An ancient kingdom in western Anatolia (modern-day Turkey) that is credited with the invention of coinage.
A naturally occurring alloy of gold and silver, with trace amounts of copper and other metals. It was the material used to make the world's first coins.
A standardized, stamped piece of metal used as a medium of exchange, where the stamp of an issuing authority guarantees its weight and purity.
The last king of Lydia, renowned for his immense wealth. He is credited with issuing the first true gold and silver coins.
A monetary system in which the value of the monetary unit is defined as equivalent to certain quantities of two different metals, typically gold and silver, with a fixed rate of exchange between them.
The gold and silver coins issued by King Croesus, considered the first true bimetallic currency.
A standard numerical monetary unit of measurement of the market value of goods, services, and other transactions.
A vast empire founded by Cyrus the Great, which became the largest empire in the ancient world under rulers like Darius the Great.
A king of the Persian Empire who was a brilliant administrator. He standardized the currency, weights, and measures, and implemented a predictable tax system.
A province or administrative district in the ancient Persian Empire, governed by a satrap (governor).
A payment made by one state or ruler to another as a sign of submission or for protection. In the Persian Empire, it was an early, inefficient form of taxation.
A gold coin of high purity introduced by Darius the Great. It was one of the first and most important standardized currencies in history.
A form of money where all units are physically identical and have the same value, established and guaranteed by a central authority.
A powerful city-state in ancient Greece that was a pioneer in developing democracy, philosophy, and a sophisticated monetary system.
A system of government by the whole population, typically through elected representatives.
The silver currency used in ancient Greece. The Athenian drachma, stamped with an owl, was one of the most widely used and trusted coins.
A sense of pride and belonging to one's city or community. Greek city-states used unique coins to foster this.
The ancient Greek term for a city-state, which was the central political and social unit of the Hellenic world.
The ancient Greek term for money changers, who sat at tables (trapeza) in the marketplace. By accepting deposits and making loans, they became the first commercial bankers.
A financial professional or institution that provides services such as accepting deposits, making business loans, and offering basic investment products.
A foreign currency held in significant quantities by other countries' central banks or monetary authorities, used for international transactions due to its perceived stability and trustworthiness.
The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
The charge for the privilege of borrowing money, typically expressed as an annual percentage rate. The concept originated in ancient Mesopotamia with agricultural loans.
A historical region of Western Asia situated within the Tigris–Euphrates river system. It is where the earliest forms of writing, agriculture, and lending are believed to have originated.
An amount of money borrowed by one party from another.
An early form of insurance/loan contract in which a lender would finance a merchant's sea voyage. The ship was the collateral, and the debt was canceled if the ship was lost.
The management of large amounts of money, especially by governments or large companies. At its core, it is the process of moving value through time.
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