Trade and Coinage

1. Trade and Coinage Archaic Greece.

2. Trade before Colonisation • During the Archaic age, trade was between the Greek world and the non Greek world. • Greek traders had been in contact with both Eastern and Western countries. • Greek products had reached Sicily and Etruria in the west as well as Al Mina in northern Syria in the east

3. Trading Posts • There were several genuine trading posts such as Pithecusae, Massalia and Emporion. • Naucratis was a major trading center in Egypt. • These trading posts begun to become settlements, and whilst these were not proper polis’ they became meeting points between the Greek world and the non-Greek world. • Colonies were founded on sites which guarded trade routes suitable for the imposition of tools on passing trade.

4. Trade in Metal • Extensive exchange network for the purposes of securing metal supplies can be traced in the near east far back into the Bronze Age. • In the late Bronze Age the scale of exchange in metals can be judged by the development of standardised copper ingots. • Iron, copper, tin and silver were all in high demand throughout the Archaic period.

5. Trade after Colonisation • After colonisation, trade grew rapidly as the Greeks gained control of all the important waterways. • Hellespont – controlled the entrance to the Propontis. • Bosphorus – controlled entrance to the Black Sea. • Products from the forests, lands and mines of the colonies, such as gold, silver, iron, timber, wool, hides, wheat and fish were exchanged for finished articles from the homeland.

7. Some areas of Trade • Pottery – Corinth, Athens and Aegina • Bronze armour and metal utensils – Corinth • Swords – Chalcis • Jewelry – Ionia • Wool and textiles - Miletus

9. Effects of trade • Because raw materials were being constantly transported from the colonies to the homeland whilst finished products were bring transported vice versa, the pottery industry boomed, as containers were needed for oil, wine and grain. • Ship building also grew as trade boomed and trading routes became extended. • Development and introduction of coinage.

10. Development of Coinage • The usual method of exchange until the seventh century was barter un the form of metal bars. • With the increase in trade between Lydia in Asia Minor and the Ionian cities along the coast, a more satisfactory means of exchange was needed. • Coins were made of electrum (gold and silver) and stamped to ensure quality and weight.

12. Spread of Coinage • The use of coinage spread throughout the regions bordering the Aegean sea where two standards of silver currency came into use. • Aegina • Euboea • Coinage facilitated trade and industry, but widened the gap between rich and poor. • Money was easier to accumulate than goods, resulting in the wealthy class hoarding the relatively scarce coins.

14. Archaic coins • Archaic coins were mostly small bean shaped lumps of gold, silver or electrum, stamped with a geometric design to indicate its city of origin. • As coining techniques improved, coins became more standardised as flat disks, and the convention of putting a representation of the patron god or goddess of the issuing city became established.