Drachma - Short History

Drachma, an ancient currency, circulating from 1100 BC, in Greece and the Hellenistic world, replaced the prior currency of obol (ovolos).

Drachmas were minted at various mints all over the Greek world and at various weights.

The modern drachma has been reintroduced in 1832, when it replaced the phoenix coin, after the establishment of the Modern Greek state.

The first modern drachma lasted from 1832 to 1944, the second one from 1944 to 1954 and the third one from 1954 till 2002, when it has been replaced by Euro.