The Greek-
Scythian period

The Roman-Sarmatian period

The Arabic-Byzantian period

The Kiev-
European period

The Mongolian-Tatar period

The Polish-
Lithuanian period

The Russian-
Soviet period

The independent period


   Brief history of money circulation in Ukraine
Ru  En  Ua  

Greek - Scythian period
VII c. BC - I c. AD

Money circulation in the Southern territory of modern Ukraine was born in epoch of Greek's movement here from Asia Minor and development of trade relationship between them and other Greek world, and also between aborigen Scythian tribes.

The end of the VII - VI century BC. The first equivalent of money in the Northern Black Sea Coast were tips arrows with blunt and round ends other configurations what excluded them from the using as a weapon. They were issued in Scythian country and also in Greek's settlements in Berezan island and in Olbia. In VI BC the cast coins in the shape of "dolphins" and "fishes" appeared in Olbia. At the end of this century Panticapeum started issue silver coins.

V century BC. Olbia put into circulation bronze cast coins - "ases" of round shape with Athena and Gorgona images and later Demetra and also their fracses. In Kerkinitida the first coins were also cast coins "arrows" and "fishes". Nikoniy issued series of cast coins with the town protector's name - Scythian king Skil. Also cast imitations of the money of the town of Istriya were issued by him. Panticapeum continued to mint the coins, the Temple of Apollon began minting the coins.

The end of the V-IV century BC almost all of the Greek towns in the Northern Black Sea Coast were crossed to mint their own silver and copper coins. Sindy, Nimfey, Theodosia, Chersonessos, Tyra, Phanagoria. The golden coins were minted also in Olbia and Panticapeum. As we know, the Scythian coins were good imitations of the silver drahmes by the Macedonian king Philip II. The coins of the Western and Southern Pontos and other Greek town - policies were included into money circulation of the Northern Black Sea Coast staters.

III century BC. The town - policies Olbia, Tyra, Chersonessos, Panticapeum were continued to produce the coins. The mint was finished in Theodosia and Kerkinitida. Theodosia was placed under the control of the Bospor's state and Kerkinitida was placed under the control of Chersonessos policy. The Celtic tribes in Pridnestrovye Region and in the land near Danube minted their own golden and silver states.

II century BC. Money circulation in the Northern Black Sea Coast didn't change. The coin yards of Pantikapeum, Olbia, Tyra, Chersonessos continued issues. Olbia was placed under the control of Scythian kings Skilur and Akrossa.

I century BC. All main town-policies of the Northern Black Sea Coast were placed under state of the king of Pontos Mithradates VI the Great. These conquest coused coins supply from the Pontos towns Sinope, Amisos, Amastris and others into the Northern Black Sea Coast and thair partly remint on the coin-yards. In the middle of the I century BC Olbia and Tyra were under the Gets invasion and in that time they stoped to mint the coin.

Roman - Sarmatian period
I-V centuries AD.

I c. AD. Money circulation functioned actively all over the Black Sea Coast territory of modern Ukraine. Bosporos Kingdom got under authority of Roman Empire and from the beginning of the I century AD minted gold and brass coins with the images of Roman Emperors and Bosporos kings. The town of Tyra became a Roman provincial town and also minted the coins with the images of Roman Emperors. In money circulation of the Northern Black Sea Region the coins of Roman Empire circulated actively. After Gets mayhem the minting of brass coins in Olbia revived, where gold and brass coins were minted with the names of Sarmatian kings Farzoy and Ininthimens.

II c. AD. Minting in the towns of Olbia and Chersonessos continued. Bosporos Kingdom and Tyra continued minting being under Roman protection. In money circulation Roman dinarius circulated actively.

III c. AD. In the first quarter of this century Olbia and Chersonessos got under Roman Empire's control and began minting coins with the images of Roman Emperors. However from the middle of the century the minting was stopped probably because of being caught by barbaric tribes. Scythian-Sarmatian and Gothic tribes minted imitations to Roman dinarius in silver and brass. Thracean imitations to Roman brass coins also circulated.

IV - V c. in the first half of IV century minting was stopped in Bosporos State. Coin yards of Olbia, Tyra and Panticapeum were in decline. The total crisis of antic system for the Northern Black Sea Region was aggravated by devastating raid of Huns in the eighties of IV century. Only Chersonessos continued minting having got under control of Eastern Roman Empire, and issued the coins with the images of Roman Emperors Theodosius II, Leo I, Zeno and the others.


Arabic-Byzantine period
VI-X centuries.

VI-VII c. Among the towns of the Northern Black Sea Coast only Chersonessos implemented coin minting. The coins were being minted on behalf of Emperors Justin II, Maurice, Heraclius. In money circulation the coins of Byzantine Empire circulated actively. All over the rest of modern Ukraine territory money circulation was frozen. Perhaps, it happened due to some war activities or intertribal fight.

VII-IX c. In the south of modern Ukraine still dominated Byzantine coins and cast coins of Chersonessos (Slavic name is Korsun) issued on behalf of Emperors Michael III, Basilius I, Leo IV and Alexander. At the end of VIII c. Sasanidian drachmas and Kufic dirhams of different eastern countries - Omeyad, Abbasids, Samanid and the other-started circulation.

X c. All over Kievan Rus territory eastern coins and their immitatons dominated and also "rezans" - offcutts of Kufic dirhams. In the South of Ukraine coins and cast coins of Chersoneses with the initials of Emperors Constantine VII, Roman II, Johannes I and the others. Due to penetrating of Christianity and development of trade in Kievan Rus at the end of X c. the Great prince Vladimir started minting the first ancient Russian coins from silver and gold - "srebrenik" and "zlatnik". In Kuban Region Tmutarakhan Princedom arose, which was under Kievan Rus control. From the second half of X c. this princedom started issue of brass and silver imitations to Byzantine milliarense.


Kiev-European period
X - XIII c.c.

X - XI century in the Kievan Rus continue issue gold and silver coins of Grand prince Vladimir, Svaytopolk, Jaroslav the Wise and so on. Fast stopping the minting of ancient Russian silver coins maybe link with that they on the whole had low standard of silver and market taked them badly, at which was get into the habit to loudstandarding of Kufic derhams. Also it's possible that it's happened because of abundant spread into ancient Russian market of loudstandarding silver coins of Europian countries - dinarius - and also of Bizantine gold, silver and copper coins. Besides it in circulation still staying a significant quantity of east coins (dirhams). From the middle of XI century in Kievan Rus begin issuing cast silver coin - grivna - which become general coin of Rus, and also it dropped parts - rubles. At the first part of XI century Chersonessos stopped it minting. Its last coins issued with initials of Bizantine Emperor Roman IV.

XIII - beginning of XIII century. The general coin of Kievan Rus staing silver ingots - grivna. Except Kiev, Chernigov, Novgorod and Litva also issuing them. In the circulation present European denarius, Bizantine silver and copper coins and also coins of Muslim countries of East. Because of constant wars with polovets, money circulation begining gradually go out and start changing into barter. After invasion of Mongol-Tatar in 1240 money circulation of the territoria of Kievan Rus - Ukraine was died.


The Mongolian-Tatar and The Polish-Lithuanian period
Middle XIII - XVIII century

Middle XIII - XIV century. Under hits of regiment of khan Batu in the middle XIII c. neighboring Kievan Rus was crashed. Litva grabbed Kievan Region, Podolye and other Central and North Ukrainian lands, and also big part of Volyn. Poland owned of Galich land and part of Western Volyn. Bukovina become own of Moldavian Princedom.
Hungary owned Zakarpatye wich it owned at XI century already. According to the money circulation general part of conterporary Ukraine was devided into three fields: Mongolian-Tatar, Lithuanian and Poland. Mongol silver dirhams and copper coins were in circulation in the southern lands of the Ukraine which were included into staff of Golden Horde. These coins came from regions of Volga or were mined in the mints of Crimea. Lithuanian coin was used in the northern and central regions of the Ukraine, which were included into staff of Lithuanian Princedom. And Polish coin circulated in the contemporary western Ukraine which got under the control of Polish Kingdom. Its own minting of coins in these times was implemented by the city of Lvov and also Kiev during the time when prince Vladimir Olgerdovich was governing here and Volyn Pricipality during the period of prince Feodor Liubartovich.

XV - XVI c.c. Crimean Khanat arises in the ruins of Golden Horde in the south of the Ukraine which started its own coinage on behalf of dynasty of khans Gireys. Autonomous Genoese-Tatar town Kaffa (now is Feodosiya) was formed in the Crimea in the middle of the XV c. This town also issued its own silver and copper coins. The town of Apocastro (now is Belgorod-Dnestrovskiy near Odessa) which got under the control of Moldavian Princedom issued copper coins and over-minted silver dirhams of Golden Horda. Moldavian coins were wide spread on the south-west lands of the Ukraine. In the middle of the XV c. Turkey occupied Constantinople and Byzantine Empire was collapsed. After that Turkish coins started spreading on Ukrainian territory.

XVII-the end of XVIII c.c. The coins of Poland and also her vassals and other European states such as Silesia, Riga, Danzig, Czech, Hungary, Sweden were very wide spread. On the begining of the second half of the XVII c. a great amount of silver kopecks of Moscow State and also "efimki" - European tallers which were over-minted in Moscow started spreading on the left shore of Ukraine. The coins of Crimean Khanat and Osttoman Empire still circulated on the south of Ukraine almost till the end of XVII c. At that time Russia almost liberated the South of Ukraine from Ottoman Empire and Crimean Khanat stopped its existance.


Russian-Soviet period
the end of XVIII - 1991

The end of XVII-XIX c.c. The coins of Russian Empire circulated practically in all the territory of Ukraine by the end of XVIII c. Larger part of Poland was annexed to Russian territory. A little amount of coins of Polland and also Western Prussia, Livonia, Moldova - Valahia, Finland, Georgia and other states were included temporary or constantly in staff were circulated there. The coins of these states started spreading in the Russian empire in a little amount. In the main Austrian and Hungarian coins were circulated in the western lands of Ukraine wich were included in staff of Dual Empire.

XX c.c. Over the years of the first world war temporary money and metallic bons were put into circulation for occupied territory. This money like coins of Germany, Russia and Austrian empires circulated in the territory of Ukraine at that time. In 1918 - 1920 Ukraine became independent and managed to make a few issues of its own paper money, but didn't manage to mint coins. During the postrevolution time some Ukrainian establishments issued money mixes - metal bonns which had limited use.


The Period of Independence
since 1991

August of 1991. Ukraine became the new independent European country with the population more than 50 million people. As its historical predecessor Kievan Rus which in X-XI centuries declared its sovereignty to the all civilized world by its own coins since 1995 Ukraine has minted its own coins. Its first commemorative coins started functioning on the 7 of May in 1995. They were dedicated to the 50 Anniversary of the Victory in the Great Patriotic War. As the first gold and silver coins which minted in the period of Vladimir the Great and Yaroslav the Wise the Ukrainian coins are stamped with the ancient national emblem - Trizub of Kievan Rus. In 1996 there was realized money reform and the new national currency started to function. It was called grivna traditionally. The next 1997 was marked by functioning of first Ukrainian golden coins. Kievan coin yard was opened in the same year. It mints the commemorative coins and coins for regular circulation by modern technologies.