Silver was used as currency in ancient Israel more than 1,000 years before the invention of the coin, and earlier than in Egypt and Greece, a new University of Haifa interdisciplinary study published this week found.
The study published in the Journal of World Prehistory was conducted on hoards of silver dating from the Bronze and Silver Ages, spanning from circa 2000–600 BCE that were discovered at archaeological sites across Israel.
Researchers already knew that silver was used as currency in Mesopotamia, Anatolia and Syria by the third millennium BCE, but the same was not evident for Israel, as the country has no natural silver deposits.
The study, led by Dr. Tzilla Eshel of the University of Haifa’s School of Archaeology, was the first to examine and compare hoards from multiple locations around Israel, rather than focus on one at a time.
The team noted each hoard’s date, location, social and economic context, and what items were found. They also conducted chemical analyses of the silver items to see whether they had been mixed with additional metals and to track purity over time.
Based on the test results and the presence of weights alongside many of the hoards, the researchers concluded that silver was used in Israel as currency and was valued by weight as early as the mid-Bronze Age. They also noted that the evidence suggested silver was used as a form of payment in Israel earlier than in nearby areas such as Egypt and Greece.
A location where pieces of silver were discovered at Tel Gezer. (Gary Myers/IAA/New Orleans Baptist Theological Seminary)
While some hoards were dated earlier than that, the researchers believe those particular hoards were used for ritualistic purposes rather than commercial.
Silver was not consistently the main form of currency in the area throughout these periods. The study notes that gold dominated for a time during the Late Bronze Age (circa 1550–1200 BCE) before once again being overshadowed by silver.
In another shift, evidence suggests that silver was not widely available during the early Iron Age. However, the researchers postulate that it was not replaced by gold or copper this time and instead, continued to be used as an index value.
Silver was then used as the main currency regularly until the end of the Iron Age.
Such changes, the study notes, were indicative of the state of the population and the economy in the region at any given time.
The silver hoard from Ras al-Din, ca. 600 BCE. (Dr. Shai Bar)
The researchers also found evidence in later hoards of tampering with the silver’s purity. Mixtures of silver with copper or arsenic seem to point to an attempt to create forgeries or lower the value of the silver.
“The first coins were only invented in the 7th century BCE, but the principles of a monetary system were already operating here hundreds of years earlier, with features such as uniformity, value control, and even forgery,” said Eshel.
“The continuous use of silver demonstrates a progressive economy that evolved gradually from within society itself.”
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