The History of Coinage in Turkey: From the Lydians to the Seljuk Era

In Western Anatolia, the first coins in the world appeared at the hands of the Lydians in the 7th century BC, marking the beginning of a new era in human history.

Since then, the lands of present-day Turkey have been a stage for the evolution of currency in all its forms, serving as a mirror reflecting the shifts of power, trade, and religion.
From the Lydians to the Persians, then the Greeks, Romans, and Sassanids, and finally the Seljuks — each civilization had its own story imprinted on the face of a coin.

The Kingdom of Lydia – Cradle of Coinage (7th Century BC)

• Location: Western Anatolia, capital Sardis

• Coinage: Electrum (a natural alloy of gold and silver)

• Approximate Date: Around 600 BC

Characteristics:

• The first known true coinage in history.

• Minted using molds and metal dies.

• Lydian coins spread to faraway regions such as Greece and Lebanon, reflecting their role in international trade.

Historical Significance:

• Marked a decisive shift from the barter system to a monetary economy.

• Coins served as symbols of royal authority and sovereignty.

• Inspired later Greek city-states to mint coins bearing the images of gods and rulers.

• Lydian coins are among the rarest and most valuable ancient coins, sometimes selling at international auctions for over USD 200,000 each.

Electrum Stater from the Reign of Alyattes (~610–560 BC)

• Obverse: The foreparts of a lion attacking a bull — a powerful and mythical design.

• Reverse: Double square punch marks for weight and authenticity verification.

• Weight: ~4.7 g (⅓ Stater), a common denomination at the time, divisible into smaller fractions such as 1/6, 1/12, and even 1/48 of a Stater.

Gold Stater of Croesus (~560–546 BC)

• Obverse: Lion (symbol of Lydia) facing a bull.

• Reverse: Double incuse square.

• Weight: ~10.7 g of nearly pure gold, or a debased version weighing ~8.1 g.

• This gold standard established the foundation for a regulated currency system.

Tritate Electrum Stater

• Similar to the first series, but with greater purity and more refined engraving, reflecting artistic evolution from the late reign of Alyattes into Croesus’ era.

Smaller Denominations (½ Stater, 1/12, etc.)

• Show variations in weight and artistry, illustrating the use of fractional currency for smaller transactions.

Historical Importance of Lydian Coins

• Represent the true beginning of metallic currency as an economic standard in trade.

• Established a weight- and value-based monetary system, facilitating expanded commerce throughout Anatolia and the Near East.

Hellenistic Period (323–30 BC)

Began after the death of Alexander the Great, when his empire was divided among his successors. Cities such as Ephesus, Pergamon, and Sardis minted their own coins.

Coin Types:

• Tetradrachm: Silver (~17 g)

• Drachm: Small silver coin

• Stater: Rare gold coin

• Bronze coins for daily transactions

Designs:

• Obverse: Alexander the Great, Zeus, Athena, local kings

• Reverse: Gods, city symbols, mythological scenes

• Inscriptions in Greek

Roman Period (30 BC – AD 395)

Following Anatolia’s incorporation into the Roman Empire, coins were minted both centrally in Rome and locally in Anatolian cities.

Denominations:

• Aureus: Gold (~7.5 g)

• Denarius: Silver (~3.9 g)

• Sestertius: Bronze (~25 g)

• Copper denominations: As, Dupondius

Designs:

• Obverse: Emperor’s portrait with laurel wreath

• Reverse: Religious, military, and architectural motifs

• Inscriptions in Latin or Greek

Minting Cities: Ephesus, Antioch, Trebizond, Caesarea, Pergamon

Byzantine Period (AD 395–1453)

After the division of the Roman Empire, Constantinople became a major financial hub.

Main Coins:

• Solidus: Gold (~4.5 g)

• Follis: Bronze

• Miliarense: Silver

• Hyperpyron: Later gold coin

Designs:

• Obverse: Emperor

• Reverse: Christ, cross, angel, coronation scenes

• Inscriptions in Greek (e.g., “IhS XPS REX REGNANTIUM”)

Mints: Constantinople, Nicaea, Antioch, Trebizond, Nicomedia

Byzantine coins remained in circulation into the early Islamic era, serving as the final bridge between classical and Islamic coinage.

Example: Hellenistic Tetradrachm from Ephesus – King Lysimachus (~294–287 BC)

• Obverse: Portrait of Athena or Alexander the Great

• Reverse: Greek inscriptions and the bee or stag symbol — emblem of Ephesus linked to the goddess Artemis

• Weight: ~17.2 g, Diameter: ~28–31 mm

Roman Ephesus Coinage (Claudius – Tetradrachm)

• Features the emperor and a local Roman temple, inscribed “ROME” with COM mintmark for local circulation.

Byzantine Solidus from Constantinople (Early Period)

• Example from Emperor Phocas (AD 602–610), ~4.5 g gold

• Obverse: Emperor holding a cross

• Reverse: Angel or refined Christian motif

Islamic, Seljuk, and Early Ottoman Periods

Early Islamic Period (7th–10th centuries)

After the Islamic conquests of the Levant, Iraq, and Persia, the Umayyads and Abbasids began minting their own coins:

• Dinar: Gold, inspired by Byzantine solidus

• Dirham: Silver, derived from Sassanian drachm

• Fals: Copper, for everyday purchases

In Anatolia:

• Islamic coinage was rare until the 11th century due to ongoing Byzantine control.

• Byzantine gold coins remained in use.

• Abbasid dirhams reached Diyarbakir, Malatya, and Van via trade routes.

Seljuks of Rum (1077–1307)

• Capital: Konya

• Languages on Coins: Arabic

• Metals: Silver (most common), gold (rare), copper/bronze for daily use

Coin Types:

• Dinar: Gold — rare

• Dirham: Silver — most common

• Fals: Copper/Bronze

Characteristics:

• Arabic inscriptions in Kufic or Naskh script

• Sultan’s name, Abbasid caliph’s title, mint date

• Occasional symbolic motifs such as lions or birds

Notable Sultans:

• Kilij Arslan I (1092–1107): First to mint coins in Anatolia under his name

• Alaeddin Keykubad I (1220–1237): Minted artistically refined gold and silver coins

• Ghiyath al-Din Kaykhusraw II: Minted coins featuring the lion-and-sun motif in Sivas — among the earliest symbolic Islamic coins

Major Mints: Konya, Sivas, Malatya, Nevşehir, Ankara

Special Features:

• Cultural duality: Arabic inscriptions with Byzantine-inspired designs

• Visual symbolism: Lion and sun as emblems of power

• High purity: Seljuk dirhams were among the purest silver coins of the medieval period

• Trade support: Precise metal standards that boosted Silk Road commerce

Example: Dirham of Kaykhusraw II – Lion and Sun Type (Konya, AH 641 / AD 1241)

• Obverse: Lion with solar face, reverse: Arabic inscriptions in neat script

• Symbolism: Lion = Sultan, Sun = Georgian wife

• Weight: 2.9–3.1 g, Diameter: 21–24 mm, finely struck

By this point, we have explored the development of coinage on Turkish soil — from its earliest beginnings in the Lydian era, through the great civilizations that followed, to the Seljuk era, which marked a decisive shift toward Islamic-style coinage.
But the story does not end here…
In the next article, we will continue our historical journey with Ottoman coins and their evolution, exploring how Turkey transitioned from imperial currency to the modern lira under the Republic.