Etymology:
Meaning:
Coinage refers to the creation and circulation of coins as a form of currency. It involves the minting, distribution, and regulation of coins by government authorities or other authorized entities.
Origin:
The word "coinage" originated from the Latin word "cuneus," which means "wedge." This term was used to describe the wedge-shaped marks that were stamped on metal ingots to create coins. Early coins were often made by hammering metal pieces into shape and then striking them with a die to imprint designs.
The concept of coinage has existed for thousands of years. The first known coins are believed to have been created in the 7th century BC in Lydia (now part of Turkey). These coins were made of electrum, a naturally occurring alloy of gold and silver.
Over time, coinage became widespread throughout the ancient world, with different civilizations developing their own unique designs and denominations. In medieval Europe, coinage was used primarily by merchants and traders, while in the modern era, it became a common form of currency for all socioeconomic classes.
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