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Who Discovered Silver - Artaxias Fortunas? |
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It all began in 5632 B.C in the Arabian desert between modern day Jordan and Oman. A nomad called Artaxias Fortunas, while watering his parched camels at a tiny oasis, fell asleep under the cooling shade of a palm tree. When he awoke many hours later to the sound of unrestrained camel burping, his eyes widened in astonishment as he discovered his thirsty camels had drained the oasis completely dry, and exposed a shimmering lode of precious silver. Of course this tale is absolute nonsense, we have no idea who discovered silver, however we do know that mankind has prized silver for millennia. |
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Thousands of years ago, silver was relatively plentiful on the earth's surface. Ancient peoples gathered the sparkling metal and soon discovered its durability and malleability; archaeologists have unearthed silver bowls, jewelry, and religious artifacts that were handcrafted as early as 4000 B.C. They trace these to Mesopotamian peoples including the Assyrians, Babylonians, and Sumerians. Silver in Ancient Times As the centuries passed and the demand for silver increased, the metal became desirable not only for its durability and malleability, but also as a storehouse of value. People began to mine for silver just below the earth's surface. Anatolia, or present-day Turkey, became the premiere provider of raw silver to western civilizations. Cultures in the Near East, Crete, and Greece traded silver for crops, cloth, land and luxuries. Eventually, twenty-five centuries ago, one the first silver coins in history was minted in Lydia, Asia Minor for King Phillip II of Macedon. The face features the head of Zeus, and the reverse depicts a king on horseback. King Phillip II's infamous son, Alexander the Great, spread the concept of coinage to the lands that he conquered, from the Balkans to the Persian Empire and India. In the centuries since the Lydian coins first exchanged hands, silver has consistently served as a storehouse of wealth. In biblical times, for example, a silver shekel was worth a specific amount of barley and became a measure of a man's worth; as early as Genesis Chapter 13, we are told, "Abram had become very wealthy in livestock and in silver and gold." As humankind spread out from Mesopotamia and around the globe, silver retained its high value. Silver coins would soon become an international currency. Silver in the Age of Exploration By the fifteenth century, explorers from the Mediterranean region were venturing across the oceans. As the Spanish explored the Americas, they discovered great silver mines in the areas now known as Bolivia, Peru, and Mexico. The monarchy hastened to establish several mints, and by 1537, Spain's King Charles I had established the silver real as the currency of Spanish America. Much of the world then adopted a silver-backed economy: silver supported the Holy Roman Empire and drove the Asian spice trade. By 1645, the English colony of Virginia used Spanish silver rather than British sterling as its standard for commerce. Silver in American History In 1792, Secretary of the Treasury Alexander Hamilton proposed backing the U.S. monetary system with gold and silver. His proposal was adopted and the silver dollar was born. The American economy boomed as silver lodes were discovered in Colorado, Nevada, and Utah throughout the 1850s. However, as the Industrial Age marched on, the private sector craved more and more of the malleable metal for photography, mirrors, musical instruments, and a myriad other uses. The government faced a silver shortage. As the silver supply dwindled, the U.S. government was forced to reduce the silver content in its coins. Consequently, by 1965 the United States no longer used the gold and silver standards. The face value of a common coin such as the quarter fell to below its bullion (melted) value. As of 1968, U.S. silver certificates cannot be redeemed for silver bullion. Today, the US government only uses silver in bullion, commemorative coins, and proof coins. The 999-fine Silver Eagle coin, for instance, weighs one ounce and has a face value of $1. Private mints, as well as the governments of many other countries, also issue silver bullion coins to collectors and investors. |
By Buysilvercoins.org.uk Wednesday, September 12, 2009 - Site map - Privacy policy |