Friday, March 21, 2008

Some aspects of ancient money

Herb notes that Wikipedia has an article on the ancient unit of coinage, the Talent. Here's an excerpt:
Another way to calculate the modern equivalent to a talent is from its use in estimating military pay. During the Peloponnesian war in Ancient Greece, a talent was the amount of silver needed to pay the crew of a trireme for one month. Hellenistic mercenaries were commonly paid one drachma for every day of service, which was a good salary in the post-Alexander (III) days and years. 6,000 drachma made a talent. Based on this fact, assuming a crew of roughly 200 rowers paid at the basic pay rate of a junior enlisted member of the US armed forces (E-2), a talent would be worth nearly $300,000.
The history of money and of coinage in general is very rich, as a number of links at Wikipedia will attest:

Roman Currency

Roman Republican Coinage

Representative Money

No comments: