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In ancient Greece, it was generally reckoned as 1 ⁄ 6 drachma (c. 0.72 grams or 11 grains). [14] [15] Under Roman rule, it was defined as 1 ⁄ 48 Roman ounce or about 0.57 g (9 gr). [16] The apothecaries' system also reckoned the obol or obolus as 1 ⁄ 48 ounce or 1 ⁄ 2 scruple. While 0.72 grams was the weight of a standard Greek obol ...
The three most important standards of the ancient Greek monetary system were the Attic standard, based on the Athenian drachma of 4.3 grams (2.8 pennyweights) of silver, the Corinthian standard based on the stater of 8.6 g (5.5 dwt) of silver, that was subdivided into three silver drachmas of 2.9 g (1.9 dwt), and the Aeginetan stater or didrachm of 12.2 g (7.8 dwt), based on a drachma of 6.1 g ...
The ancient drachma originated in Greece around the 6th century BC. [1] The coin, usually made of silver or sometimes gold [2] had its origins in a bartering system that referred to a drachma as a handful of wooden spits or arrows. [3] The drachma was unique to each city state that minted them, and were sometimes circulated all over the ...
The God on the Winged Wheel coin, referred to in Levantine numismatics as the British Museum drachma, is a 4th-century BCE silver coin attributed by scholars to the Gaza mint, with a deity seated on a winged wheel. It is considered one of the most unique and enigmatic artifacts from the Abar-Nahara province of the Achaemenid Empire.
The Aeginetan standard, based on the coinage issued by Aegina had a stater of 12.4 g, which was divided into a half-stater or drachma of 6.2 g, a quarter-stater of 3.1 g, and twelve obols of 1.0 g each. [2] [1] This was the main trading standard in the Greek world in the Late Archaic period. In the second half of the sixth century BC, the ...
On 1 May 1954, the drachma was revalued at a rate of 1,000 old drachmae to 1 new drachma, and small change notes were abolished for the last time. [6] The third drachma assumed a fixed exchange rate of 30 drachmae per dollar until 20 October 1973: over the next 25 years, the official exchange rate gradually declined, reaching 400 drachmae per ...
Greece entered its period of new-won independence in a somewhat different state than Serbia, which shared many of the post-independence economic problems such as land and land reform. In 1833, the Greeks took control of a countryside devastated by war, depopulated in places and hampered by primitive agriculture and marginal soils.
The Greek economic miracle (Greek: Ελληνικό οικονομικό θαύμα) describes a period of rapid and sustained economic growth in Greece from 1950 to 1973. [1] At its height, the Greek economy grew by an average of 7.7 percent, second in the world only to Japan .