Antique and Medieval Coins

Judging from the local finds, it was in the days of Alexander the Great that coins made their first appearance on the territory of Azerbaijan. These were silver coins - drachmas and tetradrachmas - of the great conqueror himself. Alongside the broad circulation of Hellenistic coins in ancient Azerbaijan - Atropatheneum and Caucasian Albania - the mintage of domestic means of circulation silver coins imitating those of Alexander the Great and the kings of Seleucia and Parthia - was launched here since the 3rd century B.C. The conquest of Azerbaijan by the Arabs in the 7th century was marked by an advancement of money circulation and increase in intensity of money minting. From the second half of the 9th century A.D : The coinage , in particular, silverir hams of such feudal Azerbaijan states as those of the Shirvanshahs - Mazyadids ( in Shirvan), the Sajids, the Salarids, the Ravvadids, and the Sheddadids ( in Arran) not only met the requirements of the domestic market of Azerbaijan, but also played the role of international money alongside the Caliphate’s coins . in the 15th - 16th centuries Azerbaijan economy and culture blossomed forth anew. High- standard coins tangas of the Shirvan -shahs circulated throughout the whole of Transcaucasia, playing the role of a universal medium of payment. In the south of the country , in Arran and Azerbaijan , several states sprang up one after another under the aegis of the Turkic dynasties of Kara-koyunlu and Ak-koyunlu, and the Sefevids , which minted not only silver but also gold coins. After the formation of the Sefevids state in the early 16th century, objective conditions were created therefor the development of productive forces and the shaping up of spiritual values. The monetary system of the Sefevids based on a heavyweight 9.4-gramme silver unit reflected in a certain sense the economic and political might of that state. Ended in the annexation of Azerbaijan to Russia the khans’ coinage was stopped , and Azerbaijan was incorporated in Russia’s sphere of money circulation.