Hanukkah, the Jewish festival of lights, is right around the corner and families are getting ready to light menorahs, eat latkes, and play dreidel. For those who don’t know, a dreidel is a spinning top with hebrew letters on each of its four sides that represent the phrase “nes gadol haya sham,” or “a great miracle happened there.” Each player has a pile of chocolate coins wrapped in gold and silver foil; these coins are called gelt, which is yiddish for money. Depending on which letter the dreidel falls, players collect more gelt or turn in their stash.
Because Hanukkah falls so close to Christmas, many families have adopted some Christian traditions, such as gift giving. But historically, gelt was given rather than presents to celebrate Hanukkah. Gelt-giving has changed over the years, but the tradition began way back in the Hasmonean dynasty, around 140 BCE when Simon the Maccabee brought independence to Judea 22 years after the Temple was recaptured.
Soon after winning freedom, the Jewish people were granted the ability to mint their own coins. Many of these early Jewish coins depicted a cornucopia to symbolize prosperity or a menorah to represent the Temple. After the destruction of the Second Temple in 70 CE, Jewish coins ceased production until modern times.
The tradition of giving gelt for Hanukkah emerged in Europe in the Middle Ages. Gelt represented somewhat of a tip and was given to teachers and others who served the community. This act eventually grew into giving gelt to children as a reward for studying the Torah and Jewish culture.
In 1958—a decade after the state of Israel was created—the Bank of Israel began striking commemorative coins to use as Hanukkah gelt. These coins contained the same menorah that appeared on the Maccabean coins nearly 2,000 years earlier. Each year since then, the Hanukkah gelt coin is designed to honor a different Jewish community around the world.
The modern celebration of Hanukkah is often filled with chocolate gelt, and you rarely see real gelt coins given. However, the tradition of giving money to children still remains during Passover, which occurs in the spring. One lucky child who finds a hidden piece of matzah—referred to as the afikomen—customarily wins a coin or a few dollars as a prize.
For those interested in Jewish culture and coinage, you might enjoy the Tel Megiddo Silver Coin produced by the Holy Land Mint. The coins released from this mint feature a variety of Israeli sites and depictions of stories from the Torah.
Chocolate gelt is notorious for not tasting particularly good. There’s far better chocolate out there. But regardless, most agree that the treat is a Hanukkah staple and they eat it anyway. Whether you celebrate Hanukkah or another holiday during this time of year, what is your family’s favorite tradition?
I’m a Jewish stacker (an Australian one no less!) and although I personally don’t believe that global financial meltdown is imminent or even likely, I have over the years witnessed for myself how precious metals have consistently maintained their purchasing power relative to dollars and most years well exceeded it.
With this in mind, the best way to maintain and grow intergenerational wealth for my own family is of course precious metals.
Using cultural and religious heritage as a foundation for creating new family traditions that reinforce my own vision for ensuring my children, their children and so on never need to go without was one of the best ways I found to incorporate and normalize the giving and receiving of Precious Metals within our family.
It’s a concept I encourage anyone of any religion or heritage to foster amongst their own families.
What a wonderful family tradition! Thank you for sharing!