The first known currency in the world is often attributed to the Lydians, an ancient civilization in what is now modern-day Turkey. The Lydians introduced standardized metal coins around the 7th century BCE, during the rule of King Alyattes. These coins were made of a mixture of gold and silver known as electrum.
The introduction of standardized coins marked a significant shift from earlier forms of trade, such as barter systems. With standardized coins, people could engage in more efficient and standardized exchanges of goods and services. The Lydian coins had stamped symbols to indicate their authenticity and value, making them a form of currency widely accepted in trade.
While the Lydians are often credited with the first use of standardized metal coins, it's important to note that various forms of currency and trade existed in different regions around the same time. The development of currency was not a singular event but a gradual process that evolved over centuries across different civilizations.
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