Coins are ubiquitous in modern society, check your pocket and you will undoubtedly find a few right now. Have you ever wondered when the first coins were made? An exhibition at the British Museum tries to answer that exact question. The 1/6 stater, pictured above, is more than 2,700 years old, making it one of the very earliest coins. It was made from electrum, a natural occurring alloy of gold and silver which I discussed in a previous post on Egyptian gold. It was discovered in Ephesos, an ancient Hellenic city in the area of Lydia, known from the bible and a prosperous trading center on the coast of modern day Turkey. The Lydians were the first to have fixed retail shops, probably contributing to the development of the coins. The coin above looks like a tiny nugget with a design on one side only. This ancient stater was hand struck. A die with a design, in this case a lion's head, for the front of the coin was placed on an anvil. A blank piece of metal was placed on top of the die, and a punch hammered onto the reverse. The result was a coin with an image on one side and a punch mark on the other. Even though it looks crude, the weight was strictly monitored.