While second nature today, the original use for the earliest coinage is still unknown. It is unlikely that the first person to put an image on a small piece of metal realized that they would change the world forever, starting a substantial departure from millennia-old customs of trade. During the excavation of the famous Temple of Artemis in Ephesus (present day Turkey near the Black Sea), a group of coins was found which are thought to comprise its “foundation deposit”, believed to prevent the building from falling into ruin. The largest type in the group, a stater, had an inscription stating “I am the badge of Phanes”. As the earliest coinage was believed to be made by private citizens outside of government control, it is speculated that Phanes was a wealthy merchant, guaranteeing the coin value with his name, although his true identity is unknown. Trites of the same type also bear the name of Phanes but the smaller denominations are without any inscription. They are instead identified stylistically due to the same spotted stag, shown grazing on the stater and with a turned head on the fractional coins. The stag allows this coin to be attributed to Ephesus as Artemis, the patron goddess of the city, chose the stag as her sacred animal. Whether they were originally intended to be used to appease the gods, pay mercenaries, or to fund city projects, coins revolutionized commerce. As our modern world becomes increasingly digital, the concepts pioneered by the first coins still make up the backbone of trade, offering an accessible, neutral medium through which transactions can be processed quickly and fairly. IONIA, Ephesos. Electrum 1/24th stater. ca.625-600BC, 6mm, 0.6g. Forepart of a stag advancing right with head facing left. 3 ovals on chest. / Incuse punch with raised lines within. BMC Ionia -; Rosen -; Traité -; Weidauer -. Very rare unpublished variety with three ovals on the stag. Nearly extremely fine.
Great history and wonderful coin! It's mighty tempting to copy your purchases to save work with the research
An important coin, to be sure. Six millimeters is pretty damn small - I hold to the theory that ancient engravers were as near-sighted as I am. How else could you manage to engrave a stag in such a small space? I wonder if the ovals were guide holes, or if they had some symbolic significance.
Fantastic addition, AJ => another coin bullseye (congrats!!) I have a wee example from Ionia, Ephesos as well ... it's not quite as old as your sweet example, but it's pretty old and pretty tiny (enjoy) IONIA, Ephesos, AR Tetartemorion Circa 500-420 BC Diameter: 5 x 8 mm Weight: 0.17 grams Obverse: Bee Reverse: Head of eagle right within incuse square
another great coin, thanks for sharing AJ. the engravers must have been realtaivly young as well! it would be easier for me to do a chin up probably than to work at the short range to the eye that sort of thing would required. not that i'm going to try a chin up or anything.
Dang AJ you have been busy lately. I guess you are finally working through all the coins you have been teasing for the last little while.
Thanks everyone! At my current rate of one post/writeup per week, it'll be several months before I'm finished with my new purchases... it's been a busy summer
