Lands of Asia layouts (Eng) 26.11.21

2 .5
Greek legend ΜΑΚΑΡΟΥ ΟΡTAΔΡΟΥ, were issued by the Yuezhi Hyrcodes or Urkod
dynasty. During the same period, Khorezm minted its own coinage for the first time.
These were large silver imitations of Eucratides tetradrachms weighing 13–16 grams.
Each of these groups of coins had a strictly local circulation and, judging by the
topography of their finds, circulation was limited to the area where they were minted.
This meant that local money markets developed and the demand for coins was
met by locally minted coinage. There were at least four such local markets within one
large area, like Sogdia.
Coin systems in the different regions of Transoxiana also varied. Silver and
bronze coins of different denominations were minted and circulated in Northern
Bactria. In Sogdia and Khorezm only silver coins were in circulation, and in Khorezm
only large denominations were in circulation, while in Sogdia both small and large
denomination coins were being used. The ‘tetradrachms’ in circulation here were
probably imitations of Euthydemus coins, which, judging by the topography of finds,
were in circulation throughout Sogdia.
The monetary system in Sogdia and Khorezm was clearly a departure from
the Attic system based on the drachma, which had survived despite the change in
the government of Bactria. The obolus and tetradrachm became the main units of
currency in Sogdia, and in Khorezm it was the tetradrachm. The shortage of small
change in Sogdia was apparently remedied by numerous issues of small silver coins –
oboli and fractions of them, while in Khorezm, several types of trade were probably
still dominated by barter.
The weight standards of the coins were also changing and began to deviate from Attic
standards. Thus, the weight of imitations of Euthydemus and Eucratides tetradrachms
ranged from 13 to 16 grams, while the Attic tetradrachm weighed 17.26 grams.
The fifth period (1st century AD to the first half of the 3rd century AD). The
money-based economy of this period in different parts of Transoxiana changed
radically along with the new political situation. In particular, there was a further
departure from Hellenistic traditions of coinage both in weight standards and coin
metals. The iconography and symbolism used also changed and were replaced
by local Asian norms and traditions. From the second half of the 1st century AD,
with the reign of Wima I Tak(to), the son of Kujula Kadphises, the southern part of
Transoxiana became part of the dominion of this powerful Kushan king.
Throughout the reigns of Wima I Tak(to) and Kanishka II, the money-based
economy of this area and the make-up of the coin supply followed the official minting
policy of the Kushan kings.
Political stability contributed to the rapid growth of towns and villages, and
crafts, agriculture and trade flourished, resulting in the intensive development of
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