The Gold Reform of Ghazan Khan / Judith Kolbas
The Gold Reform of Ghazan Khan / Judith Kolbas
The Gold Reform of Ghazan Khan / Judith Kolbas
GLASGOW 2011
British Academy
PROCEEDINGS OF THE
XIV th INTERNATIONAL NUMISMATIC CONGRESS
GLASGOW 2009
II
CONTENTS
Preface
Editors note
18
19
Inaugural lecture
A foreigners view of the coinage of Scotland, by Nicholas MAYHEW
23
Antiquity: Greek
I Delfini (distribuzione, associazioni, valenza simbolica), by Pasquale APOLITO
35
42
48
Up-to-date survey of the silver coinage of the Nabatean king Aretas IV, by Rachel
BARKAY
52
58
67
Not only art! The period of the signing masters and historical iconography,
by Maria CACCAMO CALTABIANO
73
81
89
97
105
114
123
CONTENTS
131
The coinage of the Scythian kings in the West Pontic area: iconography, by
Dimitar DRAGANOV
140
The royal archer and Apollo in the East: Greco-Persian iconography in the
Seleukid Empire, by Kyle ERICKSON & Nicholas L. WRIGHT
163
170
178
184
189
199
203
213
Archaic Greek coins east of the Tigris: evidence for circulation?, by J. KAGAN
230
237
246
251
The coinage of Chios during the Hellenistic and early Roman periods, by
Constantine LAGOS
259
265
CONTENTS
269
280
285
293
Some remarks concerning the gold coins with the legend , by Lucian
MUNTEANU
304
310
The coinage of the Paeonian kings Leon and Dropion, by Eftimija PAVLOVSKA
319
Le trsor des monnaies perses dor trouv Argamum / Orgam (Jurilovca, dp.
de Tulcea, Roumanie), by E. PETAC, G. TALMACHI & V. IONI
331
337
350
357
365
The coin finds from Hellenistic and Roman Berytas (fourth century BC third
century AD, by Ziad SAWAYA
376
382
Uso della moneta presso gli indigeni della Sicilia centro-meridionale, by Lavinia
SOLE
393
405
CONTENTS
417
427
436
Zur Datierung und Deutung der Beizeichen auf Stateren von Grtyn, by
Burkhard TRAEGER
441
447
461
473
487
The civic bronze coins of the Eleans: some preliminary remarks, by Franck
WOJAN
497
500
Antiquity: Roman
The coinage of Diva Faustina I, by Martin BECKMANN
509
514
The key to the Varus defeat: the Roman coin finds from Kalkriese, by Frank
BERGER
527
Monetary circulation in the Bosporan Kingdom in the Roman period c. first fourth century AD, by Line BJERG
533
The Roman coin hoards of the second century AD found on the territory of
present-day Serbia: the reasons for their burial, by Bojana BORI-BREKOVI
538
CONTENTS
Die Mnzprgung des Thessalischen Bundes von Marcus Aurelius bis Gallienus
(161-268 n. Chr.), by Friedrich BURRER
545
557
569
576
580
592
Analytical evidence for the organization of the Alexandrian mint during the
Tetrarchy (III-IV centuries AD), by J.M.COMPANA, L. LEN-REINA, F.J.
FORTES, L.M. CABALN, J.J. LASERNA, & M.A.G. ARANDA
595
605
613
621
629
635
Monuments on the move: architectural coin types and audience targeting in the
Flavian and Trajanic periods, by Nathan T. ELKINS
645
657
662
CONTENTS
668
New coins of pre- and denarial system minted outside Italy, by Paz GARCABELLIDO
676
686
696
709
Mars and Venus on Roman imperial coinage in the time of Marcus Aurelius:
iconological considerations with special reference to the emperors
correspondence with Marcus Cornelius Fronto, by Jrgen HAMER
715
The silver coins of Aegeae in the light of Hadrians eastern silver coinages, by F.
HAYMANN
720
726
732
742
749
757
765
772
The Nome coins: some remarks on the state of research, by Katarzyna LACH
780
785
CONTENTS
794
800
809
816
822
828
839
846
856
864
Die Sammlung von Lokalmythen griechischer Stdte des Ostens: ein Projekt der
Kommission fr alte Geschichte und Epigraphik, by Johannes NOLL
872
878
888
893
901
Could the unofficial mint called Atelier II be identified with the officinae of
Chteaubleau (France)?, by Fabien PILON
906
CONTENTS
911
916
926
933
941
A stone thesaurus with a votive coin deposit found in the sanctuary of Campo
della Fiera, Orvieto (Volsinii), by Samuele RANUCCI
954
964
973
Numismatics and archaeology in Rome: the finds from the Basilica Hilariana,
by Alessia ROVELLI
983
991
999
1004
1013
1019
1020
1025
CONTENTS
1037
The iconography of two groups of struck lead from Central Italy and Baetica in
the second and first centuries BC, by Clive STANNARD
1045
1056
Personalized victory on coins: the Year of the Four Emperors Greek imperial
issues, by Yannis STOYAS
1067
1073
1082
Gold and silver first tetrarchic issues from the mint of Alexandria, by D. Scott
VANHORN
1092
Note sulla circolazione monetaria in Etruria meridionale nel III secolo a.C., by
Daniela WILLIAMS
1103
Roman coins from the western part of West Balt territory, by Anna ZAPOLSKA
1115
Antiquity: Celtic
La moneda ibrica del nordeste de la Hispania Citerior: consideraciones sobre
su cronologa y funcin, by Marta CAMPO
1135
1142
1148
1155
Trading with silver bullion during the third century BC: the hoard of Armua de
Tajua, by Manuel GOZALBES, Gonzalo CORES & Pere Pau RIPOLLS
1165
1173
10
CONTENTS
1182
1191
1198
New coin finds from the two late Iron Age settlements of Altenburg (Germany)
and Rheinau (Switzerland) a military coin series on the German-Swiss border?,
by Michael NICK
1207
1218
Antiquity: general
La moneda en el mundo funerario-ritual de Gadir-Gades, by A. ARVALO
GONZLEZ
1231
Neues Licht auf eine alte Frage? Die Verwandschaft von Mnzen und Gemmen,
by Angela BERTHOLD
1240
Tipi del cane e del lupo sulle monete del Mediterraneo antico, by Alessandra
BOTTARI
1247
Not all these things are easy to read, much less to understand: new approaches to
reading images on ancient coins, by Geraldine CHIMIRRI-RUSSELL
1254
1261
Preliminary notes on Phoenician and Punic coins kept in the Pushkin Museum,
by S. KOVALENKO & L.I. MANFREDI
1266
Greek coins from the National Historical Museum of Rio de Janeiro: SNG
project, by Marici Martins MAGALHES
1278
1292
The sacred life of coins: cult fees, sacred law and numismatic evidence, by
Isabelle A. PAFFORD
1303
Anton Prokesch-Osten and the Greek coins of the coin collection at the
Universalmuseum Joanneum in Graz, Austria, by Karl PEITLER
1310
CONTENTS
11
1323
1334
Greek and Roman coins in the collection of the orum Museum, by D. zlem
YALCIN
1344
1355
1360
1372
1382
1392
1401
1408
1411
Norwegian bracteates during the twelfth and thirteenth centuries, by Linn EIKJE
1418
1426
1431
1436
1441
12
CONTENTS
1452
1458
1464
Among farmers and city people: coin use in early medieval Denmark, c. 10001250, by Gitte Tarnow INGVARDSON
1470
1477
1492
Byzantine coins from the area of Belarus, by Krystyna LAVYSH & Marcin
WOOSZYN
1500
Die frheste Darstellung des Richters auf einer mittelalterlicher Mnze?, by Ivar
LEIMUS
1509
Coinage and money in the years of insecurity: the case of late Byzantine
Chalkidiki (thirteenth - fourteenth century), by Vangelis MALADAKIS
1517
1535
The money of the First Crusade: the evidence of a new parcel and its
implications, by Michael MATZKE
1542
1552
1557
1564
1570
CONTENTS
13
1580
1591
The discovery of a hoard of coins dated to the fifth and sixth centuries in
Klapavice in the hinterland of ancient Salona, by Tomislav EPAROVI
1597
1605
1614
1620
1625
1633
1640
1649
1664
1671
1679
The money box system for savings in Amsterdam, 1907-1935, by G.N. BORST
1687
1693
14
CONTENTS
1704
1713
1719
1725
1734
1744
1748
Representaciones del caf en el acervo de numismtica del Museu Paulista USP, by Angela Maria Gianeze RIBEIRO
1752
Freiburg im echtland und die Mnzreformen der franzsischen Knige (16891726), by Nicole SCHACHER
1758
1765
1774
The political context of the origin and the exportation of thaler-coins from
Jchymov (Joachimsthal) in the first half of the sixteenth century, by Petr
VOREL
1778
The late sixteenth-century Russian forged kopecks, which were ascribed to the
English Muscovy Company, by Serguei ZVEREV
1783
1789
1796
CONTENTS
15
1807
1813
1821
1826
Numismatic research in Japan today: coins, paper monies and patterns of usage.
Paper money in early modern Japan: economic and folkloristic aspects, by
Keiichiro KATO
1832
1841
A study of medieval Chinese coins from Karur and Madurai in Tamil Nadu, by
KRISHNAMURTHY RAMASUBBAIYER
1847
1852
Silver fragments of unique Byid and amdnid coins and their role in the Kel
hoard (Czech Republic), by Vlastimil NOVK
1862
Numismatic evidence for the location of Saray, the capital of the Golden Horde,
by A.V. PACHKALOV
1869
Le regard des voyageurs sur les monnaies africaines du XVIe au XIXe sicles, by
Josette RIVALLAIN
1874
Les imitations des dirhems carrs almohades: apport des analyses lmentaires,
by A. TEBOULBI, M. BOMPAIRE & M. BLET-LEMARQUAND
1884
1890
Glass jetons from Sicily: new find evidence from the excavations at Monte Iato,
by Christian WEISS
1897
Medals
Joseph Kowarzik (1860-1911): ein Medailleur der Jahrhundertwende, by
Kathleen ADLER
1907
16
CONTENTS
1920
1931
1937
1945
The rediscovery of the oldest private medal collection of the Netherlands, by Jan
PELSDONK
1959
1965
Shines with unblemished honour: some thoughts on an early nineteenthcentury medal, by Tuukka TALVIO
1978
General numismatics
Dalliconografia delle monete antiche allideologia della nazione future.
Proiezioni della numismatica grecista di DAnnunzio sulla nuova monetazione
Sabauda, by Giuseppe ALONZO
1985
1993
The Count of Caylus (1692-1765) and the study of ancient coins, by Franois de
CALLATA
1999
2004
2012
2017
A prosopography of the mint officials: the Eligivs database and its evolution, by
Luca GIANAZZA
2022
2027
CONTENTS
17
2036
2044
Foundation of the Hellenic World. A new private collection open to the public,
by Eleni PAPAEFTHYMIOU
2046
2047
2058
2072
2082
2089
2100
From the electrum to the Euro: a journey into the history of coins. A multimedia
presentation by the Bank of Cyprus Cultural Foundation, by Eleni ZAPITI
2102
Highlights from the Museum of the George and Nefeli Giabra Pierides
Collection, donated by Clio and Solon Triantafyllides: coins and artefacts, by
Eleni ZAPITI & Evangeline MARKOU
2112
Index of Contributors
2118
1842
JUDITH KOLBAS
the legend in the Mongolian language written in Uyghur script. However, the gold added arighu
altan at the bottom to read from the bottom up Pure gold/struck by/Abaqa/in the name/of Khaqan
(Fig. 1).
Fig. 1. Abaqa Khan, Tabriz, 676 H, 4.34 grams, 21 mm., No. 732, Oriental Coins Database, Zeno.ru.
It was a magnificent issue, which clearly defined the reformed monetary system and allied itself with the earlier silver of 674/1275 through the use of the same basic type. However, there was
a problem using the new gold within the predominant silver system, namely its weight and purity
did not allow it to be exchanged at a practical rate.
The Islamic weight system used in Greater Iran was based on the mithqal, divided into 24
carats. There were four mithqals in use at the time the Mongols arrived, the one used by the
Byzantines still prevalent in western Anatolia, the one retained from the Sassanian rulers of Iran,
a pre-Mongol one used intermittently by the Caliphate and other Islamic states, and the fairly
obscure one that the Mongols adopted from Mardin (Table 1).8 In every case, gold was valued at
and therefore generally struck to the full mithqal while silver was struck to three-quarters, seventenths or two-thirds of the mithqal; that is, at 18, 17 or 16/24ths. Above all, the exchange value was
calculated in whole fractions according to weight.9
TABLE 1. Mithqal Weight Systems
sources for his statements. Moreover, he does not give the gram equivalent
of carats, so the reader is bereft of a comparison between the putative
system and the actual weights of the coins in the catalogue.
1843
Abaqas gold and that of his immediate successors averaged 4.28 grams for the single coin,10
which does not match any of the above mithqals. However, an analysis of the purity can explain the
situation. Gold issues from his reign and the next two khans have not been tested for fineness, but
those from the following khan, Gaykhatu, and his successors have been. In those issues, purity was
about seventy-seven to eighty per cent (Table 2).11 Nevertheless, since the weight was the same for
issues from Abaqa through Gaykhatu, it is likely that purity also remained constant. The following
study is based on this assumption, namely that weight and purity were basically constant.
TABLE 2. Gold purity
If alloy and weight were consistent, a gold coin weighing 4.28 grams at about seventy-eight
per cent purity would have had a true value of 3.36 grams of pure gold or 18 carats or three-quarters of the 4.48-gram mithqal.12 This value placed it on a recognized accounting basis of whole
fractions, making it possible to calculate gold for exchange operations and tax purposes.
Unfortunately, silver was not on the same mithqal. In Abaqas first phase in 671/1273, it was
struck to the Caliphal mithqal of 4.125 grams, the unit coin being two-thirds of that mithqal or 16
carats at 2.75 grams. Then in 678/1279 during the protracted second stage of the reform, silver was
changed to the 4.48-gram mithqal, which matched the one that gold was already on. Gold and sil10
The weights of gold coins are as follows taken from the website of
Zeno.ru, Oriental Coin Database, mer Dilers catalogue. and the authors
data collection. There are enough of these rare coins to produce a reliable
histogram to determine a weight profile.
Abaqa: 4.34, 4.37 (Zeno.ru); 4.30 (Diler, A 87, p. 264. He cites a
published coin as 667 H. This date is from the Spink, June 1990, catalogue,
which this author easily read as 676 H. Other published dates Diler lists as
670 and 677 H, which are highly suspect and may have occurred because of
an incomplete or worn flan.); 4.23, 4.28, 4.27 (author from Spink, March
1987, Lot 463; Spink, June 1990, Lot 383).
Tegudar: 4.31 (Diler, Ah 129); 4.29 (author from Spink, March 1987,
Lot 464).
Arghun: Plate 2 is not included because the measurement is not detailed
enough.
1844
JUDITH KOLBAS
ver might have been exchanged then; however, the unit silver coin was struck to 13 carats or 2.43
grams.13 Later, in 683/1284, silver was put on the 4.24-gram mithqal, the unit coin weighing on
average 14 carats or 2.47 grams.14 The numbers 13 and 14 are both not whole fractions in a base-24
system, so the Mongols completely broke away from the normal method for evaluating different
metals with each other. These two divisions of the mithqal were unique in the Mongol state and
were ultimately abandoned. In this period, not only did the carat levels most certainly prevent any
integration of gold and silver into a single monetary system but the different mithqals did as well.
However, throughout all of these changes, silver was generally between 90 to 95 per cent pure.15
The reduction to a lower mithqal weight in 683/1284 did not mean that the unit silver coin
itself was lowered. Rather, raising it one carat from 13 to 14 made the actual weight of the coin
heavier by 0.04 of a gram from 2.43 to 2.47 grams. It seems that a good deal of these changes in
silver were partly in conjunction with increased external trading activities.16 Moreover, the reforms
worked if there was a strong state to enforce them and no intention to integrate different metals.
Therefore, the second stage of Abaqas reform abandoned the goal of the initial one. In fact, these
changes in the silver system did not affect gold, which stayed at the same average weight with the
perceived 18 carats of pure metal at the same mithqal of 4.48 grams. As a result, it was not possible
to determine value based on weight between the two metals because they operated on different
mithqals. Instead of working within one mithqal in different proportions, as in the Islamic system,
this Mongol practice used two mithqals, the heavier one for gold and the lighter one for silver.
Abaqas immediate successors continued to back away from integration. Abaqas brother,
Tegudar (680-83/1282-84), who took the Islamic name of Ahmad, became the next khan. He followed the same design, only matching it with the silver by placing his name in the reverse field in
Uyghur script and adding it in Arabic script at the bottom. However, he set a precedent of issuing
gold only to celebrate inaugurations.17 Abaqas son, Arghun (683-90/128491), also issued gold
but just as sparingly on special occasions. The only possible coin known is indicated in Plate 2.
The style is that of Tabriz from the first years of his reign, but the area for the mint is too worn
to read. It could have been issued at his inauguration, but after that Arghun did not strike gold in
Tabriz in spite of his major silver reform in 683/1284, already mentioned (Fig. 2).
Fig. 2. Arghun Khan, 4.2 grams, 25 mm, Tabriz, Date?, No. 64367, Oriental Coin Database, Zeno.ru
On the other hand, Arghuns successor, Gaykhatu (690-94/129195), formulated a new policy.
The financial officials did not alter silver but now concentrated their efforts on gold. It was produced
on an unprecedented scale,18 suggesting that the regime intended gold to become a fully functional
part of the monetary system. However, neither the purity nor weight changed from the level of previous khans. In 691/1292, Tabriz produced two types of obverses and two reverses.19 Both obverses
13
687/1288.
14
17
First, he issued gold in 681/1282 using Abaqa dies, then in his own
name later in the same year.
Ibid, p. 219.
Ibid, p. 273.
15
Ibid, Table 1.2, 22.
16
Ibid, p. 204. Increased trade is more readily evident in the reform of
1845
had the minting formula around the margin. The first obverse had the mint also written vertically at
the right edge, thereby
Tabrz was listed twice on the obverse. That obverse was combined in
Type 1 with a reverse silver die that had the mint in Arabic in the middle of the Uyghur lines following the Khurasani mint tradition. Therefore, Type 1 listed the mint three times. It was not necessary
to employ such an overstatement, but this was a new programme that grabbed whatever dies it could.
In Type 2, the same obverse with the mint at the right edge was paired with a different reverse die of
Uyghur that did not state the mint, following that standard Tabriz silver type (Fig. 3 type 2). Type
3 used the same reverse as Type 2 but changed the obverse, which dropped the extra mint at the right
edge. The last type identified the mint, Tabriz, only once in the normal minting formula.
Fig. 3. Gaykhatu Khan, Tabriz, 691 H, 4.3 grams, 23mm., No. 67565, Oriental Coins Database,
Zeno.ru
Gaykhatu was replaced by Baydu (694/1295), who lasted only six months. During his reign,
there was much political turmoil and civil war. Nevertheless, the financial system continued to
evolve. He also produced a good deal of gold, and his issues of 694 and 695 closely followed the last
type of Gaykhatu (Plate 4). Although the legend was practically indistinguishable from and the fineness stayed the same as Gaykhatus coinage, Baydu increased the weight of the average coin. The
normal one weighed 4.36 grams, but at seventy-nine per cent purity, it had 3.44 grams of pure gold
or 20 carats on the 4.125-gram mithqal. For the first time, gold moved off the 4.48-gram mithqal
and surprisingly fell below the mithqal for silver. Therefore, the coinage was a curious mixture of a
lower mithqal but a higher carat level of pure gold. However, 20 did not produce a whole fraction
in the base-24 carat system; so this gold stood on its own, again without any conversion possibility.
Fig. 4. Baydu Khan, Tabriz, 694-5 H, 4.63 grams, 22mm, No. 47940, Oriental Coins Database,
Zeno.ru
Ghazan became the next khan (694-703/12951304) and continued the relentless push to refine the monetary system. His reform, starting in 696/1297, adopted the standard of the 4.24-gram
mithqal from silver. However, the single coin was struck two carats below the previous silver
coinage to 12 carats or 2.12 grams. Significantly, this weight applied not only to silver but to gold
Contemporaries considered the khan to be thoroughly profligate.
Presumably, all the gold he issued helped to create this view without the
sources testifying to the financial reform. Note Wassafs diatribe but not a
negative word from Rashid al-Din; The Cambridge History of Iran, vol. 5,
18
The Saljuq and Mongol Periods , ed. J.A. Boyle; J.A. Boyle, Dynastic and
Political History of the Il-Khans, pp. 303-421, 374.
19
This analysis changes the types put forward in Kolbas, p. 286.
1846
JUDITH KOLBAS
as well, putting the unit coin of both at half a mithqal. Finally, exchange calculations could hardly
have been easier. In this reform, both gold and silver alloys were ninety-five to ninety-eight per
cent pure. Ghazan also continued the practice of issuing large amounts of gold (Fig. 5). The drastic
reform followed Baydus lead by abandoning previous practice, but Ghazans reform simplified
the system to conclude the integration of gold and silver.
Fig. 5. Ghazan Khan, Shiraz, 700 H, 8.65 grams, 27.1 - 27.4 mm, No. 45557, Oriental Coins Database, Zeno.ru
Uljaytu (703-17/130417) maintained his brothers policy, only slightly changing the obverse
design (Fig. 6), and then advancing policies in his own reform of 709/1309. By this point, gold and
silver were firmly on the same mithqal and struck in the same units according to regional practice.
The Islamic concept of different proportions for exchanging the two metals had been completely
abandoned. There was no turning back after the final reform of Ghazan Khan.
Fig. 6. Uljaytu Khan, Kashan, 706 H, 4,26 grams, 19.6 mm, No. 52797, Oriental Coins Database, Zeno.ru
In conclusion, the Mongols completely transformed the frozen, archaic and awkward Islamic
pattern, in which weight and pure metal jostled in various proportions to determine the exchange
rate between gold and silver. Rashid al-Din made this clear in the statement that valuation of
gold and silver is by the quantity of fineness.20 The old pretence had probably rarely worked
anyway, but the Mongols grasped reality and made it possible to allow market forces to determine
the value of gold to silver, as Rashid al-Din noted: (Ghazan) continuously checks What is the
price of pure gold? Then he orders that they should mint it with a result that appropriately they
set the price (for buying and selling), which is not any different (from the market price).21 A simple exchange between the two metals was now possible because gold and silver were issued, first,
at the same weight and, second, at the highest level of purity. These aspects altered fundamental
relationships between metals, standards of account and monetary liquidity. In short, the continuous Mongol reforms significantly advanced the theory and practice of money in the Middle East.
20
For the beginning of this activity, Ibid, pp. 219-20; Rashid al-Din for
later acknowledging it in Ghazans time, Chapter 20, Jami al-Tawarkh,