ABSTRACT
In the preceding chapters we have traced the evolution and distribution of coining, and finally we have localized the coinage prerogative in the ancient world so far as the evidence will permit. It is now necessary to trace in detail the policy adopted in the exercise of this prerogative. But before any account can be given of monetary policy we must first assemble the evidence. For this evidence we shall have to rely mainly upon the coins themselves. From them we can ascertain what was the monetary metal, whether coins varied in quality, and, a little less certainly, what was the weight of metal in the standard unit, and what were the subdivisions. These subjects can conveniently be assigned to succeeding chapters. There is one matter of considerable interest which first calls for attention—namely, the reason for the types or ornaments upon early coins. This subject can conveniently be dealt with as the first aspect of early currency policy, because the choice of type lay with the authority in whom the prerogative was vested. It can also be conveniently discussed immediately after the coinage prerogative, because the types upon the coins reflect very clearly the real powers wielding the right of coining.
