Ionian obol facts for kids
The obol was a type of money used in a special island group called the United States of the Ionian Islands. These islands are located in the Ionian Sea, off the coast of Greece. The obol was used there from 1819 until 1863.
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What Was the Obol?
The word obol comes from the Greek word obolos. It was the main coin used in the Ionian Islands when they were under British protection. Before the obol, people used different coins. These included Turkish paras and copper gazete coins. The British government introduced the obol to create a more organized money system.
How Was the Obol Valued?
The value of the obol changed slightly over time.
- From 1819 to 1834, one obol was worth 4 lepta. A lepton was a smaller unit of money.
- After 1834, one obol became worth 5 lepta.
Throughout its entire history, the obol was always equal to a British half penny. This means it had a steady value compared to British money.
When Did the Obol Stop Being Used?
The obol was used for about 44 years. In 1863, the Ionian Islands became part of Greece. When this happened, the obol was replaced by the Greek drachma. The exchange rate was 1 drachma for every 20 oboli. This change helped the islands fit into Greece's money system.
Unusual Obol Coins
Most coins are made in common amounts. However, there was an unusual silver coin worth 30 Lepta. This was a unique coin within the obol currency system.
