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History of coins

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Coin first

Postby Mekora В» 23.12.2019


Numismatics portal. A coin is a small, flat, usually, depending on the country or value round piece of metal or plastic used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by a government. Coins often have images, numerals, or text on them. Obverse and its opposite, reverse , refer to the two flat faces of coins and medals.

In this usage, obverse means the front face of the object and reverse means the back face. The obverse of a coin is commonly called heads , because it often depicts the head of a prominent person, and the reverse tails.

Coins are usually metal or an alloy , or sometimes made of manmade materials. They are usually disc shaped. Coins made of valuable metal are stored in large quantities as bullion coins.

Other coins are used as money in everyday transactions, circulating alongside banknotes. Usually the highest value coin in circulation excluding bullion coins is worth less than the lowest-value note. In the last hundred years, the face value of circulation coins has occasionally been lower than the value of the metal they contain, for example due to inflation.

If the difference becomes significant, the issuing authority may decide to withdraw these coins from circulation, possibly issuing new equivalents with a different composition, or the public may decide to melt the coins down or hoard them see Gresham's law. Exceptions to the rule of face value being higher than content value also occur for some bullion coins made of copper, silver , or gold and, rarely, other metals, such as platinum or palladium , intended for collectors or investors in precious metals.

While the Eagle, Maple Leaf, and Sovereign coins have nominal purely symbolic face values, the Krugerrand does not. Historically, a great quantity of coinage metals including alloys and other materials e. Metal ingots, silver bullion or unmarked bars were probably in use for exchange among many of the civilizations that mastered metallurgy. The weight and purity of bullion would be the key determinant of value.

In the Achaemenid Empire in the early 6th century BCE, coinage was yet unknown, and barter and to some extent silver bullion was used instead for trade. Coins were an evolution of "currency" systems of the Late Bronze Age , where standard-sized ingots , and tokens such as knife money , were used to store and transfer value. In the late Chinese Bronze Age , standardized cast tokens were made, such as those discovered in a tomb near Anyang.

Most of the early Lydian coins include no writing "legend" or "inscription" , only an image of a symbolic animal. Therefore, the dating of these coins relies primarily on archaeological evidence, with the most commonly cited evidence coming from excavations at the Temple of Artemis at Ephesus , also called the Ephesian Artemision which would later evolve into one of the Seven Wonders of the Ancient World , site of the earliest known deposit of electrum coins.

It took some time before ancient coins were used for commerce and trade [ citation needed ]. Even the smallest-denomination electrum coins, perhaps worth about a day's subsistence, would have been too valuable for buying a loaf of bread.

Many early Lydian and Greek coins were minted under the authority of private individuals and are thus more akin to tokens or badges than to modern coins, [13] though due to their numbers it is evident that some were official state issues.

The first electrum coins issued by a monarch are those minted by king Alyattes of Lydia died c. The successor of Alyattes, king Croesus r.

He is credited with issuing the Croeseid , the first true gold coins with a standardized purity for general circulation. Coins spread rapidly in the 6th and 5th centuries BCE, leading to the development of Ancient Greek coinage and Achaemenid coinage , and further to Illyrian coinage.

Standardized Roman currency was used throughout the Roman Empire. Ancient and early medieval coins in theory had the value of their metal content, although there have been many instances throughout history of governments inflating their currencies by debasing the metal content of their coinage, so that the inferior coins were worth less in metal than their face value.

Fiat money first arose in medieval China, with the jiaozi paper money. Early paper money was introduced in Europe in the later Middle Ages, but some coins continued to have the value of the gold or silver they contained throughout the Early Modern period.

The penny was minted as a silver coin until the 17th century. When Cyrus the Great — BC came to power, coinage was unfamiliar in his realm. Barter and to some extent silver bullion was used instead for trade.

Cyrus the Great introduced coins to the Persian Empire after BCE, following his conquest of Lydia and the defeat of its king Croesus , who had put in place the first coinage in history. With his conquest of Lydia, Cyrus acquired a region in which coinage was invented, developed through advanced metallurgy, and had already been in circulation for about 50 years, making the Lydian Kingdom one of the leading trade powers of the time.

The Persian Daric was the first truly Achaemenid gold coin which, along with a similar silver coin, the Siglos , represented the bimetallic monetary standard of the Achaemenid Persian Empire.

The Kabul hoard , also called the Chaman Hazouri hoard, [19] is a coin hoard discovered in the vicinity of Kabul , Afghanistan , containing numerous Achaemenid coins as well as many Greek coins from the 5th and 4th centuries BCE. According to numismatist Joe Cribb , these finds suggest that the idea of coinage and the use of punch-marked techniques was introduced to India from the Achaemenid Empire during the 4th century BCE. Punch-marked coin minted in the Kabul Valley under Achaemenid administration.

Circa — BCE, or c. Gandharan "bent-bar" punch-marked coin minted under Achaemenid administration, of the type found in large quantities in the Chaman Hazouri and the Bhir Mound hoards. Early punch-marked coins of Gandhara, Taxila - Gandhara region. The Karshapana is the earliest punch-marked coin found in India, produced from at least the mid-4th century BCE, and possibly as early as BCE, [26] influenced by similar coins produced in Gandhara under the Achaemenid empire, such as those of the Kabul hoard , [27] or other examples found at Pushkalavati and in Bhir Mound.

According to Aristotle fr. Rose and Pollux Onamastikon IX. This coin has a Greek legend reading phaenos emi sema [31] interpreted variously as "I am the badge of Phanes", or "I am the sign of light", [32] or "I am the tomb of light", or "I am the tomb of Phanes".

The coins of Phanes are known to be among the earliest of Greek coins, a hemihekte of the issue was found in the foundation deposit of the temple of Artemis at Ephesos the oldest deposit of electrum coins discovered. One assumption is that Phanes was a wealthy merchant, another that this coin is associated with Apollo- Phanes and, due to the Deer , with Artemis twin sister of the god of light Apollo -Phaneos. Alternatively, Phanes may have been the Halicarnassian mercenary of Amasis mentioned by Herodotus , who escaped to the court of Cambyses , and became his guide in the invasion of Egypt in or BCE.

According to Herodotus, this Phanes was buried alive by a sandstorm, together with 50, Persian soldiers, while trying to conquer the temple of Amun — Zeus in Egypt. Another candidate for the site of the earliest coins is Aegina , where Chelone "turtle" coins were first minted circa BCE. Lycia coin. Circa BCE. Struck with worn obverse die. Coin of Lesbos , Ionia. Circa —80 BCE. The Classical period saw Greek coinage reach a high level of technical and aesthetic quality.

Larger cities now produced a range of fine silver and gold coins, most bearing a portrait of their patron god or goddess or a legendary hero on one side, and a symbol of the city on the other.

Some coins employed a visual pun: some coins from Rhodes featured a rose , since the Greek word for rose is rhodon. The use of inscriptions on coins also began, usually the name of the issuing city.

The wealthy cities of Sicily produced some especially fine coins. The large silver decadrachm drachm coin from Syracuse is regarded by many collectors as the finest coin produced in the ancient world, perhaps ever. Syracusan issues were rather standard in their imprints, one side bearing the head of the nymph Arethusa and the other usually a victorious quadriga.

The tyrants of Syracuse were fabulously rich, and part of their public relations policy was to fund quadrigas for the Olympic chariot race , a very expensive undertaking.

As they were often able to finance more than one quadriga at a time, they were frequent victors in this highly prestigious event. Syracuse was one of the epicenters of numismatic art during the classical period.

Led by the engravers Kimon and Euainetos, Syracuse produced some of the finest coin designs of antiquity. Amisano, in a general publication, including the Etruscan coinage, attributing it the beginning to about BCE in Populonia , a chronology that would leave out the contribution of the Greeks of Magna Graecia and attribute to the Etruscans the burden of introducing the coin in Italy.

In this work, constant reference is made to classical sources, and credit is given to the origin of the Etruscan Lydia, a source supported by Herodotus, and also to the invention of coin in Lydia.

Aegina coin type, incuse skew pattern. Although many of the first coins illustrated the images of various gods, the first portraiture of actual rulers appears with the coinage of Lycia in the 5th century BCE. Coin of Themistocles as Governor of Magnesia.

Obv : Barley grain. Rev : Possible portrait of Themistocles. Circa — BC. Apart from two small and presumably late coins from the State of Qin, coins from the spade money area have a round hole and refer to the jin and liang units. Although for discussion purposes the Zhou coins are divided up into categories of knives, spades, and round coins, it is apparent from archaeological finds that most of the various kinds circulated together.

A hoard found in , near Hebi in north Henan province, consisted of: 3, Gong spades, 3 Anyi arched foot spades, 8 Liang Dang Lie spades, 18 Liang square foot spades and 1, Yuan round coins, all contained in three clay jars. The Hellenistic period was characterized by the spread of Greek culture across a large part of the known world. Greek-speaking kingdoms were established in Egypt and Syria , and for a time also in Iran and as far east as what is now Afghanistan and northwestern India. Greek traders spread Greek coins across this vast area, and the new kingdoms soon began to produce their own coins.

Because these kingdoms were much larger and wealthier than the Greek city states of the classical period, their coins tended to be more mass-produced, as well as larger, and more frequently in gold. They often lacked the aesthetic delicacy of coins of the earlier period. Still, some of the Greco-Bactrian coins, and those of their successors in India, the Indo-Greeks , are considered the finest examples of Greek numismatic art with "a nice blend of realism and idealization", including the largest coins to be minted in the Hellenistic world: the largest gold coin was minted by Eucratides reigned — BCE , the largest silver coin by the Indo-Greek king Amyntas Nikator reigned c.

The portraits "show a degree of individuality never matched by the often bland depictions of their royal contemporaries further West" Roger Ling, "Greece and the Hellenistic World". Coinage followed Greek colonization and influence first around the Mediterranean and soon after to North Africa including Egypt , Syria, Persia, and the Balkans. The currency of central Italy was influenced by its natural resources, with bronze being abundant the Etruscans were famous metal workers in bronze and iron and silver ore being scarce.

The coinage of the Roman Republic started with a few silver coins apparently devised for trade with Celtic in northern Italy and the Greek colonies in Southern Italy, and heavy cast bronze pieces for use in Central Italy. The first Roman coins , which were crude, heavy cast bronzes, were issued c. Set of three Roman aurei depicting the rulers of the Flavian dynasty.

The first European coin to use Arabic numerals to date the year in which the coin was minted was the St. Gall silver Plappart of Japanese local currency Genbun Inari Koban Kin, c.

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Re: coin first

Postby Kigalrajas В» 23.12.2019

First coins are circular ckin some were rectangular. They often lacked the aesthetic delicacy of coins of the earlier coin. This results in the following phenomenon: as the coin falls over and rolls on its edge, it spins faster and faster formally, continue reading precession rate of the symmetry axis of the coin, i.

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Re: coin first

Postby Kakinos В» 23.12.2019

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Re: coin first

Postby Jujind В» 23.12.2019

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Re: coin first

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Re: coin first

Postby Molrajas В» 23.12.2019

The Hellenistic period first characterized by the spread of Greek culture across a coin part of the known world. Shopping Information Littleton Rewards U. The relation of the images on the obverse and reverse of a coin is the coin's orientation. The United States is unusual in go here it has only slightly modified its coinage system except for the images and symbols coin the coins, which have changed a number of times to accommodate two first of inflation. The year of minting is usually shown on the obverse, although some Chinese coins, most Canadian coins, the pre British 20p coin, the post American quarterand all Japanese coins are exceptions.

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Re: coin first

Postby Tautaur В» 23.12.2019

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Re: coin first

Postby Dill В» 23.12.2019

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Re: coin first

Postby Kagat В» 23.12.2019

This process is known "forking" and usually results in the fifst of a new type of Bitcoin with a new name. Punch-marked coin minted in the Kabul First under Achaemenid administration. The shape and number of these punches varied according to coin denomination and weight-standard.

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Re: coin first

Postby Vizilkree В» 23.12.2019

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