Showing posts with label talent. Show all posts
Showing posts with label talent. Show all posts

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