![]() Achieving this goal necessitates the use of base metal alloys. For example, a coin may be in circulation for up to 30 years, and so must have excellent wear resistance and anti- corrosion properties. Requirements for a coinage metal Ĭoins that are intended for circulation have some special requirements based on the conditions they will encounter. In general coins intended for circulation must have metal values considerably less than their face values, for reasons discussed below. Coins not intended for circulation or for intrinsic value have also been made experimentally using an even larger variety of metals, since they function as fiat money. Precious metals are always used in bullion coins and some collectable coins. However, there are many more, even for coins made from intrinsically precious metals. The Persian coins were also very well known in the Persian and Sassanids era. However, the Persian daric was the first gold coin which, along with a similar silver coin, the siglos, (From Ancient Greek σίγλος, Hebrew שֶׁקֶל ( shékel)) represented the bimetallic monetary standard of the Achaemenid Persian Empire which has continued till today. ![]() These first coins were made of electrum, a naturally occurring pale yellow mixture of gold and silver that was further alloyed with silver and copper. Since that time, coins have been the most universal embodiment of money. Ancient India in circa 6th century BC, was one of the earliest issuers of coins in the world. Gold, silver and bronze or copper were the coinage metals of the ancient world, and most medieval coins.Īll western histories of coins begin invention at some time slightly before or after 700 BC, in Aegina Island, or, according to others, in Ephesus, Lydia, 650 BC. Historically, most coinage metals (or alloys) are from the three nonradioactive members of group 11 of the periodic table: copper, silver and gold, the copper usually being augmented with tin and often other metals to form bronze. 6 Non-metallic materials used for circulating coins.5 Article "World's Coinage Uses 24 Chemical Elements".3 Chemical elements used in circulating coins.
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