The Cambridge Collection tells the story of the world’s first coins—our Director of Ancient Coins, Zach Beasley, explains Ionian electrum to Croesus’ groundbreaking bi-metallic standard. The most important reform attributed to Croesus was the introduction of a bimetallic coinage in gold and silver, first augmenting and then replacing previous electrum issues. The creation of separate gold and silver denominations was a visionary move that had a major impact on the ancient economy. Croesus gold s
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How the first coins EVER were made! King Croesus of Lydia, who ruled from around 560 to 546 BCE, is widely credited with producing the first true gold and silver coins in history. While earlier civilizations used weighed metal and stamped ingots, Croesus introduced a standardized, government-backed coinage system that would shape the future of money. His mint in the city of Sardis began striking coins made of electrum—a naturally occurring alloy of gold and silver—but he soon transitioned to sep
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