Friday, August 5, 2011

MYTH AND COINS-The ancient Greeks also had their bankruptcies

Kyzikos. 480-450 BC. AR tritartemorion. 10mm, 0.40g. Obv: Forepart of running boar left, tunny upwards behind. Rev: Head of roaring lion left, star in incuse square.

Exhibition 160 coins of Asia Minor from the 6th century BC as the 3rd AD reveals that loans, exchange rates and other banking transactions are not "inventions" of modern times
Stable long-term loans: interest rate around 10%. Current loans: interest rate of 12% (but higher rates of naftodaneion). The signing of contracts between a bank and private mandatory presence of witnesses.
Banking facility: the retention money and other items free. And all this with the old ... very old .....Drachma.
There is a modern bank advertising, but the current banking system in ancient Athens. The similarities also with the current functioning of banks do not stop there: private banks and private lenders, fees, exchange rates and currency exchanges, property management, issuing orders to third letters for payment of money from banks in other cities.
The exhibition "Tales Stories coin-cities" which opens on November 24 at the Cultural Centre "Hellenic Cosmos" presents an excellent collection of ancient coins from the 6th century BC to the 3rd AD, while the visitor is given the opportunity to learn important information, historical, political, religious, and economic.
It is the first presentation of a section (160 coins) collection acquired by the Foundation of the Hellenic after purchase by a German collector, consisting of 13,000 coins. Represents areas of the contemporary France to Egypt, but emphasis is placed on the Black Sea and Asia Minor, so it also is the fourth largest collection of coins of Asia Minor in the world. As noted by the archaeologist, numismatist Mrs Helen Papaefthymiou, (curator of the collection of FHW and of Exposition), the coins provide the specialist scholar additional information on historical and economic events such as bankruptcy of a city. The best banks in antiquity, however, was the sanctuaries of which also borrows the state. As for private bankers regulating the interest rate according to risk.
Thus, the so-called marine loans reached even at 100%, but in case of loss of the ship with its cargo the creditor had no claim from the borrower (if he survives ...).
The Money Changers and bankers also served Market (by commission around 5% -6%) foreigners who wanted to exchange their currency with Athenian drachmas weighing foreign currency and checking the purity of the rubbing on a touchstone (hard stone Lydia in Asia Minor upon which tested the purity of gold and silver).
Generally, however, bankers were not rampant and the citizen could approach the court.
Taxes for all, except from poor
The metics and the rich Athenians pay taxes primarily in ancient Athens, with the most inventive forms of taxation is considered the "service" because was accompanied by glory and prices for the taxpayer! This undertaking major projects by wealthy businessmen, such as maintenance warship and crew (trierarch) to cover expenses for religious dinnersthe coverage of costs of sending official delegations to major temples (theory), the expenditure commitment for performances of dramatic events (sponsorship), etc. the sponsorship cost drs 300-5000 (in the 5th century BC, the annual salary of the priestess of Athena Victory was 50 drachmas) and could be difficult to refuse someone, whereby it would be suggested another richest in place and if he refused to propose an exchange of property.
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