The rude indentation on the reverse of the early pieces appears to have been succeeded by a hollow square, which in later examples is divided into segments, and these again, afterwards have some object delineated within them; still later, an object appears, occupying the whole area formed by the indented square, and shortly after the full stamp on each side presents us with the finished coin.

At a very early period some of the Greek colonies adopted a mode of coinage known as the incused. The punch-mark forming a distinct design, sunk in the coin, corresponding with the design raised by the die. (See Plate, No. 9.) The incused mode was soon abandoned in favor of the more usual method.

It is remarkable, that they, who established, more than twenty-five centuries ago, the first coinage as a circulating medium, laid the foundations of the very forms, sizes, and divisions, found at the present day in all the various currencies of Europe; this is strikingly seen in that of Great Britain the stater, drachma, and obolus, corresponding very nearly with the sovereign, shilling, and penny.

The art of coinage rapidly improved, and coins of surpassing beauty soon appeared in different states: those of Philip II., of Macedonia (Plate No. 5), and of his son, Alexander the Great (Plate No. 6), in immense quantities. The latter were struck in the various cities of Greece and Asia, the first letter of the name, or the recognized type of the city being put in the field.

The coinage of that period was far finer than it was a thousand years afterwards. The Greek and Roman Churches, holding the truth in unrighteousness, produced the dark ages in the arts, as well as in other things; showing in this also, that a perverted Christianity is more debasing than a refined paganism. (See Plates, Nos. 7 and 8.)

No coins are found of the kings of Israel and Judah. The

earliest known coins of the princes of Judea commenced with the shekel of Simeon, B. C. 134-135.

It is strange, also, that no coins are found of the Pharaohs, or of the celebrated kings, of ancient Egypt. The coins of the kings of Egypt commence with Ptolemy Soter, B. C. 300-285,

and end with Cleopatra, B. C. 50--30. Cleopatra has more credit for beauty, in history, than her likeness on her coins would warrant.

The first Roman coins, according to Pliny, were of brass; and called, from the device of domestic animals stamped upon them, Pecunia, from pecu, cattle; from which comes our word pecuniary. Some of these pieces stamped with an ox, some with a sow, etc., are yet extant; they are quite rare. One in the Pembroke collection, oblong square shaped like a brick, weighed nearly five pounds avoirdupois. The common piece called the Es, brass or bronze, was first made of the weight of twelve ounces. The weight of it was afterwards reduced by the exigency of the State in times of war. The Æs, or pound, was divided into halves, quarters, ounces, etc., called semis, quadrans, uncia, etc. The specimens of the Es now existing have on one side the two-faced head of Janus, and on the reverse the prow of a galley. This device is referred to by Macrobius, where he speaks of the Roman boys when gambling, tossing up the pieces and crying, Heads or ship.

The series of Roman family or consular coins before the empire, of which there are a great variety, are very interesting; as in them we first find records of historical events, or popular traditions: such as one of the coins of the Tituria family, commemorating the rape of the Sabines, and a coin of the Æmilia family, illustrating a passage in Josephus, who informs us that M. A. Scaurus having invaded Arabia, Aretas, the king of that country, purchased peace of the Romans for the price of five hundred talents.

The series of Roman imperial coins furnish an unrivaled collection of authentic portraits, extending from Julius Cæsar down to Constantine the Great and his immediate successors. Their reverses are extremely various: a new coin being struck by each emperor to commemorate every conquest, and almost every important event of his reign.

The first coins of ancient Gaul or France, and of the ancient Britons, were apparently copied from the silver coins of

Philip of Macedon, which found their way over Europe. The coinage of these countries became more and more rude as copies were afterwards made from copies.

This fact shows that a rude execution is not always a proof of an early coinage. We have already referred to this in the comparison made between the beautiful coins of four centuries before the Christian era with the rude coinage of ten centuries later.

Some rare ancient coins bring very high prices; but sometimes such coins suddenly become very plenty. In the last century the coins of William the Conqueror of England were extremely scarce, and they continued to bring high prices till in 1833, when an immense number, amounting to about twelve thousand, were discovered in a leaden chest at Beaworth in Hampshire.

It is remarkable that notwithstanding the abundance of gold and silver in Mexico and Peru when they were discovered, the natives did not use them for currency. The circulating medium of the Aztecs was Cocoa seed. The Peruvians used for the same purpose the pod of the Uchu or capsicum. In Africa at the present day the common white cowrie shell is their money or representative of value. In the year 1840,