If gold was to silver as 13·3:1, the gold unit of 130 grs. is equal to 8 silver pieces of 220 grs. (130 × 13·3 = 1765 ÷ 8 = 220·6). In our present state of knowledge it is impossible to decide in favour of either view, but it is at least evident that some such relation and adjustment must have existed between the three metals. In fact the problem which the Lydians tried to solve was not merely that of Bimetallism, but of Trimetallism.
These early electrum coins are simply bullet-shaped lumps of metal, like the so-called bean money formerly employed by the Japanese, having what is termed the obverse plain or rather striated, as a series of lines in relief run across the coin, whilst the reverse has three incuse depressions, that in the centre oblong, the others square. The coin here figured (from the British Museum specimen) is on the Babylonian silver standard (166·8 grs.), but it is on the staters of Phoenician standard that we first find any attempt at types or symbols. The idea of engraving some symbol on the punches used for stamping the incuse depressions was in truth the grand step towards the creation of a real coin. Thus a stater of 219 grs. which bears in the central incuse a running fox, in the upper square a stag’s head, and the lower an X-like device, may be regarded as the first complete coin as yet known. It would seem from this, therefore, that it was on the coast-region, where the Lydians came into contact with the artistic genius of the Greeks, that the real start in the art of striking money took place. Electrum was employed because it was found native in