Keel laying is one of the four specially celebrated events in a ship's life; the others are launching, commissioning, and decommissioning.
Modern ships are most commonly built in a series of pre-fabricated, complete hull sections rather than around a single keel.
The event recognized as the keel laying is the first joining of modular components, or the lowering of the first module into place in the building dock.
It is now often called "keel authentication" and is the ceremonial beginning of the ship's life, although some modules may have been started months before that stage of construction.
[4][5] The tradition of the placement of coins derives from the mast stepping custom of placing coins under the mast and is believed to date back to Ancient Greece or Ancient Rome and were intended to "pay the ferryman" to convey the souls of the dead across the River Styx should the ship sink.