The development of monetary system in Olbia began with small bronze dolphins, cast around 550-525 B.C. These dolphins were initially used as sacrificial objects in the worship of Apollo, but over time, they evolved into an early form of proto-money. As Olbia became a prosperous trading hub, these dolphins were increasingly used in transactions, reflecting the city's growing commercial importance. When true coins began circulating in the region, the dolphins continued to play a role, appearing in hoards alongside the new currency. This transition from dolphins to minted coins marked a significant shift in the economy, but the legacy of the dolphin persisted—when the coins were updated, dolphins were featured on the new versions, connecting the ancient practices of #Olbia with its evolving monetary system.
Note: Olbia, a #Milesian colony in what is now Ukraine, was settled in the late 7th century B.C. At the convergence of two rivers ( #hypanis & #borysthenes ) about 15 miles inland from the Northwest coast of the Black Sea.
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