The following article is reprinted from about.com's Ancient Coin section.

As everyone knows, coins are a form of money or medium of exchange. In addition to coins and paper currency as we now know them, a wide variety of items have been used as money at different times in history, both prior to and after the invention of coins. These items have included, beads, cigarettes, feathers, ivory, cattle, salt, shells, thimbles and wampum.

The First Coins



Coins, as we know them today, have been around for almost 3000 years. It is believed that true coinage was invented around 630 BC in Asia Minor as a result of the practice in the ancient state of Lydia (now western Turkey) of stamping round pieces of precious metals with a seal or symbol as a guarantee of their weight and purity. The earliest coins struck in Lydia were composed of a predetermined weight of an alloy of gold and silver. Each coin blank was struck with a hammer between two engraved dies and usually depicted a symbol of the state ruler on the obverse and a simple lion head design, the symbol of Lydia, on the reverse. They are considered to be the world's first true coins because they were struck of metal of a predetermined weight and purity and issued under the authority of the King or ruler of the state. This came to be regarded as a guarantee of their value.

Ancient Greek Coinage



The minting of coins spread rapidly from Lydia to the city states of ancient Greece. Around 600 BC , the island of Aegina produced what are believed to be the first Greek coins. These coins were known as silver drachmae and obols and depicted a turtle on the reverse, the symbol of Aegina.

The nearby Greek city state of Cornith soon followed Aegina and produced drachmae coins with the legendary figure of the winged horse Pegasus on the reverse.

The largest of the Greek city states was Athens which around 610 BC began producing very artistic coins often featuring an amphora or wine vessel design.

Alexander the Great (336-323 B.C.) established the practice of coinage throughout the Hellenic empires. His successors introduced portraits as a regular feature of their coinage designs thereby recording for posterity many images of ancient kings and rulers.

Ancient Roman Coinage



The Romans were the next major state to establish coinage on a large scale. It is usual to date the first Roman coins from 269 BC when a mint for the striking of gold, silver and bronze coins was established in Rome.

Ancient Roman coinage often depicted a portrait of the then ruling emperor and, in some cases, members of the imperial family as well. These Roman "portrait" coins were skillfully engraved and are wonderful pieces of art and of interest to the historian.

Early Roman coins were often employed to disseminate political propaganda. The inscriptions on the reverses of the coins frequently proclaimed the emperor's civic achievements or military triumphs. In some cases, very important events, such as the assassination of Julius Caesar, were depicted on the coinage.

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