Coins as we understand them today were not used for much of ancient Egypt’s long history.
Instead, the economy relied on a barter system where goods and services were exchanged directly. The value of items was often determined using a unit called the deben , which was a weight-based measurement, typically around 91 grams of copper, silver, or gold. This system was remarkably stable for over a thousand years.
- Early Forms: Before formal coins, Egyptians used standardized weights of precious metals, such as silver rings and gold pieces shaped like sheep, for exchange.
- Foreign Influence: Coins began appearing in Egypt during the Late Pharaonic period, particularly after the Persian conquest in the 6th century BCE and [Alexander the Great\’s conquest in 332 BCE].
- Ptolemaic Period: The official minting of coins began in Egypt during the Ptolemaic period (323–30 BC), influenced by Greek coinage systems. These coins often featured the ruling monarchs, like Ptolemy I and Cleopatra VII, as well as Egyptian deities and symbols. Ptolemaic coinage included silver tetradrachms and gold octadrachms, among others.
- Roman Era: Following Cleopatra’s downfall and the Roman annexation of Egypt, Roman tetradrachms replaced the Egyptian silver currency.
In summary, ancient Egypt transitioned from a barter system with commodity-based valuation (using the deben as a unit of measurement) to a coinage system influenced by foreign powers, particularly during the Ptolemaic and Roman periods. These coins played a significant role in trade and reflected the cultural and political changes in the region.
What are ancient Egyptian coins called?
From my experience, Learn About the Unique Ancient Egyptian Coin Names
During the Ptolemaic era, these coins were often called by Greek names like obol, drachm, and stater, indicating values within the Greek monetary system that were tailored to Egyptian use.
What was ancient Egypt’s currency called?
The gold stater (Egyptian: nfr-nb, “Nefer-nub”, meaning “fine gold”) was the first coin ever minted in ancient Egypt, around 360 BC during the reign of pharaoh Teos of the 30th Dynasty.
What were ancient coins called?
Aureus, basic gold monetary unit of ancient Rome and the Roman world. It was first named nummus aureus (“gold money”), or denarius aureus, and was equal to 25 silver denarii; a denarius equaled 10 bronze asses. (In 89 bc, the sestertius, equal to one-quarter of a denarius, replaced the bronze ass as a unit of account.)