Money in Ancient Greece: Drachma
What is the name for the money they used in Ancient Greece?
Before 600 B.C. there was no monetary system in Greece, so they utilized the barter system. This was a system of trading goods and services for other goods or services. By 500 B.C., each city-state began minting their own coin. A merchant usually took coins from their own city only. Visitors had to find a money changer to exchange their coins. Typically a 5-6% fee was charged to exchange visitor’s currency to the local currency.
Initially a drachma was a fistful (a “grasp”) of 6 metal sticks (oboloi), which were used as a form of currency as early as 1100 BC. It was the standard unit of silver coinage at most ancient Greek mints, and the name “obol” was used to describe a coin that was 1/6 of a drachma.
Drachmas were minted on different weight at different Greek mints. The standard that came to be most commonly used was the Athenian or Attic one, which weighed a little over 4.3 grams. Athens currency was widely used because of the large trade network that they developed. Often an Athenian coin could be used in other Greek cities and not have to be exchanged for the local currency.
After Alexander the Great’s conquests, the name drachma was used in many of the kingdoms in the Middle East. The Arabic unit of currency known as dirham, inherited its name from the drachma; the dirham is still the name of the official currencies of the United Arab Emirates and Morocco. The Armenian dram also derives its name from the drachma.
The Athenian monetary system was set up in the following way:
- 6 obols = 1 drachma
- 100 drachma = 1 mina
- 600 minae = 1 talent
- 1 talent is equivalent of 57 pounds of silver
A worker in Athens could earn about 2 drachmas daily, an unskilled worker would make around 1/2 of a drachma for one day’s work. Sculptors and doctors were able to make up to 6 drachmas a day.
The costs of goods in ancient Greece:
- loaf of bread - 1 obol
- lamb - 8 drachmas
- gallon of olive oil - 5 drachmas
- shoes - 8-12 drachmas
- slaves - 200-300 drachmas
- houses - 400-1000 drachmas
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i think ancient greece is sooooooo stupiddd !
Along with the dumb assignments that go along with ittt !
you need what all the ancient money relates to in are money like 1 oblo (ancient greace) = 2 dallars (us)
How many tetartamorians make an obol?
how do you know what the price was in 1500 bc.??:-}
how do you no the price of food in 1500 bc.?
i think ancient greace is soooooooooooooooo stupid because why the **** do they kill each other theyl just die in the next 5-10 minuts!!!! they are ********!!!!!!!
Does anybody know of a coin expert I could contact online? I have a silver coin of ancient origin, looks EXTREMELY old, but I do not know from when or where. Any ideas?
i think ancient greece is an amazing culture to study. you’re the stupid ones if you can’t see how interesting it really is.
Max ur a little punk, that has no idea about greek culture. greeks invented everything used today, 2000 years ago. u fool. u hater fukk. i hope u get a lightning bult right up ur asssss.. if u didnt know, zeus has a great aim from mount olympis
i agree with pete, i am currently writing a novel that takes place in ancient greece, and im an award winning author!!! oh, and so much for keeping your words clean… huh pete& mike?
oh, and trina, your words are terrificly brought up… congrates!
Wow, Mike,
“i think ancient greace is soooooooooooooooo stupid because why the **** do they kill each other theyl just die in the next 5-10 minuts!!!! they are ********!!!!!!!”
How about you look at modern day war?
1lolss ancient greece is sooo cool ! i love learning about the gods and goddess
y do u think greece is stuiped it is one of the best things to research at school. at least there is war and stuff not like learning engligh
DO YOU KNOW? How much is 1 obol worth….I’ve been trying to figure it out so i know for a school project but it doesn’t work….
so a slave costed almost as much as a house?
ihave a 50 drachmas of ancient greece may i know the value of this?
Thank you useful information
so a slave costed almost as much as a house?
Well, at least you can enjoy Sparta
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