International commerce in the ancient world
1 satamana from Gandhara Janapada, circa 5th century BC (NCC2014.39.1)
The recent additions to the National Currency Collection described below are from very different parts of the world and are between 1500 and 2500 years old. It may not be obvious at first, but they reflect themes that are still important to us today. Globalization isn’t a recent development–international trade has been around since ancient times. And even then, people were worried about counterfeiting!
Punch-marked coins, Gandhara Janapada, circa 5th century BC
1 shana or 1/8 satamana from Gandhara Janapada, circa 5th century BC (NCC2014.39.3)
1 shana or 1/8 satamana from Gandhara Janapada, circa 5th century BC (NCC2014.39.3)
1/4 shana from Gandhara Janapada, circa 5th century BC (NCC2014.39.4)
Many of us know about Afghanistan only from news reports. However, the country has a long and sometimes surprising history. In the first millennium BC, the region of northern Afghanistan and Pakistan was home to the Indian Janapada (kingdom) of Gandhara. At the crossroads of Asia and the Middle East, Gandhara was perfectly situated as a hub for trade and the export of cultures. We know that Gandhari merchants traded with Babylon and may have travelled as far west as Egypt and Ancient Greece.
These silver coins attest to the kingdom’s trade connections and wealth. The weight of the coins is based on an Indian standard, the satamana, that is also related to the Babylonian shekel. The smaller stamps on the bar-coin are banker or merchant marks. These marks were probably made by someone testing the quality of the silver.
Glass coin weights, Byzantine Empire, circa 6th-7th century AD
Although the Roman Empire in Western Europe was overrun by invaders, it survived in the East as the Byzantine Empire for over a thousand years. The eparchs, or governors, of cities such as Constantinople (now Istanbul in Turkey) were almost as important as the emperor himself. One of the eparchs’ responsibilities was to issue the official weights that merchants used to test coins–an early anti-counterfeiting measure.
Glass Tremissis weight of the Byzantine Empire from circa AD 522-23 issued by Theodotos (NCC2014.24.1)
Glass Semis weight of the Byzantine Empire from circa AD 582-602 issued by Martinos (NCC2014.24.2)
Glass Solidus weight of the Byzantine Empire from circa 6th century AD issued by Droserios. (NCC2014.33.1)
Some of these weights were made of glass. A blob of melted glass was dropped on a flat surface and stamped before it cooled. The same glass was used to make jewellery and delicate perfume bottles, so the weights come in a variety of colours. They all bear the name or monogram in Greek of the individual who issued them.
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The Museum Blog
May 22, 2025
Speculating on the piggy bank
By: Graham Iddon
Ever since the first currencies allowed us to store value, we’ve needed a special place to store those shekels, drachmae and pennies. And the piggy bank—whether in pig form or not—has nearly always been there.
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Subject(s):
Arts,
Business,
Economics,
English language arts,
Financial literacy,
Geography,
Health,
History,
Math,
Science
Grade level(s):
Grade 09 / Secondary 3,
Grade 10 / Secondary 4,
Grades 11 and 12 / Secondary 5
February 26, 2025
New acquisitions—2024 edition
Bank of Canada Museum’s acquisitions in 2024 highlight the relationships that shape the National Currency Collection.
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February 11, 2025
Money’s metaphors
Buck, broke, greenback, loonie, toonie, dough, flush, gravy train, born with a silver spoon in your mouth… No matter how common the expression for money, many of us haven’t the faintest idea where these terms come from.
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August 6, 2024
Treaties, money and art
The Bank of Canada Museum’s collection has a new addition: an artwork called Free Ride by Frank Shebageget. But why would a museum about the economy buy art?
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Subject(s):
Arts,
History
July 16, 2024
Rai: big money
By: Graham Iddon
An item is said to have cultural value when it can be directly associated with the history, people, beliefs or rituals important to a society. It’s the same with a rai—its value can be greater depending upon who authorized it, who carved it and who subsequently owned it.
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Subject(s):
Economics,
Geography,
History
Grade level(s):
Grades 11 and 12 / Secondary 5
April 18, 2024
Lessons from the Great Depression
By: Graham Iddon
What the stock market crash of 1929 did was starkly reveal the weaknesses of economic systems that had evolved from the unregulated capitalism of the late 19th century.
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Subject(s):
Financial literacy,
History
Grade level(s):
Grade 09 / Secondary 3,
Grade 10 / Secondary 4,
Grades 11 and 12 / Secondary 5
March 25, 2024
Welcoming Newfoundland to Canada
By: David Bergeron
Newfoundland’s entry into Confederation marked the end of an era when Canadian provinces issued their own coins and paper money.
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December 19, 2023
New Acquisitions—2023 Edition
It’s that time of the year again—the wrap-up of the Bank of Canada Museum’s annual acquisition program. Here are a few highlights of the latest additions to the National Currency Collection.
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November 27, 2023
Mo’ money, mo’ questions
But what do you do with money once you have it? That’s for you to decide. A budget can really help. It will allow you to keep track of what you earn (income) and what you spend (expenses).
Content type(s):
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Financial literacy
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Grade 04,
Grade 05,
Grade 06,
Grade 07 / Secondary 1,
Grade 08 / Secondary 2,
Grade 09 / Secondary 3,
Grade 10 / Secondary 4,
Grades 11 and 12 / Secondary 5
