The Coin as Blazon or Talisman: Paramonetary Functions of Money

Diogenes 26 (101-102):70-88 (1978)
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Abstract

Magic and religion are at the origin of the concept of money as a unit for measuring value. Actually, they determined the first forms money took: precious objects, engraved stones, amulets and talismans which conferred a special power, within a social group, on the one who possessed them. In time, this power came to include the power of acquisition in commercial terms, but its original ties with magic were never lost. Aristotle clearly saw the relationship between a certain concept of money (in Politica) and a new ethical concept as a corrective for the imbalances within a social community (in Ethica Nicomachea). If we look closely, we see that this ethical concept is not in opposition to the former but emphasizes the double aspect of the idea of money in antiquity, an idea which has survived, with some modifications, in Christianity and the modern era.

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