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Coinage

It is generally assumed, on the authority of ancient commentators that Solon also reformed the Athenian coinage. However, recent numismatic studies now lead to the conclusion that Athens probably had no coinage until around 560 BC, well after Solon's reforms. Nevertheless, there are now reasons to suggest that monetization had already begun before Solon's reforms. By early sixth century the Athenians were using silver in the form of a variety of bullion silver pieces for monetary payments. Drachma and obol as a term of bullion value had already been adopted, although the corresponding standard weights were probably unstable.