far as our knowledge goes from the discoveries as well as intensive research that has been made by historians and archeologists it is said that the Turks were the first to invent an actual currency that presents real monetary value. It has been said that many traders before the first gold coin would just trade in gold or silver nuggets by assuming their weight and comparing it to the value of the goods they were selling.
The creation of such a coin is referred back to even before the Iron Age Anatolia of the 6th century BC credited by the Kingdom of Lydia or what we now call Turkey. The invention was much needed in order to offer better trading as well as enhance the ease of making trades and with the Kingdom of Lydia being the wealthiest at the time (gold-wise) they decided to make a staple that would represent a currency of an exact amount of gold.
This coin was made up of electrum which is a natural mix of 44% silver and 56% gold which was said to be found in abundance within the local rivers. The first real gold coin is said to be in the 5th century BC, however, based on discoveries in ancient temples, it seems that even if these coins have been produced in the 5th century BCthey would not be used in commerce until the beginning of the 6th century BC.
Some historians even state that these gold coins have not been really used as coins at first but in some cases as ritual objects or even medals and badges. Even if each coin would have presented the same value, their weight would differ from 17 grams to even 12 grams and in this case, so would their shape. As presented by the first coin above, the shape would not be of an exact circle but quite edgy.
What was very important with these coins was the insignia on them, the lion attacking the bull is a symbol of royalty as the Kingdom of Lydia was very powerful, especially during the ruling of king Croesus from 561BC to 547BC. As gold has always played a vital part in the world’s monetary system, it was expected that future currencies would be made up of gold or other valuable metals.
At the same time, it is imperative to remember that the times were very different and the population of the world was much smaller. Not only that but also the fact that the percentage of rich people was so much smaller than what we are seeing today, as most people would either be soldiers or peasants which meant that they would not see much gold in their lives, especially the peasants which would just live of the land.
At the beginning of the 7th century BC, such gold coin currency would become quite famous around the world, therefore, its use was implemented by most nations and traders around the world. A large minority of historians still argue to this day that the first gold coin could date back to an even earlier period by stating that its use has not been popular as it was only used in more secluded areas that have been wiped from this earth.