Wednesday 11 September 2024

Ancient Aksum Kingdom Gold and Silver Coins

Aksumite currency was coinage produced and used within the Kingdom of Aksum (or Axum) centered in present-day Eritrea and Ethiopia. Its mintages were issued and circulated from the reign of King Endubis around AD 270 until it began its decline in the first half of the 7th century. During the succeeding medieval period, Mogadishu currency, minted by the Sultanate of Mogadishu, was the most widely circulated currency in the Horn of Africa. 

Aksum's currency served as a vessel of propaganda demonstrating the kingdom's wealth and promoting the national religion (first polytheistic and later Oriental Christianity). It also facilitated the Red Sea trade on which it thrived.

Though Aksumite coins are indigenous in design and creation, some outside influences encouraging the use of coins is undeniable. By the time coins were first minted in Aksum, there was widespread trade with Romans on the Red Sea; Kushana or Persian influence also cannot be ruled out. Roman, Himyarite, and Kushana coins have all been found in major Aksumite cities, however, only very small quantities have been attested and the circulation of foreign currency seems to have been limited.

Though South Arabian kingdoms had also minted coins, they had already gone out of use by the time of certain Aksumite involvement in South Arabia under GDRT, and only very rarely produced electrum or gold denominations (silver mainly in Saba' and Himyar, while bronze in Hadhramaut), making influence unlikely. The major impetus, however, was not emulation but economical; the Red Sea and its coasts had always been an international trade area and coins would greatly facilitate trade and wealth in the now "world power." 

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