The History of the Drachma – Part 1: How It All Began

The History of the Drachma – Part 1: How It All Began

Only 15 days left until our Drachmen Fest on September 29! Until then, we'll take you here on the blog on a small daily journey through the almost 2,700-year history of the drachma — bite by bite, just like our mezedes.

Part 1: The Birth of a World Currency

The very first drachmas were probably minted around 600 BC on the small island of Aegina — made of silver, bearing a turtle as their symbol. This makes the drachma one of the earliest coined currencies in history altogether, long before most of today's European countries even had coins of their own.

The name itself is wonderfully practical: "drachma" comes from the ancient Greek verb "drassesthai" — "to grasp" or "to take a handful." A drachma was originally, quite literally, worth as much as one could grasp in one hand of small metal rods (the forerunner currency called "obeloi"). Six such rods made up one drachma — which, incidentally, is also where the word "obolus" comes from, still used today for a small donation.

The most famous drachma, however, came from Athens: the "owl drachma" (Greek: glaux), minted from around 510 BC, showing the owl of the goddess Athena on one side and her head on the other. This coin was so trusted and widespread throughout the ancient Mediterranean that it could almost be compared to today's US dollar as an international reserve currency.

Tomorrow the story continues: how the drachma survived the Roman Empire, the Byzantine Empire, and centuries of foreign rule — or didn't, quite. Stay tuned!

Mastiha Mezedopolio – Taverna Restaurant, Arndtstr. 12, 10965 Berlin-Kreuzberg