Numismatic scholars generally agree that the first currency based in coins was developed around the seventh century B.C.E. in the small Greek kingdom of Lydia (located in modern Turkey).1 The various Greek polities adopted systems of coinage and began to standardize denominations. A transportable, standardized form of currency and the monetization of value made the development of more sophisticated economies possible.
In earlier times, transactions were completed by bartering, the exchange of resources or services for mutual advantage, with the items on both sides of the deal having inherent value. As civilization became more advanced, individuals found more complex means of interacting, eventually developing some form of pre-coin currency. For example, Aztecs used chocolate or, more precisely, cacao beans as currency; civilizations in China, North Africa and the Mediterranean used salt; and Mongolians used bricks of tea.2
