Etymology:
The word "drachma" originates from the Greek word "drakme" (δραχμή), which means "a handful."
Meaning:
A drachma was an ancient Greek coin that served as a unit of currency. It was made of silver and was worth approximately 6 obols, which were smaller denominations.
Origin:
The drachma first appeared in the 6th century BC, during the reign of King Solon of Athens. It was initially made of electrum, a natural alloy of gold and silver, but later became primarily silver.
Drachmas were widely used in ancient Greece and its colonies. The weight and purity of drachmas varied from city-state to city-state, but the Athenian drachma became the most common standard.
Over time, the drachma was also adopted by other Mediterranean cultures, including the Romans, who called it the "denarius." The term "drachm" is still used in modern times to refer to a unit of weight in various countries.
Historical Significance:
The drachma played a pivotal role in the economic and political development of ancient Greece. It facilitated trade and commerce, allowed for the payment of taxes, and funded major construction projects.
The Athenian drachma, in particular, gained international recognition and became a symbol of the city-state's wealth and power. It was used as a form of currency in trade throughout the Mediterranean region.
The drachma remained in use in Greece until the 19th century. It was replaced by the euro in 2002.
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