Exhibit on inflation and purchasing power in ancient times opens in Bodrum

MUĞLA

An exhibition titled “Inflation and Purchasing Power in Antiquity” has opened at Bodrum Castle with a ceremony as part of the Culture and Tourism Ministry’s project “102 Temporary Exhibitions in the 102nd Year of the Republic: A Journey Through Anatolia’s Cultural Heritage.”

The project has so far reached people in 30 provinces and 95 locations in Türkiye, while Bodrum is now hosting the 96th edition at the Bodrum Castle Museum of Underwater Archaeology.

The opening ceremony was attended by Bodrum District Governor Ali Sırmalı, Mayor Tamer Mandalinci and Muğla Provincial Director of Culture and Tourism Hüseyin Toprak.

Before the invention of coins in the ancient world, valuable metals circulated as weighed ingots, bars and lumps, with the need for weighing in every transaction and the lack of standardization limiting efficiency. In the 7th century B.C., the Kingdom of Lydia began minting the first coins made from electrum, a natural alloy of gold and silver.

Coins in antiquity were not only a medium of exchange but also reflected the ideological, artistic and cultural identity of states. The drachma, one of the most widely used silver coin systems in the ancient world, became a common international currency accepted in many Mediterranean port cities beyond Athens. Ancient sources provide insights into its purchasing power; historian Thucydides, for instance, noted that each sailor in the Athenian fleet received one drachma per day.

The exhibition features 111 coins, visual materials and graphics illustrating changes in purchasing power through the centuries, showing how many drachmas were needed to buy various goods.

“We are showcasing the currencies used in antiquity and supporting them with graphics that illustrate purchasing power in ancient times,” said Hande Savaş, director of the Bodrum Museum of Underwater Archaeology.

Bodrum District Governor Ali Sırmalı expressed his happiness to inaugurate the event on Republic Day. “We commemorate with gratitude and respect our great leader Mustafa Kemal Atatürk, his comrades-in-arms, martyrs and veterans who gifted us our Republic,” he said. “We pledge to preserve and uphold the values of the Republic forever. I thank everyone who contributed to this exhibition.”