Silver used as form of currecy in Land of Israel 3,600 years ago

For years, researchers had discovered dozens of silver hoards in Israel from the Bronze and Iron Ages, but they were often thought to be raw metal, jeweler's scraps, or foundation deposits.

Silver was used as a means of payment in the Land of Israel as early as 3,600 years ago, more than a millennium before the invention of coins, a new study from the University of Haifa revealed.

The research, published in the Journal of World Prehistory, found that for 1,500 years, silver was a key part of an established economic system that gradually evolved over time.

Dr. Tzilla Eshel, the lead researcher from the University of Haifa's School of Archaeology and Maritime Cultures, stated that the continuous use of silver in transactions, for both institutions and private individuals, points to a sophisticated economic system that even included standards and forgeries long before the first coins appeared in the 7th century BCE.

For years, researchers had discovered dozens of silver hoards in Israel from the Bronze and Iron Ages, but they were often thought to be raw metal, jeweler's scraps, or foundation deposits. Dr. Eshel's interdisciplinary study re-evaluated this assumption by systematically analyzing these hoards, examining their contents—including broken jewelry and cut pieces—and conducting chemical analyses on 230 items from 19 hoards.

Form of payment began early as 17th centery BCE

The study's findings show that the systematic use of silver as a form of payment began in the Land of Israel as early as the 17th century BCE, which is earlier than in neighboring regions like Egypt and Greece. During the Late Bronze Age, there was a temporary shift to gold, but silver returned as the primary medium of exchange around the 13th century BCE. The subsequent centuries saw a significant increase in the number and geographical spread of silver hoards, indicating the establishment of a market economy.

The hoards also reveal a shift in their use. While earlier hoards were mainly found in public buildings, Iron Age hoards began to appear in private homes, suggesting that silver had penetrated into daily civilian use. The presence of broken and cut silver items in these hoards further supports the idea that they were valued by weight, not as finished jewelry.

Chemical analysis of the silver showed that while it was relatively pure in earlier periods, from the 12th to the 10th century BCE, alloys were deliberately mixed with metals like copper and arsenic. This may be evidence of attempts to lower the value of the silver, conceal a decrease in its purity, or even intentional forgery. "The continuous use of silver points to an advanced economy that gradually developed from within society itself," concluded Dr. Eshel.