Branded Content by Cosmic Press

Discoveries and developments by ancient civilizations have shaped the way that modern life looks. One lesser-known civilization that had a huge impact on life as we know it is the Lydian Kingdom, according to Rory Brown, the managing partner of Nicklaus Brown & Co. 

 This civilization, which was founded during the Iron Age in what was known as western Asia Minor, started around 1200 BC. It wasn’t until the Persian Empire conquered the Lydian Kingdom in 546 BC that it ended. 

 In the close to 700 years of its existence, the Lydian Kingdom made multiple lasting contributions to society. 

 The First Coins 

 Around 600 BC, King Alyattes of the Lydian Kingdom is credited with minting the Lydian Stater — the first coins to be minted in specific denominations. To do so, the kingdom used measures of the precious metal electrum on a standardized basis.  

 The Lydian Kingdom stamped an insignia on the coins that proved it was backed by the government, which essentially vouched for its value. In fact, the Lydian Stater was considered so stable that neighboring civilizations such as the Aegean Greeks and Persians accepted them — making them the first known international currency. 

 King Alyattes’ son, King Croesus, took Staters one step further to create the first bi-metallic coinage system in the world. King Croesus created two separate coins, with more valuable ones made of gold and less valuable ones made of silver — rather than having all Staters be made of electrum.  

 Using pure metals instead of a naturally occurring alloy gave Staters true uniformity. This system served as the basis for just about every coinage system that followed it. 

The First Free Market 

 According to Rory Brown, the Lydian Kingdom was considered a center for international trade. Combined with the attractiveness and value of the civilization’s coins, merchants from all over came to the kingdom to sell and buy valuables.  

Ultimately, this led to the Lydian Kingdom becoming the largest market center in the world at the time and its first free market. As a result, Lydia became the epicenter of trade in the Asia Minor region. 

Major Road System 

For all this trade to actually work, there needed to be a way to transport the goods. This was done through the construction of what became known as the Royal Road. 

This road stretched an astonishing 2,699 kilometers. It connects the Lydian capital of Sardis to the Persian Empire capital city of Persepolis. In between, major trade hubs were set up for those who didn’t want to make the entire journey. 

To ensure the safety of the Royal Road, it was constructed right through areas that were already inhabited. It also featured the world’s first “rest stops,” which were placed every 28 kilometers to allow travelers to rest and trade out horses. 

Large sections of the Royal Road ended up being used by the Roman Empire all the way through the fourth century AD. The empire considered it so critical to its operations that it placed legions of guards all along it.  

About Rory Brown  

Rory Brown is a Managing Partner at Nicklaus Brown & Company. He is the Executive Chair of Goods and Services and Blueriver. Providing excellence in the industry for over two decades, Mr. Brown was chosen as the Financial Services Entrepreneur of the Year by Ernst & Young and he has founded several companies in the Inc. 500.