Coins in history

Coins were born of a twofold evolution, as societies grew more complex and economies more sophisticated. They made it possible to replace the old systems of barter and exchange with a standard value recognized by all. At the same time, they delivered a strong political message, by asserting a national or local identity to a wide audience. Originally, the value shown on the coins (face value) corresponded to that of the metals of which they were made. Gradually, however, they came to represent a virtual value that no longer bore any relation to their constituent elements. Coins have constantly evolved over the centuries, their modifications reflecting political changes or economic circumstances. They are therefore invaluable to archaeologists, as they can often be dated with extreme precision. Stratigraphic techniques enable these coins to be used to situate other objects, or even entire sites, in time.

Minting a coin

The production of coins was soon concentrated in the hands of specialized manufacturers. Because of the value of the original materials, their activity was strictly regulated, and the coins leaving their workshops were subject to strict control by the rulers.
At the end of the eighteenth century, before mechanization, coinage production took a very long time, as cutting and stamping were carried out manually, piece by piece:

• Blanks are cut from a piece of metal that has first been flattened to the desired thickness. This metal blade must be reheated frequently to preserve its malleability.
• The metal blade is cut into strips, then into small squares. The corners of these squares are cut into circular blanks using large shears. All scrap metal is remelted for reuse.
• The pattern is stamped. A first stamp is embedded in a support, then capped with the blank. A second stamp is placed on top of the disc, and the upper stamp is hammered to produce impressions on the obverse and reverse.

Lydian coins

700 BC

The earliest known Lydian coins date back to the seventh century BC. Originating in Lydia, in present-day Turkey, they were made of electrum (an alloy of gold and silver). The weight of the metal corresponded exactly to the value of the coins, which was guaranteed by the stamping bearing the mark of the kings of Lydia. At the time, there were staters (1 statere weighed 14 g), half-staters and quarter-staters. Later, coins were minted in either gold or silver, with the gold ones weighing twice as much as the others. These respective weights were the basis of the standards used for Persian coins.



Features
The finished coin has an irregular shape. Each coin has a standardized weight. The stamp guarantees the value.

Roman coins

300 BC

Originally, Roman coins were copied from those of the Greeks: however, emperors were quick to produce gold, silver and bronze coins in their effigy. Coins were also issued to celebrate important events, such as victories or festivals: all these coins can be found as far away as India.




Features
Different metals correspond to different values. Coins bearing the effigy of emperors. Legends indicating their name and title, as well as the date of manufacture.

Early Middle Ages Coins

From 650 AD

During the High Middle Ages, the circulation of coins was severely restricted by the collapse of the central governments that controlled the minting of money in many regions. Coins were then produced by coin changers or smaller areas. As a result, they are much rarer. Many coins from Western Europe were found in Scandinavia: they had been collected by the Danish invaders in payment of taxes. On the coins of the early Middle Ages were the indication of the minting workshop, the name and effigy of the local ruler.




Features
Most coins minted during the early Middle Ages were silver. The diversity of the pieces was very large, there are only few copies of each model.

The Groat and the Noble

Fourteenth century

As trade developed during the medieval period, the English introduced, next to the silver penny, coins of a higher value. The gold noble thus represented 80 pennies of silver, while the silver groat was worth only 4.




Features
Parts containing more metal, increasing their value, and with complex imprints. Increase in the number of coins in circulation.

Thaler of money

Sixteenth century

In the sixteenth century, the silver mines of Bohemia were used for the production of large pieces called thalers. Each of them bore the effigy of the duke governing a given region, as well as the date of striking clearly indicated. The word thaler is derived from the dollar term.



Features
Silver coins, always large. Very diverse effigies of local leaders. Legends make it easy to date coins.

Wagon wheel part

End of the Eighteenth Century

The first official British coin was minted in 1672. In the eighteenth century, there was a shortage of parts caused by an increase in demand due to industry. Many then embarked on counterfeiting, either by making coins themselves, or by resealing silver coins from other countries. This situation led in 1797 to grant Matthew Boulton an official licence to manufacture 1 and 2 pence copper coins. These were mass-produced by steam, and therefore standardized. Originally, their value was equivalent to their copper weight. In 1881 Boulton began producing lighter pieces and a mechanized striking unit was built on Tower Hill in London.


Features
Mechanical production. Parts containing a specific weight of copper. Contour and regular patterns.