how much was a drachma worth in ancient greece

In time, silver coins of one drachma and its multiples were debased, and progressively higher proportions of copper were admixed. In 1986, aluminium-bronze 50 coins were introduced, followed by copper 1 and 2 pieces in 1988 and aluminium-bronze coins of 20 and 100 in 1990. I suspect that the poor remained poor and never retired, the middle class remained there until death, infrequently retiring, and the rich probably had more to fear of displeasing the politicians (if they werent politicians themselves, as they would probably not be in a money-losing deal for very long. The income at the time for a skilled worker was 1 drachma a day wiki. There were many states minted fractions of drachmas, like in Ptolemaic Egypt, which minted large coins in gold, silver, and bronze. A modern person might think of one drachma as the rough equivalent of a skilled workers daily pay in the place where they live, which could be as low as US$1, or as high as $100, depending on the country. drachma, silver coin of ancient Greece, dating from about the mid-6th century bc, and the former monetary unit of modern Greece. The first silver obols were minted in Aegina, most likely sometime after 600 BCE. At the risk of oversimplification, we can think of a small copper as the price of a loaf of bread, a pure silver coins as a workers daily wage, and a gold coin as the price of a good horse[12]. drachma, silver coin of ancient Greece, dating from about the mid-6th century bc, and the former monetary unit of modern Greece. This mistake leads to his downfall, and he is forced to kill Antony in order to get the power back. Notes were issued by the National Bank of Greece from 1841 until 1928. Topical Bible: Drachma . Professor Holt repeatedly uses a ratio of 10:1 in his book. This mistake was crucial for the survival of the empire, and it also leads to the end of Brutus life. [13], Minae and talents were never actually minted: they represented weight measures used for commodities (e.g. drachma ( plural drachmas or drachmae or drachmai ) The currency of Greece in ancient times and again from 1832 until 2001, with the symbol , since replaced by the euro . The economy was a mess. 1 GRD = 0.00311831 USD. (This particular unit was paid in drachmas which was comparable to the denarii) Multiply that by three and he would have earned 641 drachmas in pay for a year.Remember that the pay of the Roman. CoinWeek Ancient Coins Series by Mike Markowitz .. Now consider a modern soldiers pay. On 11 November 1944, following the liberation of Greece from Nazi Germany, old drachma were exchanged for new ones at the rate of 50,000,000,000 to 1. Historic Currencies - Ancient Greek Drachma | Trader 2 Trader However, some historians have estimated that in the 5th century BC a drachma had a rough value of 25 U.S. dollars (in the year 1990 - equivalent to 40 USD in 2006). However, some historians have estimated that in the 5th century BC a drachma had a rough value of 25 U.S. dollars (in the year 1990 - equivalent to 40 USD in 2006). Value of a silver drachma in Ancient Greece? : r/history In the ancient world, most workers were farmers and they struggled to feed themselves and a few others. Gold coin = 20 drachma = 5.8 gram gold blended or 5.32 g pure gold at 22/24 carats. The drachma (Greek: Modern: , Ancient: [drakm]; pl. When Greece finally achieved its independence from the Ottoman Empire in 1828, the phoenix was introduced as the monetary unit; its use was short-lived, however, and in 1832 the phoenix was replaced by the drachma, adorned with the image of King Otto, who reigned as modern Greeces first king from 1832 to 1862. It is difficult to estimate comparative exchange rates with modern currency because the range of products produced by economies of centuries gone by were different from today, which makes purchasing power parity (PPP) calculations very difficult; however, some historians and economists have estimated that in the 5th century BC a drachma had a rough value of 25 U.S. dollars (in the year 1990 equivalent to US$46.50 in 2015[8]), whereas classical historians regularly say that in the heyday of ancient Greece (the fifth and fourth centuries) the daily wage for a skilled worker or a hoplite[9] was one drachma, and for a heliast (juror) half a drachma since 425BC.[10]. Drachma | Definition, History, & Facts | Britannica Not minted but remained legal tender (not in actual use in 2002). At a wage of $20 USD/hr that is approximately $12,000 USD. Didrachm: were worth 2 drachmae, weighing 8.6 grams. The Greek Drachma is the currency in Greece (GR, GRC). The drachma not only testifies to the Greeks sense of aesthetics and craftsmanship, but also to Greeces commercial power. Its name derives from the Greek verb meaning "to grasp," and its original value was equivalent to that of a handful of arrows. In Ancient Greece, 'drachma' was the name of a standard weight and silver coin. Your Guide to Ancient Greek Coins - preciousmetalinfo.com 1 Greek drachma = 0.0033616 US dollar. In ancient Athens, a skilled worker or hoplite could earn one drachma a day. Historically, the drachma was the currency of many Greek city states. Entdecke GRIECHENLAND 1 DRACHME 1911 SILBER B46 #K3481 in groer Auswahl Vergleichen Angebote und Preise Online kaufen bei eBay Kostenlose Lieferung fr viele Artikel! Greek Drachma banknotes - Exchange yours now - Leftover Currency For the moth genus, see, Above: Six rod-shaped obeloi (oboloi) displayed at the. Your email address will not be published. Coins of the New Testament that Jesus and the apostles used - Bible In our global economy, where almost everything is instantly convertible into cash, we can state precise exchange rates: one US dollar is worth 0.86 euro or 0.97 Swiss francs, or 0.78 British pounds[2]. Drachmas are part of the coinage that gave birth to all modern currencies and the original coin stemmed from the monetary system of Ancient Greece that was developed from 800BC. Ancient Greek Drachma The Greek drachma was originally defined as 1/6000th of a talent of silver (a talent was a unit of weight equal to about 56 pounds). Greek Drachmae are now obsolete. I dont believe we significantly value or pay soldiers or workers today more than they did 2000 years ago. It's a site that collects all the most frequently asked questions and answers, so you don't have to spend hours on searching anywhere else. 10 coins of a brighter alloy were issued in 1959 and a silver 20 piece was issued in 1960, replacing the corresponding banknotes. Computed as an annual salary, this represents about 1,540 grams of silver or, converted into gold at the typical ancient 15:1 rate, 103 g of gold (about three-and-a-third troy ounces). Greek drachma - Wikipedia Drachmae were used by the Greeks and Romans during the time of ancient Rome. drachmae or drachmas) was the currency used in Greece during several periods in its history: The name drachma is derived from the verb (drssomai, "(I) grasp"). At this time, a drachma was worth almost 10.5 choenix of wheat. The drachma was one of the world's earliest coins. The early drachma had different weights in different regions. In an era of relatively static technology, military equipment was often passed down from father to son. In 2000, a set of 6 themed 500 coins were issued to commemorate the 2004 Athens Olympic Games. The first Greek coins appeared in Aegina c. 600 BCE (or even earlier) which were silver and used a turtle as a symbol of the city's prosperity based on maritime trade. Its fun and healthy to exercise ones mind. However, some historians and economists have estimated that in the 5th century BCE a drachma had a rough value of 25 USD in the year 1990, 38 USD in 2006 & 40.68 USD in 2008. The Greek Drachma was also an ancient currency used in many Greek city-states. 1000 GRD to GBP | Convert Drachmas to Pounds | Drachma to Pound You get: 0.00 900. The Drachmi Greek Democratic Movement Five Stars, which was founded in 2013,[25] aims to restore the Drachma as Greece's currency. I also wonder what were the highest paying vocational occupations. If you were known to make a really strong shield, or other superior weaponry, it seems like you could make the equivalent to todays plumbers, or maybe doctors. International Standard Bible Encyclopedia DRACHMA; DRAM I will assume that is 22 carat because I've read pure gold is too malleable to use in coins. This was to establish his power and show the power of the empire to the world, a form of propaganda of the royal ideology. The drachma was Greeces national currency from 1833 to 1 January 2002, when euro banknotes and coins were put into circulation in Greece, at the same time as in the other euro area countries. How Much is 75 Drachmas Worth in Ancient Greece? He orders to strike the obverse of the ancient drachmas with the portrait of Zeus and its own portrait with a horse on the reverse or a young naked rider with the insignia of the victory. How much money did Caesar give to the citizens? In the fourth century BCE, Greek hoplites (armored infantry) typically received a drachma per day (sometimes supplemented by another drachma to pay for a servant while on campaign)[9]. Modern commentators derived from Xenophon[11] that half a drachma per day (360 days per year) would provide "a comfortable subsistence" for "the poor citizens" (for the head of a household in 355BC). In 1868, Greece joined the Latin Monetary Union and the drachma became equal in weight and value to the French franc. Coins in denominations from 50 lepta to 20 carried a portrait of King Paul (19471964). For more information, please see our The Athenian tetradrachm was called owl,[6] the Aeginetic stater was called chelone, the Corinthian stater was called hippos (horse) and so on. Gold closed this week at US$1,200 per Troy ounce[4], so a 7.0-gram ancient Greek gold stater from the time of Alexander the Great (died 323 BCE) represents a bullion value of $270.04. Usually, prices were rounded up to the next multiple of 10 drachmae. It was originally set at 1/6 drachma by Pericles, until, Cf. How much are drachma coins worth? At a wage of $20 USD/hr that is approximately $12,000 USD. A skilled worker in Athens or a hoplite could earn about one drachma a day. Although Drachmas were used as far back as the 9th century, modern Drachma Gold Coins date from the mid-19th century. An Ancient Greek weight of about 66.5 grains, or 4.3 grams. [3][n 4] Initially a drachma was a fistful (a "grasp") of six obolo or obelo (metal sticks, literally "spits") used as a form of currency as early as 1100BC and being a form of "bullion": bronze, copper, or iron ingots denominated by weight. At the time, citizens expected quality entertainment. Keep in mind that when we compare labor equivalent values across the centuries, we are comparing an ancient world where muscle power was a primary energy source, to a modern world largely powered by engines, motors, and data networks. The Roman drachma is based on the ancient Greek drachma. By clicking Accept All, you consent to the use of ALL the cookies. The obolus is therefore a division of the drachma. For more information, see our data protection policy. What is the value of a drachma coin? - TimesMojo 2022 - 2023 Times Mojo - All Rights Reserved The drachma is mentioned in the Bible in the Gospel of Luke . It was the standard unit of silver coinage at most ancient Greek mints, and the name obol was used to describe a coin that was one-sixth of a drachma. I dont think so. It does not store any personal data. 1 Athenian Talent at the higher ratio would have 24.3 kg pure silver or 27.0 kg at face weight. A range of Drachma coins issued by Greece. Ancient drachma: a thousand-year-old currency. [8] Less than two percent of the US population is employed in agriculture. Discover regularly ancient drachmas on our shop. Diocletian decreed the death penalty for sellers and buyers who violated his maximums. drachma, silver coin of ancient Greece, dating from about the mid-6th century bc, and the former monetary unit of modern Greece. Although Drachmas were used as far back as the 9th century, modern Drachma Gold Coins date from the mid-19th century. Privacy Policy. The Bank of Greece issued notes from 1928 until 2001, when Greece joined the Euro. What is the Best Melee Weapon in Minecraft Dungeons? One of the most important mistakes Brutus makes is refusing to kill Marc Antony, even though this could have saved him from other missteps. Ancient economies did not work like modern ones, and ancient writers, almost all slave-owning aristocrats who belonged to privileged elites, rarely wrote about the vulgar topic of money. Pious Jews questioned the morality of such an act. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. One drachma equaled 6 oboli; 100 drachmas equaled 1 mine; and 60 mine equaled 1 Attic talent. Metrologists have come to differing conclusions concerning its exact length, but the currently accepted modern equivalents are 296 mm or 11.65 inches. When Greece finally achieved its independence from the Ottoman Empire in 1828, the phoenix was introduced as the monetary unit; its use was short-lived, however, and in 1832 the phoenix was replaced by the drachma, adorned with the image of King Otto of Greece, who reigned as modern Greece's first king from 1832 to 1862. It is therefore the witness of a part of Greek history and contains a considerable interest for numismatists. [6] On the London Metal Exchange, the price of copper was $6,670 per tonne on 04 OSept 2018. the Finnish 100 markka issued in 1990), in Poland (the 1986 Polish 500 zloty coin), in Belarus (e.g. This seems extremely undervalued to me, can someone whos familiar on the topic confirm this? So, you can use this calculator to calculate the value of eight dollars in Greek drachmas. Guide to Biblical Coins, 5th ed. Wheat sold for 100 d.c. per modius (a measuring bucket that held about eight liters or two gallons, enough to make 20 one-pound loaves of bread) Meat was sold by the Roman pound or libra of 12 ounces (326 grams): pork and lamb for 12 d.c.; beef for 8; high-quality saltwater fish for 25; chicken (a luxury!) This website uses cookies to improve your experience while you navigate through the website. All News, Articles, Commentary and Opinions are contributed by the author(s), with or without compensation, who are solely responsible for the content, and do not represent CoinWeek Management. Between 1926 and 1930, a new coinage was introduced for the new Hellenic Republic, consisting of cupro-nickel coins in denominations of 20, 50, 1, and 2; nickel coins of 5; and silver coins of 10 and 20. Collectors can own their own piece of history with Greek 20 Drachma gold coins.The modern gold coins date back to the 19 th Century, but the tradition and values date back to the time of ancient Greece. The drachma . We have broken up our dollar into 4 pieces4 quarters equal 1 dollar or 4 dollars are just four dollars. Schaps, David. Golden drachmas are large, round coins that are usually made of gold or silver. Just some thoughts. A modern person might think of one drachma as the rough equivalent of a skilled worker's daily pay in the place where they live, which could be as low as US$1, or as high as $100, depending on the country. [3] Ancient garments did not have pockets. Moreover, it is a significant amount for those who are just starting out in their careers. Articles from Britannica Encyclopedias for elementary and high school students. According to Barrons National Business and Financial Weekly, April 24, 1944, the average Private soldier left a job that was typically on the lower economic rung paying $3600 per year to join the armed services. b : the basic monetary unit of Greece from circa 1831 to 2001. Earlier in 422BC, we also see in Aristophanes (Wasps, line 300302) that the daily half-drachma of a juror is just enough for the daily subsistence of a family of three. [9] A hoplite was expected to provide his own armor and weapons, at a cost of 300 to 500 drachmai, but if he survived these would last for many years. Online at Ancient Coins for Education: http://ancientcoinsforeducation.org/content/view/79/98/, Ferguson, Niall. The Greek drachma is an older form of Greek currency. You also have the option to opt-out of these cookies. Smaller denominations (1, 2, 3 and 5) were issued from 1885, with the first 5 notes being made by cutting 10 notes in half. The origin lies in the Greek word 'dragma', meaning 'handful', pointing to a handful of 'obols', equal to one-sixth of a drachma. This will allow you to determine the value of each currency. Commercial Photography: How To Get The Right Shots And Be Successful, Nikon Coolpix P510 Review: Helps You Take Cool Snaps, 15 Tips, Tricks and Shortcuts for your Android Marshmallow, Technological Advancements: How Technology Has Changed Our Lives (In A Bad Way), 15 Tips, Tricks and Shortcuts for your Android Lollipop, Awe-Inspiring Android Apps Fabulous Five, IM Graphics Plugin Review: You Dont Need A Graphic Designer, 20 Best free fitness apps for Android devices. The Arabic unit of currency known as dirham (Arabic: ), known from pre-Islamic times and afterwards, inherited its name from the drachma or didrachm (, 2 drachmae); the dirham is still the name of the official currencies of Morocco and the United Arab Emirates. However, some historians have estimated that in the 5th century BC a drachma had a rough value of 25 U.S. dollars (in the year 1990 - equivalent to 40 USD in 2006). So that would not be minimum wage, but more along the line of a carpenter or mason. Civil taxes to Rome had to be paid in this coin. Dalka, Mike. The Good Samaritan in Jesus parable gave the innkeeper two denarii, or about a hundred pounds. Previous - Greek old coins. The radical increase in standard of living invalidates that comparison. A silver 30 coin for the centennial of Greece's royal dynasty was minted in 1963. Coins dated 1993 are available only in sets, not in circulation. Greek Mythology is the set of stories about the gods, goddesses, heroes and rituals of Ancient Greeks. What Things Cost in Ancient Rome. According to a study undertaken by Bloomberg, drachmas worth an estimated 477.9 million are still safely tucked away all over Greece never to be . Fractions and multiples of the drachma were minted by many states, most notably in Ptolemaic Egypt, which minted large coins in gold, silver and bronze. grain) as well as metals like silver or gold. What Disney Collectibles Are Most Valuable? Property owners were responsible for street maintenance, and aediles were responsible for overseeing it. How much is $100 US in Greece? - Heimduo What is the religion of Greece? Proudly powered by. Reddit and its partners use cookies and similar technologies to provide you with a better experience. The drachma was the Greek monetary unit, during Antiquity, but also before the arrival of the euro from 1831 to 2000. This website uses cookies to improve your experience while you navigate through the website. Brutus also persuades his conspirators to kill Antony. Drachma, silver coin of ancient Greece, dating from about the mid-6th century bc, and the former monetary unit of modern Greece. However, some historians have estimated that in the 5th century BC a drachma had a rough value of 25 U.S. dollars (in the year 1990 - equivalent to 40 USD in 2006). (Very small numbers of 50 and 100 coins in gold were also issued.). Convert 1000 Drachmas to Pounds with real time Forex rates based on up-to-the-second interbank exchange rates. How much is a drachma worth? - Answers The Romans were very proud of their drachmas. Gradually, coins became the main payment methods throughout mainland Greece. But I wonder, since prices for goods and services arent mentioned (except for the Edict on Maximum Prices, which, as you pointed out, is the yesteryear price control scheme), whether the middle class (probably the military) were able to, over time amass their equivalent to 1 million dollars. Save my name, email, and website in this browser for the next time I comment. The cookie is used to store the user consent for the cookies in the category "Analytics". In 44 BC, he was killed by Lucius Cornelius Sulla. The dual circulation period when both the Greek drachma and the euro had legal tender status ended on 28 February 2002. Roman soldiers were paid 225 denarii per year, beginning in the first century BCE and continuing until the reign of the emperor Domitian (ruled 81-96 CE), who raised the rate to 300 denarii. Divide that by 20 gives 0.266 g of pure gold for 1 drachma. The first issues of banknotes were in denominations of 10, 20 and 50, soon followed by 100, 500 and 1,000 by 1956. 47. ancient coins. The four-drachma (or shekel) coin would be exactly enough to pay the temple tax (two-drachma coin) for two people. It is usually thought to be a Tyrian shekel. While he has the best intentions, he fails in many ways. Julius Caesar's will specified a gift of 75 Attic drachma's for every roman citizen. Times of prosperity compared to times of prosperity, or decline compared to decline. Drachma, silver coin of ancient Greece, dating from about the mid-6th century bc, and the former monetary unit of modern Greece. Wikipedia has some information about the Greek drachma which seems plausible. Using a currency calculator, you can estimate how many drachmas are in a single dollar. Greek Coins - See the Most Beautiful and Rare Greek Coins Rare Drachma Coin Sold for Record 162,000 Euros in Auction - GreekReporter A 50-drachma coin minted in 1876 just sold for the record price of 162,000 euros at an auction in Switzerland. Athens and Corinth soon followed Aegina's lead. We use the mid-market rate for our Converter. The New Testament mentions both didrachma and, by implication, tetradrachma in context of the Temple tax. W.V. The first coins were minted in central Greece (Aegina, Athens and Corinth), in the north and on the island of Siphnos. Harris, ed. One drachma was worth around 25 U.S. dollars in the 5th century BC. A "drachma" was in ancient Greece a currency. spelling variant is also attested. But Solon, the leader of Athens at the beginning of the sixth century B.C., ordered the minting of 6,300 one-drachma coins from each talent of silver, an instant profit of 5 percent. 1.00 Greek Drachma = 0.00 31084926 US Dollars 1 USD = 321.699 GRD GRD replaced by EUR We use the mid-market rate for our Converter. We know from many sources that a silver drachma or denarius was a typical days minimum wage for a manual worker. Ancient economies were largely bimetallic. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. The second largest island is Euboea, which is separated from the mainland by the 60m-wide Euripus Strait, and is administered as part of the Central Greece region. Tetrobol: were worth 4 obols, weighing 2.85 grams. The euro banknotes and coins were introduced in Greece on 1 January 2002, after a transitional period of one year when the euro was the official currency but only existed as book money. Tetradrachm: were worth 4 drachmae, weighing 17.2 grams. 20 Drachma Greek Gold Coin (Mixed Years) | CoinInvest Why Do Cross Country Runners Have Skinny Legs? The Greek drachma is divided into 100 lepta and the United States Dollar is divided into 100 cents. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. However, some historians have estimated that in the 5th century BC a drachma had a rough value of 25 U.S. dollars (in the year 1990 - equivalent to 40 USD in 2006). A failed Roman imperial experiment in price controls in the early fourth century CE gives us a remarkably detailed snapshot of what money was worth, at least officially. California (1973), Graser, E.R., A text and translation of the Edict of Diocletian, An Economic Survey of Ancient Rome Volume V: Rome and Italy of the Empire (1st ed.). The 5th century BC Athenian tetradrachm ("four drachmae") coin was perhaps the most widely used coin in the Greek world prior to the time of Alexander the Great (along with the Corinthian stater). What Were They Worth? The Purchasing Power of Ancient Coins - CoinWeek perch l'impero romano d'oriente sopravvisse GRD replaced by EUR. The Greek drachma was the currency of Greece before it was replaced by the . . The smaller coins were made of silver and had a 1:10 relationship with gold weight. Some historians say that half a drachma per day would be a comfortable subsistence for a poor family. Similar information about Pheidon's obeloi was also recorded at the Parian Chronicle. In the Levant, they used gold coins. There are two types: the Longacre and the Saint-Gaudens 20 dollars. The government issued notes of 1, 5, 10 and 20, with the Bank of Greece issuing 50, 100, 500, 1,000, 5,000, and 10,000 notes. The largest Greek island by area is Crete, located at the southern edge of the Aegean Sea. In the Shakespeare play, Julius Caesar, Brutus makes numerous mistakes. The status and characteristics of ancient and modern-day women in Greece evolved from the events that occurred in the history of Greece. In 1954, in an effort to halt inflation, the country joined the Bretton Woods fixed currency system until it was abolished in 1973. 5,000 notes were introduced in 1984, followed by 10,000 notes in 1995 and 200 notes in 1997. [21], Coins in circulation at the time of the adoption of the euro[22] were, Gold 20 coin depicting king Othon I, 1833, Gold 20 coin depicting king Georgios I, 1876, Gold 50 coin depicting king Georgios I, 1876, 1 coin during the 19731974 military controlled Republic, 1973, 1 coin depicting Konstantinos Kanaris, 1976, 2 coin with a soldier standing in front of a Phoenix. Clothing was costly. According to Michael Scott, in his article "The Rise of Women in Ancient Greece" ( History Today ), "place of women" and their achievements in ancient Greece was best described by Thucidydes . Historical US dollar / Greek drachma History of daily rates USD /GRD since Monday, 31 January 2022. Silver coin typically circulated for the payment of wages, and bronze token coinage circulated for the purchase of daily necessities. Previously, the unit of currency was iron cooking-spits. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Price history of USD / GRD. Sculptors and doctors were able to make up to six drachmae daily. A meaningful answer must usually begin: "It's complicated." A more complete answer might include "It depends" In our global economy, where almost everything is instantly convertible into cash, we. The income at the time for a skilled worker was 1 drachma a day wiki. ( n.) A gold and silver coin of modern Greece worth 19.3 cents. How much is a drachma worth in the bible? - Hagnm.hioctanefuel.com These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. GRD /USD. According to another, a coin is a token whose value depends entirely on peoples willingness to accept it in exchange for other items. The following year a non-circulating coin of this value was produced to commemorate the royal wedding. CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. Drachma is the currency that was in use in Ancient Greece for over 10 centuries. Coins in Jesus' Time Your email address will not be published. Home | About | Contact | Copyright | Report Content | Privacy | Cookie Policy | Terms & Conditions | Sitemap. He sees Antony as a limb, and after the death of Caesar, he no longer has any power over his king. Brutus actions are disastrous for Rome, but he also fumbles over his choices. According to one concept, a coin is a piece of precious metal whose value is essentially equivalent to the value of the bullion from which it was made, and the stamp on its face is merely a guarantee that it has (or had when minted) a particular weight and purity.

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