Coins

Nowadays, coins can be found anywhere monetary transaction occurs. Coins are a part of our everyday lives and to be without them is unimaginable.

A distinguishing mark of a free nation is the right to issue coins. In the United States, that right was exercised in 1792, when Pattern Coins were first issued. During 1793, copper coins were circulated, followed by silver and gold coins. Before 1972, business was conducted using a combination of tokens, counterfeits, coins and medals issued by private individuals, in private mints inside America and in official mints found outside the country. These coins are known as \"Colonial.\"

The origin of ancient coins in the Mediterranean region lacked evidence and remains a source of speculation. Chinese coins developed independently near the end of the sixth century. By then, Mediterranean coins were already established. The Greeks were credited for the development of the first coins in the Greek city states of Asia Minor or the Lydian kingdom.

One indication that the earliest electrum coins originated from Lydia is the distribution of standards of weights that they follow. Other indications that Lydia had played a part in the origin of coins in the Mediterranean is the earliest known coin depicts an origin typical of Lydia The Ephesian Artemisium, the temple dedicated to the Goddess Artemis and others found throughout Asia Minor are always made of electrum. The peculiarity of the use of electrum for the first coins may be attributed to its natural occurrence in Lydia. Presumably, Lydian style coins were found in both Phrygia and Ionia, indicating that the popular use of the coinage. The reason or the motivation behind the minting of the first coins remains uncertain. Recently, a mounting abundance of a small fraction of electrum in coinage has been found. This probably indicates that the first coins were minted primarily for big transactions.