The term ‘Archaic’ refers to the beginnings of human history, when our early ancestors began to settle, trade, and found fledgling nations. Numismatists use the term to refer to the beginnings of coinage and currency, which includes both barter-items and proto-coinage. The question as to when the first true coins appeared is one that’s fraught with uncertainty.
Cowrie shells
In China, Shang Dynasty (1766-1154 BCE) tombs have been found containing bronze Tong Bei, cast into the shape of cowrie shells. The shells themselves had been used as currency for generations.
From around the 8th century BC, ancient Italians used Aes Rude, rough lumps of bronze, in trade. In other parts of Europe and the East, hack-silver, literally lumps of silver hacked into portable portions, were favoured. Identifiable coins, of a…