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Money isn’t a thing, it’s a philosophy. The Greeks were the first to realize it.bigthink.com/sponsored/money-in-ancient-greece/
163 sats \ 2 comments \ @bordalix 3 Sep 2022 bitcoin
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100 sats \ 0 replies \ @siggy47 3 Sep 2022
I'm an ancient coin collector, mainly roman. I found it fascinating to study Roman history through coinage. As society deteriorated, the silver content of the coins decreased. I own a few late denari that are not referred to as silver, but "billon", which is an alloy containing predominantly cheaper copper. It was the QE of ancient times.
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0 sats \ 0 replies \ @cointastical 3 Sep 2022
In his aptly-named book Archaic and Classical Greek Coins, the eminent numismatist Colin M. Kraay discusses various purposes for coins, including the collection of harbor dues, fines and taxes. The observant reader will notice a trend: Before coins were used for trade between citizens, they were used to make payments to the state.
Unlike the so-called “primitive money” that was being used in Asia Minor, Greek coins were also worth more than their intrinsic value. For us, a society that uses fiat money made from paper, this is nothing special. However, in classical antiquity, this was no small feat, as any such surplus value was based solely on the power of and trust in state institutions.
Unlike the so-called “primitive money” that was being used in Asia Minor, Greek coins were also worth more than their intrinsic value. For us, a society that uses fiat money made from paper, this is nothing special. However, in classical antiquity, this was no small feat, as any such surplus value was based solely on the power of and trust in state institutions.
The philosopher recognizes coins as a “mere sham,” stating that “it is within our power to alter and to make it useless.”
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