and history of the coin

It was not until the 5th century B.C. that the Phoenicians did not use coins in their transactions: they began to do so on the date indicated, coinciding with the Medical Wars between Persia and Greece.

In Egypt, it became widespread and money was beaten regularly during the Aryandes satrapy as a form of payment between Greek and Phoenician merchants from Memphis and Naucratis.

Alexander the Great was the first to put his effigy on a coin, since before him the kings had limited themselves to recording his name.

Most likely, the use of the coin arose in the Mediterranean and then spread throughout the interior of Europe and Asia to become a must-have for commercial life.

In Ancient Rome, the coinage was introduced in the 5th century BC, and had on the obverse the head of the titular goddess of the city with the winged helmet, and on the reverse the Dioscuri on horseback. At that time, a pound of silver was enough to mint a hundred dinars.

Around the year 500 a. C. began to circulate the gold coin in Rome, whose mint seems to be next to the temple of Juno, goddess nicknamed Moneta, from where by popular etymology it derived to coin.

However, over the centuries, the value, the law, the purity of the coin declined, it was adulterated. During the Roman Empire copper was added to gold, so much so that by the 3rd century coins, supposedly gold, only contained 2 percent of this mineral.

It is known that in Spain, Iberians minted coins, but they were copies of the Roman times of the Republic. In them, there are Iberian voices that alternate with Latin words, appearing numerous symbolic elements such as the ear of wheat, the fish, the palm, sphinxes, and the head of the Iberian Hercules or horses.

In medieval Europe, there was a return to the purity of metal, alloys were rejected and the number of mints was staggering, with a huge number of different coins circulating, as the power to mint was held not only by the state but also by cities and some important families.

They were badly stamped coins, made with rudimentary methods. It seems that the first coin-minting machine worked in Paris in 1553.



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