The obol was a small coin used in ancient Greece and, later, in ancient Rome as part of the broader system of coinage. The word “obol” itself comes from the Greek term “obelos”, meaning a spit or a bar, which reflects the original shape of the coin. The obol was initially made from silver and became an essential unit in the Greek monetary system, though its exact value fluctuated depending on the time and place.

In the Greek world, the obol was the smallest unit of currency in daily transactions, worth one-sixth of a drachm, the larger, more commonly used coin. In practice, it was often used for smaller purchases or as a unit for measuring wealth in conjunction with other coins. Its relatively low value made it ideal for smaller transactions, such as buying simple goods or paying for services. In everyday life, an individual might need several obols to make up the price of more substantial items or for larger payments.

The obol also had significant symbolic and religious value. One of its most famous uses was in connection with funerary practices, particularly in the custom of paying the ferryman Charon for passage across the River Styx, which was believed to lead the souls of the dead to the afterlife. The obol was placed in the mouths of the deceased as payment for this journey, ensuring that they could reach the afterlife.