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Books > History > World history > BCE to 500 CE
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Money in Ptolemaic Egypt - From the Macedonian Conquest to the End of the Third Century BC (Hardcover)
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Money in Ptolemaic Egypt - From the Macedonian Conquest to the End of the Third Century BC (Hardcover)
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This book explores the impact of Alexander the Great's introduction
of coined money on the economy and society of Egypt and its
political implications for the formation of the Ptolemaic state. It
argues that the introduction of coinage happened slowly, spreading
gradually from Alexandria into the chora. Under Ptolemy II,
however, Egypt was aggressively monetised. Using both numismatic
and papyrological evidence, the workings of a rural monetary
economy are reconstructed where coinage was in high demand, but in
short supply. It is argued that by the middle of the third century
BC Egypt was much more thoroughly monetised than is usually
assumed, but that the degree of monetisation was sustained only by
an extensive credit economy as well as ad hoc commutation of
monetary payments into kind. Contextualising the complexities of
credit and banking in rural Egypt, the book offers a fresh picture
of their function in the ancient economy.
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