Croesus gold coin

King Croesus renowned wealth became synonymous with his own name. The saying "rich as Croesus" originated in reference to his absurd affluence. Subsequently, Croesus reign became associated with the invention of coins as currency. Before Croesus became King, his father Alyattes had already started to mint various types of non-standardized coins. However, Croesus took it one step further. By developing an innovative refining process and standardizing the specific sizes as well as the purity for general circulation, King Croesus advanced both silver and gold.

In other words, Croesus created intrinsic value deriving from a certain quantity of gold or