The world's first gold coin: minted in the Aegean 2,500 years ago

Croesus, who ruled Lydia between 560-546 BC, had great wealth. This wealth came from his control of the valuable mineral deposits in the Sardis River (Pactolos), which flows into today's Western Aegean Sea. Strengthening his trade and diplomatic relations, Croesus established economic ties with Egypt, Greece and Babylon.

Before Croesus, his father Alyattes produced the first coins in about 650 BC. However, these coins were made using naturally occurring electrum (a gold-silver alloy). Since the proportion of gold and silver in electrum varied, the value of the coins was uncertain.

Croesus, who wanted to solve this problem, decided to separate gold and silver and produce two different coins. The first standard coin system produced from pure gold and pure silver was created in the workshops established in Sardis (today's Salihli, Turkey). The Croesus Stater weighs 10.7 grams and is considered the world's first gold standard-based monetary system.

The biggest advantage of this new system was that the exchange rate between gold and silver was fixed, making trade between merchants and states more reliable.

The gold and silver staters had the same design. The obverses featured a lion and a bull. These symbols are thought to be a common motif in Eastern Mediterranean culture. The reverse of the coin bore the marks of a hammer strike during minting.

This monetary system developed by Croesus soon spread throughout the ancient world and was adopted by many civilizations. However, Croesus was besieged by the Persians in Sardis in 546 BC and dethroned. Despite this, his name has survived to this day with the phrase "as rich as Croesus".