Ring money of Celtic period is often referred as proto-currency. They were circulated before the initiation of the cast and struck coinage in ancient Europe. These rings were produced in gold and copper metals.
This ring money was the currency of Celtic tribe which they used to wear on clothes or tied together in the rope. These rings are found throughout Ireland, England, Scotland and Wales. It was a popular mode of a transaction during the Bronze Age.
The different types of ring money were plain rings, thick or thin ring, torques rings etc. The above-shown image depicts a plain gold ring with smooth edges around of 1.8 grams and 12.5 diameters. The other ring money is made of bronze found in Danube river and was circulated around 5th century BC. The bronze ring made of silver and gold was used by the Celts in trade from Ireland to the Danube region.
Some archaeologist and historian date the Celtic coinage around 800 to 500 BC, it may have circulated till 100 BC. The first ring was created in ancient Moesia (Bulgaria) in 7th Century BC of 10 mm to 40 mm in size.
The weight of this ring money varied, yet a standard weight unit was followed. The weight system followed by this rings indicate its role as proto-money. After the introduction of the different types of currency bar in the 2nd century BC, the use of the ring money died out.
To know more about British coinage click here.