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[MosJan]

The coins of kings of Sophene (Tsopk) dated to the second half of the 3rd century BC are believed to the first Armenian coins.

The history of Armenian money is rich, diverse and interesting. Armenians are undoubtedly one of the nations with the ancient money history, as the territory of historical Armenia was in the vicinity of the birthplace of the first antique coins. Coinage, which is considered to be a major event in the development of society, started approximately at the end of the 8th or at the beginning of 7th century BC in Lydia, an Iron Age kingdom of western Asia Minor located generally east of ancient Ionia in the modern western Turkish provinces of Uşak, Manisa and inland Izmir.

September 24, 2013

PanARMENIAN.Net - The oldest coins found in the territory of Armenia date back to 6th-5th centuries BC. These are silver coins made in the Achaemenid Empire and the Greek cities of Athens and Miletus.

In the middle of the 6th century BC, Armenia fell under the rule of the Achaemenid Empire and its territory was divided into eastern and western parts consisting of areas governed by satraps, who got the right to coin at the end of the 5th century BC.

Oront (in Armenian sources mentioned as Yervant, 362-345 BC), the satrap of the eastern part of Armenia, and Tiribaz (386-380 BC), who governed the western part, had coins with their own images.

It’s noteworthy that coins of Macedonian king Philip II (359-336 BC) and Alexander the Great were discovered in the territory of Armenia, although there is not enough evidence that the locals used money at that time, and, apparently, trade was conducted through exchange. However, the discovery proves that the people knew about the usage of coins.

The coins of kings of Sophene (Tsopk) dated to the second half of the 3rd century BC are believed to the first Armenian coins.

The coins of the following Armenian kings are known: Sames (about 260 BC), Arsham I (about 240 BC), Arsham II (about 230 BC), Xerxes (about 220 BC), Abdidares (about 210 BC).

Description of coins First Armenian coins were copper coins, with a very small number of them preserved. The coins of the period of Sophene kings’ rule were minted in Hellenistic style. The obverse showed the image of the ruler (profile of the king in a characteristic pointed headdress). The reverse demonstrated various mythological images, for example a horseman symbolizing the king, an eagle, or the name of the king in Greek letters.

The material was prepared in cooperation with Gevorg Mughalyan, the numismatist of the Central Bank of Armenia.

Viktoria Araratyan / PanARMENIAN.Net, Varo Rafayelyan / PanARMENIAN Photo

 

http://www.panarmeni...details/170397/

[MosJan]

PanARMENIAN.Net project: History of Armenian Coins from 3rd Century BC

September 24, 2013 - 10:58 AMT

PanARMENIAN.Net - PanARMENIAN.Net ’s new project titled ‘History of Armenian Coins from 3rd Century BC’ is dated to the 20th anniversary of the Armenian national currency, the Dram, which is celebrated on November 22, 2013.

20 years ago, the replacement of Soviet rubles by a new national currency started in Armenia.

Introduction of the Dram played a key role in the establishment of an independent state. Despite the hardships Armenia experienced in the 1990s, these were the years when the foundation for Armenian statehood and financial structures, including the banking system, was laid.

Armenian dram was put into circulation at AMD 14,5 to USD 1. With a shift to a floating rate policy, the exchange rate soared by 5 times to comprise AMD 75 to USD 1 by the yearend. Presently, Armenia retains the floating rate policy, with the exchange rate of AMD 406.17 to USD 1 as of September 23, 2013.

By the decree of the government, November 22, along with the birthday of Armenian Dram, also marks the Day of Banking System Employee.

PanARMENIAN.Net jointly with the Central Bank of Armenia (CBA) implemented the unique project to present the rich history of money circulation, as well as the collection of coins and bank notes in possession of the CBA to its readers.

The project was carried out in collaboration with HSBC Bank Armenia thanks to its experience in national currency backing in different countries of the world.

HSBC Global Archives is home to a diverse collection of the bank’s history spanning two centuries, including all of the historic bank notes issued by The Hongkong and Shanghai Banking Corporation, The Mercantile Bank of India, and The British Bank of the Middle East.

Also held at the archives are examples of coinage and earlier types of currency such as silver sycee, as well as ornate albums of notes, hand painted design plates, and correspondence with banknote engravers that reveal the story behind the bank’s long history of issuing money.

HSBC’s collection of banknotes issued by The Hongkong and Shanghai Banking Corporation runs from 1866 into the 1990s. Afterwards, the responsibility for note issuing was gradually transferred to governments in the Straits, Japan and Thailand, with the Corporation retaining its role in Hong Kong.

HSBC was born from one small idea – a local bank serving international needs. The bank opened for business in Hong Kong on March 3, 1865.

Entering Armenia in the mid-90s, HSBC was the first international bank and the largest international investor in the country. HSBC played an increasingly important role in the establishment and development of the banking system in Armenia by integrating international banking and customer service standards and technology and by working side by side with the government and regulators.

[MosJan]

From the history of Armenian coins. 1st ever paper money circulated in Armenia in 19th century

Along with paper money, gold, silver and copper coins were also circulated, with billon (low-grade silver) coins entering circulation later.

In early 19th century, Eastern part of Armenia was annexed to the Russian Empire with the latter’s paper currency entering into circulation. This was the first time ever paper currency was circulated in Armenia to last for 100 years till 1917: among banknotes circulated were those of Russian emperors Alexander I, Nicholas I, Alexander II, Alexander III and Nicholas II.

October 22, 2013

PanARMENIAN.Net - Description of paper currency

Russian emperors' paper money was very diverse, ranging from state bank notes, state credit bills, State Treasury bills, Treasury banknotes, short-term liabilities of State Treasury.

[MosJan]

http://www.panarmeni...details/171639/