The first banknotes of the Northern Black Sea coast

In the early stages, after the settlement of settlements by Greek colonists in the Northern Black Sea region, exchange and trade with local tribes were conducted by means of “barter” or without a monetary exchange. And with the development of commodity relations, the functions of money began to perform common, necessary – but valuable goods. For example: arrowheads, glass beads, bracelets, rings – used for small calculations. And for large transactions – products made of precious metals, cattle, horses, slaves.

The oldest, home-denomination banknotes or “pra-monetas” of the Northern Black Sea region are coins-arrows, the shape of an arrowhead, with a broken off sharp end and without an opening for an arrow tree. Continue reading →