Hellenistic Currency Systems in the Kelsey: The Ptolemies, Part II

Last post we talked a little bit about the closed currency system instituted by Ptolemy I in Egypt in the late 4th century BCE. We talked about how such a system allowed the Ptolemies to control the amount of precious metals in their economy, particularly silver, an element that does not occur naturally in the Egyptian territory, and the metal out of which the international currency of the time was made — the Attic silver standard (for a more detailed analysis on the implementation of a closed currency system by […]