Phoenician coinage was influenced by Greek currency, featuring the current king or a favored deity on the front and a national symbol on the back. The coin from Carthage features the god Melqart on one side and a war elephant on the other, symbolizing their favored deity and a common element of the North African region. Sidon, Byblos, and Arwad also chose to portray a galley on their money.
Gold was not utilized in the development of the coins due to the Phoenicians facing challenges during Persian domination. The gold Persian shekel was the default coin, and the scarce metal was used for minting them. The Phoenicians initially produced silver coins and later introduced bronze coins for smaller amounts accessible to the general population. Phoenician currency required several years to become widely used, like any other kind of money.
The Phoenician traders, as merchants, stayed well-informed about the complexities of the commercial sphere. They traded agricultural items from the hinterlands and also worked as moneylenders, requiring them to navigate a distinctive social position. Merchants were required to operate under the authority of the local king or nobility and participate in a system of gift-giving, exchange, and regular trade. The system was complex to comprehend and required merchants to take on a diplomatic approach in their economic dealings.
By the 14th century BCE, diplomacy and commerce became interconnected as traders became involved in public administration and were authorized by the state to manage commercial activities and act as envoys for the king. [15] In ancient times, members of the royal family were responsible for all trading activities in the region. By the 8th century BCE, merchants established a separate mercantile caste, enabling private families and individuals to accumulate money independently.
The merchants held a social standing and dignity that distinguished them from ordinary nobility and common people. A Phoenician trader was a skilled expert who was highly educated and frequently integrated into the extended royal family through marriage and involvement in politics. They were highly sought after for their skills in reading, writing, and performing mathematics to manage their extensive networks. Historians observe that around the seventh and sixth century BCE, moneylending flourished, leading merchants to establish their own networks resembling medieval guilds of specialists and craftsmen.
The royal dynasty began trading to increase their personal fortune rather than to benefit the city-state. A symbiotic relationship between public and private interests resulted in a robust economy.
The agricultural and commercial sectors of the Phoenician economy heavily relied on the Mediterranean Sea for their success. The Phoenicians had the potential to exert significant influence from their coastal location if they could transport their commodities across the sea. To accomplish this, they required top-of-the-line ships capable of transporting goods while also withstanding and overcoming pirates. A merchant navy was required.
Sailing in the Merchant Navy
The Phoenicians are primarily recognized in contemporary society for their powerful naval forces. Ship construction was mostly carried out in Byblos, and the finished ships might be transported to different places using maritime routes. Trade was conducted on galleys, with fifty pairs of strong sailors rowing when the weather conditions were unpredictable. The front bow was utilized for ramming pirates and triremes when necessary, while sailors would shoot arrows at approaching ships.
Modern historians and archaeologists have utilized shipwrecks to rebuild the designs of Phoenician vessels and identify the typical cargo, due to the scarcity of preserved records from the Phoenicians who wrote on papyrus. The Phoenicians were renowned for their commodities and were able to evade most military invasions, however they were frequently vulnerable to piracy. Several individuals were intrigued by their gold and silver bars, olive oil, wine, purple dyes, and cedar lumber.
Archaeologists have identified three distinct types of ships. Each boat had a small keel to navigate the ports and harbors of the city-states. The warships were biremes equipped with two lengthy rows of oars. The front of the ship included a ram that was accessible from the spacious deck. The second type of ship was a bireme with a wide hull designed for carrying cargo. The deck’s edges were elevated and reinforced to allow for storage of cargo on top. Trading ships typically traveled in convoys of 20 to 50 vessels, protected by warships.