Coins the first form of money
Read Coins the first form of money and check the IELTS Reading answers. Few people pay much attention to coins; we take them for granted. Since the advent of paper currency and the abandonment of a monetary system based on intrinsic of actual value, they have been demoted to the status of change: w…
Passage preview
Few people pay much attention to coins; we take them for granted. Since the advent of paper currency and the abandonment of a monetary system based on intrinsic of actual value, they have been demoted to the status of change: what is left when you have paid for something with 'paper' money. There is even a belief that they will one day be obsolete, as will paper or plastic notes, and money will at last have achieved the pure status of a mathematical formulation, a system of electronic credits and debits.
Vocabulary from this passage
11 words worth learning before you sit the test, each with the sentence it appears in.
- advent noun
The arrival of a notable person, thing, or event that marks a significant change in history
The advent of the internet has fundamentally transformed how people communicate and access information globally.
- alloy noun
A metal made by combining two or more metallic elements, especially to give greater strength or resistance
Ancient mints sometimes produced coins where gold was alloyed with silver to increase the quantity of currency.
- anonymous adjective
Not identified by name; of unknown authorship or origin, often regarding creative or historical works
Although the poem is famous, it was written by an anonymous author during the fourteenth century.
- artisan noun
A skilled worker who makes things by hand, possessing specialized knowledge of traditional crafts or techniques
The exquisite detail on the cathedral’s facade is a testament to the skill of medieval artisans.
- barter noun
A system of exchange where goods or services are directly traded for others without using money
In many ancient societies, local trade was conducted through barter before the introduction of metal currency.
- commodity noun
A raw material or primary agricultural product that can be bought and sold in large quantities
Grain remains a vital global commodity, with its price heavily influenced by international weather patterns.
- inflation noun
A general increase in prices and fall in the purchasing value of money over a period
The sudden influx of silver into the economy caused rapid inflation, making basic goods unaffordable.
- integrity noun
The quality of being honest and having strong moral principles; the state of being whole and undivided
The central bank must maintain its integrity to ensure public confidence in the national currency.
- intrinsic value noun
The actual value of an object based on its inherent properties rather than its market price
Investors often purchase gold because it maintains its intrinsic value even during periods of extreme economic instability.
- obsolete adjective
No longer produced or used because it has been replaced by something newer and more efficient
With the rise of digital streaming, physical media formats like DVDs have become increasingly obsolete.
- scrutinise verb
To examine or inspect something very thoroughly and carefully to discover information or detect errors
Researchers must scrutinise the experimental data to identify any anomalies that could invalidate their findings.
Answers with explanations
- 14. vii
The paragraph discusses the diminished role of coins today and introduces the belief that "**they will one day be obsolete**" due to electronic systems. This perfectly matches the concept of an **uncertain future**, making heading **vii** the correct choice.
- 15. xi
Paragraph 2 emphasizes that ancient coins are "**rich sources of documentary evidence about events and cultural attitudes**" that help archaeologists understand our ancestors. This means they act as **significant records of past societies**, confirming heading **xi**.
- 16. v
The paragraph contrasts the old system of **barter** with the use of coins, highlighting that coins were "**far more portable, and not subject to the same spoilage**". This made trading much easier because people "no longer had to carry goods with them". This is accurately described as a **simpler, more efficient way of trading** (heading **v**).
- 17. iv
The entire paragraph is devoted to explaining how the value of coins was established. It notes that "**coins could be weighed to determine the amount of metal they contained**" and describes Archimedes' method to test gold purity. This perfectly aligns with the heading **Calculating what a coin was worth** (heading **iv**).
- 18. ii
The paragraph explains the secondary function of coins as a symbol of local identity. It states that "**coins, which circulated around the trading world, were a way of advertising the qualities of each particular city-state.**" Advertising a city-state is a clear form of **regional promotion**, confirming heading **ii**.
- 19. ix
Paragraph 6 discusses how the visual design of Athenian coins remained "**repeated virtually unaltered for many years**" (unchanging). It concludes that this "**uniform design implied integrity**" (trustworthiness). This logic directly points to heading **ix**: **Unchanging coins signalled trustworthiness**.
- 20. vi
The paragraph explains that later coins replaced generic divinities with the portrait of the monarch. Because of this practice, "**the features of many great Romans have survived and are known to modern generations**". Seeing the physical features of these leaders matches the idea of **Putting a face to famous historical names** (heading **vi**).
- 21-22: AC
The writer mentions two key facts about early coin making. First, the makers were "**anonymous craftsmen**", meaning there is **no record of their names** (Option A). Second, due to the constant cracking of hand-engraved moulds, there was "**endless variety encountered in coins with the same designs**", meaning they **looked quite different** (Option C).
- 23. civilisation
The summary needs the noun that describes what was **made up of many city-states**. The text directly states: "**Their civilisation, which was composed of dozens of city-states**, was highly decentralised." Thus, **civilisation** is the correct answer.
- 24. barter
The summary focuses on how the Greeks traded **before** the invention of coins. The passage states clearly, "**Before coins, trade was based on barter**: the direct trade of commodities." Therefore, **barter** accurately completes the blank.
- 25. silver
The summary notes the Greeks had a plentiful supply of something they **mined themselves**. The text mentions the "**discovery of silver mines on Greek territory**" which allowed them to produce large quantities of money. The correct material is **silver**.
- 26. inflation
The text compares the Greek economy to Spain's later issues, noting that a massive influx of gold in Spain "**resulted in serious inflation**". Because the Greeks did not mine on that massive scale, they avoided this economic **problem**. Therefore, the correct word is **inflation**.