How and when electrum was first used as coinage

Some 600 years before Christ was born mankind started using electrum as a form of payment. This was in exchange for good and services. Ancient man found electrum in riverbeds. They were in nugget form, but it wasn’t long before the very first coins were produced. This is how and when electrum was first used as coinage.

These earliest coins known in the ancient world were created from this naturally occurring alloy called electrum, as a result of a mixture of gold and silver. It also often found containing other trace elements like platinum, copper and other metals. These alloys give off a shiny property that easily catches the rays of the sun. A variety of colors could be found to range from pale yellows to bright greens. Occasionally, even a brassy-color due to higher copper content could be seen.

Electrum from Cyzicus Mysia

These new electrum coins were first seen in parts of ancient Greece like Cyzicus, Mysia. This was an ancient town in Anatolia, which is currently the Balıkesir Province of Turkey. Shortly after the invention of coinage as currency Mysia citizens started seeing animals on the coins. These were the first coins to depict an actual animal on it.

The Cyzicus Electrum Stater dates back to around 550 BC and depicts a winged horse on the front. The back had a geometric incuse punch on it. This is where the person, who hand minted the coin, pounded the electrum into the desired shape. Below is a video of such a coin in Choice Fine 5×4 condition. It is certified by NGC Ancients and is available for sale at Austin Rare Coins.

Austin Rare Coins is a premier ancient coin dealer in the United States. To find out more about this coin or others like it call them at 1-800-928-6468. An Ancient Coin Advisor will be happy to explain more about how and when electrum was first used as coinage. They can also assist you with all your ancient coin questions.

Ancient Electrum Coinage of Cyzicus

The first coins ever made were of a substance called electrum. Ancient Electrum Coinage of Cyzicus could be found occurring naturally along riversides in ancient times. Importantly, electrum contained gold and silver, with trace amounts of copper and other metals. It was bright and had such a white color to it that ancient Greeks who found it called it “white gold.” Moreover, there were several types of electrum depending on the amount of gold and the different alloys it contained. Electrum could range in color from a bright white yellow a greenish tone. Adding Cadmium, which is highly toxic, to the gold turned it to a green color. The ancient Lydians who discovered this also realized the health concerns regarding its use.

Cyzicus Electrum Choice Very Fine Stater

An example of a Cyzicus Electrum is this Ancient Cyzicus Electrum Choice Very Fine Stater. It is an amazing coin and desirable by many types of collectors. Firstly, this is the earliest depiction of a domesticated animal on human coinage that we know of. Secondly, it was struck around 2,550 years ago. Thirdly, this 17-gram electrum full stater depicts a hound running left in lifelike fashion. Finally, the dog is atop a totem animal, the tunny (tuna fish).

This Ancient Electrum Coinage of Cyzicus is an amazing piece of history. In other words, it is truly a rare artifact. It is also a collectors item. One to put away and relish. Above all, having one of the first coins ever made is of historical value.

In conclusion, starting in 650 B.C electrum coins were coins ever made. The material they use for the coins was a naturally occurring mixture of gold and silver found in and around streams and riverbeds.

If you’d like to own this amazing piece of history it is a tough item to beat. We love the value found in the earliest of all coinage: electrum. Talk to one of our Rare Coin Advisor to purchase this coin, or other like it. The coin shown is the exact coin you will receive.

Cyzicus Electrum Stater ‘Hound on Tunny’ NGC CHVF 4×4

Welcome to our new Rare Coins BLOG

Austin Coins Blog

You’ve come to the right place to learn all about rare coins. We want to Welcome to our new Rare Coins Blog.

Since 1989 Austin Rare Coins & Bullion has been an industry leader in precious metals and rare coins. We have rare coins from all around the world. This blog is designed to highlight and discuss our most interesting and unique inventory highlights. For instance, it may be a 2,000 year-old Roman coin, or a rare issue minted during the Civil War.

On this blog you will find the best we have to offer. We also want to share some fun and useful information. This is so you can understand better the fascinating world of rare coins.

This rare coins blog is an information tool. We hope to assist you in buying and selling Rare Coins. It can be US Rare Coins, World Rare Coins, or even Ancient Rare Coins. Just let us know how we can help. Whether you’ve just started collecting Rare Coins, or you’re a rare coins bug, this blog will have ideas for everyone.

Strong Demand For Coins

Today, there’s a strong demand for coins and growing base of coin collectors in the United States. In fact, coin collectors growing all around the world. In the 1980’s, coin dealers estimated the number of US coin collectors at 5 to 10 million.  “Ian Russell of Great Collections estimated there are 10 million coin collectors in the U.S.” Moreover, he declared it on the Larry King Show.

The global coin collecting (numismatics) market is valued at approximately $17.59 billion in revenue annually.” This industry is growing all around the world. In addition, many starting coin collectors are discovering the joys of collecting all types of coins. From Silver Dollars to Pre-1993 dated US Gold Coins. In addition, the massive shift of wealth to Far East nations has also brought many new coin collectors. They are coming from Japan, China, Asia, and the rest of the world.

In conclusion, welcome to our new rare coins blog. If you have questions call us at 1-800-928-6468. Speak with one of our knowledgeable coin dealers.