The first coins

The first known coins were created by the Lydians around 600 years B.C. Lydia was located on the Southern coast of Asia Minor (Turkey) approximately half-way between Mesopotamia and Greece.
The first coins were made of electrum--an alloy of gold and silver. Each coin was hand engraved. They weigh about the same as a Washington quarter. The Lydians developed the 24 carat system of value and are believed to have established the first permanent retail shops. They were conquered by Alexander the Great and the Persian Empire. Much of what is known about this ancient society comes from the Greek historian, Herodotus.