This suggests that before coinage came to be used in Greece, spits in prehistoric times were used as measures in daily transactions. Drachmae were divided into six obols (from the Greek word for a spit ), and six spits made a "handful". The word drachm(a) means "a handful", literally "a grasp". The three most important standards of the ancient Greek monetary system were the Attic standard, based on the Athenian drachma of 4.3 grams (2.8 pennyweights) of silver, the Corinthian standard based on the stater of 8.6 g (5.5 dwt) of silver, that was subdivided into three silver drachmas of 2.9 g (1.9 dwt), and the Aeginetan stater or didrachm of 12.2 g (7.8 dwt), based on a drachma of 6.1 g (3.9 dwt). Weight standards and denominations įurther information: Attic weight Denominations of silver drachma The coins produced during this period are called Roman provincial coins or Greek Imperial Coins. The Greek cities continued to produce their own coins for several more centuries under Roman rule. The Classical period then began, and lasted until the conquests of Alexander the Great in about 330 BC, which began the Hellenistic period, extending until the Roman absorption of the Greek world in the 1st century BC. The Archaic period extends from the introduction of coinage to the Greek world during the 7th century BC until the Persian Wars in about 480 BC. The history of ancient Greek coinage can be divided (along with most other Greek art forms) into four periods: the Archaic, the Classical, the Hellenistic and the Roman. 545–525/515 BC Archaic coin of Athens with effigy of Athena on the obverse, and olive sprig, owl and ΑΘΕ, initials of " Athens" on the reverse. Greek coins from the Archaic to Roman Imperial periods The earliest coinage of Athens, c.
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