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Archaeologists find tens of thousands of ancient bronze fragments with a similar mass. Economists hypothesize that these fragments served as money in Bronze Age Europe. Research, published in the journal Nature Human Behaviour, analyzes over 20 metal artifacts from Italy, Germany, Switzerland, the Czech Republic and France. Most of the artifacts were found to weigh approximately 400-450 grams, or about 10 grams, corresponding to the Middle Eastern mini and shekel, respectively.
Before 1500 BC, the mass of bronze objects was less orderly, while after this period it became more standardized. The lognormal mass distribution of fragments found after 1500 BC suggests their use as a medium of exchange.
The hypothesis that the bronze fragments were money has significant implications for understanding the economy of Bronze Age Europe. The territories of modern Italy, Germany, and Switzerland, without large cities or fortresses, may have had more developed market economies than previously thought.
However, there is an alternative explanation for the lognormal fragment mass distribution. Standardized weights for scales needed for barter trade and tribute payments could have been made from metal fragments. These weights were also used to accurately measure the proportions of tin to copper in bronze production. Thus, the activity of bronze smelting correlated with the economic activity of the region.
The Bronze Age money circulation hypothesis is interesting, but may be redundant given the role of standardized weights in barter trade and bronze production.
