HISTORY of COINS in AZERBAIJANBack to Main

The “Silver Crisis”
(11th Century-13th Century C.E.)

The feudal Azerbaijani states, especially the Great Atabeg State of Azerbaijan (Atabakan-e Abarbayjan), and the trade they encouraged created an economic boom, and a period of prosperity known as the Oriental Renaissance. With a sudden increase in silver coins being minted in the 11th century C.E., there developed a shortage of silver. This forced the states to print only in copper. Silver would not be reintroduced to the market until the 13th century C.E.

Copper Coin

Image of Copper coin, 1136-1175
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COINS and CURRENCY of AZERBAIJAN

Azerbaijan’s historic coinage reflects the nation's complex political history, from ancient times to the modern day. At the historic crossroads between Europe, Asia, and the Middle East, the design and format of Azerbaijani coins and currency have been greatly influenced by frequent invasions and political upheaval in the region. Hellenic, Roman, Parthian, Persian, Arabic, Turkic, and Russian influences can be seen throughout nearly 3,000 years of coinage. Today, Azerbaijan’s coinage reflects the diverse history and culture of the country.