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The Ptolemaic dynasty introduced standard coinage to Egypt, where pre-existing native dynasties made only very limited use of coins. Egyptian gold stater was the first coin ever minted in ancient Egypt around 360 BC during the reign of pharaoh Teos of the 30th Dynasty. These coins were used to pay salaries of Greek mercenaries in his service.
Most gold mines in Egypt today were exploited for high-grade gold (15 g/t gold or greater) by the ancient Egyptians; [8] however, there has been limited exploration that applies modern day techniques where deposits can be viable based on gold grades as low as 0.5 g/t (provided there is sufficient tonnage and readily available infrastructure).
Much of the economy was centrally organized and strictly controlled. Although the ancient Egyptians did not use coinage until the Late period, [73] they did use a type of money-barter system, [74] with standard sacks of grain and the deben, a weight of roughly 91 grams (3 oz) of copper or silver, forming a common denominator. [75]
In 2002, the journal Nature published a game-changing report that revealed an incredible economic disparity in ancient Egypt. The vast majority of ancient Egyptians, it turns out, were dirt poor ...
The history of ancient Egypt spans the period from the early prehistoric settlements of the northern Nile valley to the Roman conquest of Egypt in 30 BC. The pharaonic period, the period in which Egypt was ruled by a pharaoh, is dated from the 32nd century BC, when Upper and Lower Egypt were unified, until the country fell under Macedonian rule in 332 BC.
Silver is estimated to have been discovered in Asia Minor shortly after copper and gold. [14] There is evidence that iron was known from before 5000 BC. [15] The oldest known iron objects used by humans are some beads of meteoric iron, made in Egypt in about 4000 BC.
The customs of ancient Egypt, the daily routine of the population, the cities, the crafts, and the economy derive their importance from agriculture, its needs, and its benefits. Herodotus emphasized that Egypt is the gift of the Nile and that the Nile River is the source of all aspects of life, including the religion of the ancient Egyptians ...
“First and foremost, the massive success of lab-grown diamonds has reduced prices for natural stones well beyond what the mining industry had expected, driven largely by consumers who want more ...