"Thus then, when the Lydians in the reign of Gyges came into contact and conflict with the Greeks, the two units of weight, after travelling by different routes, met again in the coast towns and river valleys of Western Asia Minor, in the borderland between the East and the West.
"To the reign of Gyges, the founder of the new Lydian empire as distinct from the Lydia of more remote antiquity, may perhaps be ascribed the earliest essays in the art of coining. The wealth of this monarch in the precious metals may be inferred from the munificence of his gifts to the Delphic shrine, consisting of golden mixing cups and silver urns, amounting to a mass of gold and silver such as the Greeks had never before seen collected together." This treasure was called the Gygadas, and is described by Herodotus[1].
"It is in conformity with the whole spirit of a monarch such as Gyges, whose life's work it was to extend his empire towards the West, and at the same time to hold in his hands the lines of communication with the East, that from his capital Sardes, situated on the slopes of Tmolus and on the banks of the Pactolus, both rich in gold, he should send forth along the caravan routes of the East and into the heart of Mesopotamia, and down the river valleys of the West to the sea, his native Lydian ore gathered from the washings of Pactolus and from the diggings on the sides of Tmolus and Sipylus.
"This precious merchandize (if the earliest Lydian coins are indeed his) he issued in the form of oval-shaped bullets or ingots, officially sealed or stamped on one side as a guarantee of their weight and value. For the eastern or land-trade the light mina was the standard by which this coinage was regulated, while for the western trade with the Greeks of the coast the heavy mina was made use of, which from its mode of transmission we may call the Phoenician, retaining the name Babylonian only for the weight which was derived from the banks of the Euphrates."
To prevent misapprehension, it may be advisable to mention that the standards here termed Phoenician and Babylonian are not to be confounded with the heavy and light shekels already
- ↑ Herod. I. 14.
