Greek  Philip V King of Macedonia: 221-179 B.C.
Bronze 20mm (2.84 grams) Struck circa 221-179 B.C.
Reference: SNGCop 1244
Diademed head of Zeus right.
Β-Α Φ, Athena Alkidemos standing right throwing a spear and holding shield.

Son of Demetrios II, Philip V came to power in 221 B.C. on the death of Antigonos Doson. He was a vigorous ruler and maintained the power of the Macedonian kingdom in the earlier part of his reign. However, he made the mistake of arousing the enmity of the Romans, and in 197 B.C. his power was crushed at the battle of the Kynoskephalai by the Roman general T. Quinctius Flamininus. After this his power and territory were severely curtailed by Rome, and the days of the Macedonian kingdom were numbered.

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In Greek religion and mythology , Athena or Athene, also referred to as Pallas Athena/Athene , is the goddess of wisdom, courage, inspiration, civilization, law and justice, just warfare, mathematics, strength, strategy, the arts, crafts, and skill. Minerva is the Roman goddess identified with Athena.

Marble Greek copy signed "Antiokhos", a first century BC variant of
Phidias ' fifth-century Athena Promachos that stood on the Acropolis

Athena is also a shrewd companion of heroes and is the goddess of heroic endeavour. She is the virgin patroness of Athens . The Athenians founded the Parthenon on the Acropolis of her namesake city, Athens (Athena Parthenos), in her honour.

Athena's veneration as the patron of Athens seems to have existed from the earliest times, and was so persistent that archaic myths about her were recast to adapt to cultural changes. In her role as a protector of the city (polis), many people throughout the Greek world worshiped Athena as Athena Polias (Ἀθηνᾶ Πολιάς "Athena of the city"). The city of Athens and the goddess Athena essentially bear the same name, "Athenai" meaning "[many] Athenas".

Patroness

Athenian tetradrachm representing the goddess Athena

Athena as the goddess of philosophy became an aspect of the cult in Classical Greece during the late 5th century B.C. She is the patroness of various crafts, especially of weaving , as Athena Ergane, and was honored as such at festivals such as Chalceia . The metalwork of weapons also fell under her patronage. She led battles (Athena Promachos or the warrior maiden Athena Parthenos) as the disciplined, strategic side of war, in contrast to her brother Ares, the patron of violence, bloodlust and slaughter—"the raw force of war". Athena's wisdom includes the cunning intelligence (metis) of such figures as Odysseus . Not only was this version of Athena the opposite of Ares in combat, it was also the polar opposite of the serene earth goddess version of the deity, Athena Polias.

Athena appears in Greek mythology as the patron and helper of many heroes, including Odysseus , Jason , and Heracles . In Classical Greek myths, she never consorts with a lover, nor does she ever marry,earning the title Athena Parthenos. A remnant of archaic myth depicts her as the adoptive mother of Erechtheus /Erichthonius through the foiled rape by Hephaestus . Other variants relate that Erichthonius, the serpent that accompanied Athena, was born to Gaia : when the rape failed, the semen landed on Gaia and impregnated her. After Erechthonius was born, Gaia gave him to Athena.

Though Athena is a goddess of war strategy, she disliked fighting without purpose and preferred to use wisdom to settle predicaments.The goddess only encouraged fighting for a reasonable cause or to resolve conflict. As patron of Athens she fought in the Trojan war on the side of the Achaeans.

Lady of Athens

Athena competed with Poseidon to be the patron deity of Athens, which was yet unnamed, in a version of one founding myth . They agreed that each would give the Athenians one gift and that the Athenians would choose the gift they preferred. Poseidon struck the ground with his trident and a salt water spring sprang up; this gave them a means of trade and water—Athens at its height was a significant sea power, defeating the Persian fleet at the Battle of Salamis —but the water was salty and not very good for drinking.

Athena, however, offered them the first domesticated olive tree . The Athenians (or their king, Cecrops ) accepted the olive tree and with it the patronage of Athena, for the olive tree brought wood, oil, and food. Robert Graves was of the opinion that "Poseidon's attempts to take possession of certain cities are political myths" which reflect the conflict between matriarchal and patriarchal religions.

Judgment of Paris

Aphrodite is being surveyed by Paris, while Athena (the leftmost figure) and Hera stand nearby. El Juicio de Paris by Enrique Simonet , ca. 1904

All the gods and goddesses as well as various mortals were invited to the marriage of Peleus and Thetis (the eventual parents of Achilles ). Only Eris , goddess of discord, was not invited. She was annoyed at this, so she arrived with a golden apple inscribed with the word καλλίστῃ (kallistēi, "for the fairest"), which she threw among the goddesses. Aphrodite, Hera, and Athena all claimed to be the fairest, and thus the rightful owner of the apple.

The goddesses chose to place the matter before Zeus, who, not wanting to favor one of the goddesses, put the choice into the hands of Paris, a Trojan prince. After bathing in the spring of Mount Ida (where Troy was situated), the goddesses appeared before Paris. The goddesses undressed and presented themselves to Paris naked, either at his request or for the sake of winning.

Paris is awarding the apple to Aphrodite, while Athena makes a face. Urteil des Paris by Anton Raphael Mengs , ca. 1757

Still, Paris could not decide, as all three were ideally beautiful, so they resorted to bribes. Hera tried to bribe Paris with control over all Asia and Europe , while Athena offered wisdom, fame and glory in battle, but Aphrodite came forth and whispered to Paris that if he were to choose her as the fairest he would have the most beautiful mortal woman in the world as a wife, and he accordingly chose her. This woman was Helen , who was, unfortunately for Paris, already married to King Menelaus of Sparta . The other two goddesses were enraged by this and through Helen's abduction by Paris they brought about the Trojan War .

Other epithets were Ageleia and Itonia .

The Parthenon , Temple of Athena Parthenos

Athena was given many other cult titles. She has the epithet Athena Ergane as the patron of craftsmen and artisans. With the epithet Athena Parthenos ("virgin") she was especially worshipped in the festivals of the Panathenaea and Pamboeotia where both militaristic and athletic displays took place.With the epithet Athena Promachos she led in battle (see Promachos ). With the epithet Athena Polias ("of the city"), Athena was the protector of not only Athens but also of many other cities, including Argos , Sparta , Gortyn , Lindos , and Larisa .

Masculinity and feminism

Athena had an "androgynous compromise" that allowed her traits and what she stood for to be attributed to male and female rulers alike over the course of history (such as Marie de' Medici, Anne of Austria, Christina of Sweden, and Catherine the Great)

J.J. Bachofen advocated that Athena was originally a maternal figure stable in her security and poise but was caught up and perverted by a patriarchal society; this was especially the case in Athens. The goddess adapted but could very easily be seen as a god. He viewed it as "motherless paternity in the place of fatherless maternity" where once altered, Athena's character was to be crystallized as that of a patriarch.

Whereas Bachofen saw the switch to paternity on Athena's behalf as an increase of power, Freud on the contrary perceived Athena as an "original mother goddess divested of her power". In this interpretation, Athena was demoted to be only Zeus's daughter, never allowed the expression of motherhood. Still more different from Bachofen's perspective is the lack of role permanency in Freud's view: Freud held that time and differing cultures would mold Athena to stand for what was necessary to them.

In the ancient Greek religion , Zeus zews zooss ; Ancient Greek : Ζεύς; Modern Greek : Δίας, Dias) was the "Father of Gods and men" (πατὴρ ἀνδρῶν τε θεῶν τε) who ruled the Olympians of Mount Olympus as a father ruled the family. He was the god of sky and thunder in Greek mythology . His Roman counterpart is Jupiter and Etruscan counterpart is Tinia .

Zeus was the child of Cronus and Rhea , and the youngest of his siblings. In most traditions he was married to Hera, although, at the oracle of Dodona , his consort was Dione : according to the Iliad , he is the father of Aphrodite by Dione.^[2] He is known for his erotic escapades. These resulted in many godly and heroic offspring, including Athena , Apollo and Artemis , Hermes , Persephone (by Demeter ), Dionysus , Perseus , Heracles , Helen of Troy , Minos , and the Muses (by Mnemosyne ); by Hera, he is usually said to have fathered Ares , Hebe and Hephaestus .^[5]

As Walter Burkert points out in his book, Greek Religion, "Even the gods who are not his natural children address him as Father, and all the gods rise in his presence."^[6] For the Greeks, he was the King of the Gods , who oversaw the universe. As Pausanias observed, "That Zeus is king in heaven is a saying common to all men".^[7] In Hesiod's Theogony Zeus assigns the various gods their roles. In the Homeric Hymns he is referred to as the chieftain of the gods.

His symbols are the thunderbolt , eagle , bull , and oak. In addition to his Indo-European inheritance, the classical "cloud-gatherer" also derives certain iconographic traits from the cultures of the Ancient Near East , such as the scepter . Zeus is frequently depicted by Greek artists in one of two poses: standing, striding forward, with a thunderbolt leveled in his raised right hand, or seated in majesty.

The Chariot of Zeus, from an 1879 Stories from the Greek Tragedians by Alfred Church

Philip V  (238 BC - 179 BC) was King of Macedon from 221 BC to 179 BC. Philip's reign was principally marked by an unsuccessful struggle with the emerging power of Rome . Philip was attractive and charismatic as a young man. A dashing and courageous warrior, he was inevitably compared to Alexander the Great and was nicknamed the darling of Hellas.

 Early life

The son of Demetrius II and Chryseis, Philip was nine years old at his father's death in 229 BC. He had an elder paternal half sister called Apame . ^[3] His cousin, Antigonus Doson , administered the kingdom as regent until his death in 221 BC when Philip was seventeen years old.

On his ascent to the throne, Philip quickly showed that while he was young, this did not mean that Macedon was weak. In the first year of his rule, he pushed back the Dardani and other tribes in the north of the country.

 The Social War

In the Social War (220 BC-217 BC), the Hellenic League of Greek states was assembled at Philip V’s instigation in Corinth . He then led the Hellenic League in battles against Aetolia , Sparta and Elis. At the same time he was able to stamp on his own authority amongst his own ministers. His leadership during the Social War made him well-known and respected both within his own kingdom and abroad.

 First Macedonian War

After the Peace of Naupactus in 217 BC, Philip V tried to replace Roman influence along the eastern shore of the Adriatic , forming alliances or lending patronage to certain island and coastal provinces such as Lato on Crete. He first tried to invade Illyria from the sea, but with limited success. His first expedition in 216 BC had to be aborted, while he suffered the loss of his whole fleet in a second expedition in 214 BC. A later expedition by land met with greater success when he captured Lissus in 212 BC.

In 215 BC he entered into a treaty with Hannibal , the Carthaginian general then in the middle of an invasion of Roman Italy. Their treaty defined spheres of operation and interest, but achieve little of substance or value for either side. Philip became heavily involved in assisting and protecting his allies from attacks from the Spartans , the Romans and their allies.

Rome's alliance with the Aetolian League in 211 BC effectively neutralised Philip's advantage on land. The intervention of Attalus I of Pergamum on the Roman side further exposed Philip's position in Macedonia.

Philip was able to take advantage of the withdrawal of Attalus from the Greek mainland in 207 BC, along with Roman inactivity and the increasing role of Philopoemen , the strategos of the Achaean League . After sacking Thermum, the religious and political centre of Aetolia , Philip was able to force the Aetolians to accept his terms in 206 BC. The following year he was able to conclude the Peace of Phoenice with Rome and its allies.

 Expansion in the Aegean

Following an agreement with the Seleucid king Antiochus III to capture Egyptian held territory from the boy king Ptolemy V , Philip was able to gain control of Egyptian territory in the Aegean Sea and in Anatolia . This expansion of Macedonian influence created alarm in a number of neighbouring states, including Pergamum and Rhodes . Their navies clashed with Philip’s off Chios and Lade (near Miletus ) in 201 BC. At around the same time, the Romans were finally the victorious over Carthage.

 Second Macedonian War

Kingdom of Macedon on the eve of the Second Macedonian War, circa 200 BC.

In 200 BC, with Carthage no longer a threat, the Romans declared war on Macedon arguing that they were intervening to protect the freedom of the Greeks. After campaigns in Macedonia in 199 BC and Thessaly in 198 BC, Philip and his Macedonian forces were decisively defeated at the Battle of Cynoscephalae in 197 BC. The war also proved the superiority of the Roman legion over the Greek phalanx formation .

 Alliance with Rome

The resulting peace treaty between Philip V and the Romans confined Philip to Macedonia and required him to pay 1000 talents indemnity , surrender most of its fleet and provide a number of hostages, including his younger son Demetrius. After this, Philip cooperated with the Romans and sent help to them in their fight against the Spartans under King Nabis in 195 BC. Philip also supported the Romans against Antiochus III (192 BC-189 BC).

In return for his help when Roman forces under Publius Cornelius Scipio Africanus and his brother Lucius Cornelius Scipio Asiaticus moved through Macedon and Thrace in 190 BC, the Romans forgave the remaining indemnity that he had to pay and his son Demetrius was freed. Philip then focused on consolidating power within Macedon. He reorganised the country's internal affairs and finances, mines were reopened and a new currency was issued.

 Final years

However, Rome continued to be suspicious of Philip's intentions. Accusations by Macedon's neighboring states, particularly Pergamum , led to constant interference from Rome. Feeling the threat growing that Rome would invade Macedon and remove him as king, he tried to extend his influence in the Balkans by force and diplomacy. However, his efforts were undermined by the pro-Roman policy of his younger son Demetrius, who was encouraged by Rome to consider the possibility of succession ahead of his older brother, Perseus . This eventually led to a quarrel between Perseus and Demetrius which forced Philip to reluctantly decide to execute Demetrius for treason in 180 BC. This decision had a severe impact on Philip's health and he died a year later at Amphipolis .

He was succeeded by his eldest son Perseus , who ruled as the last king of Macedon .

The history of Ancient Greek coinage can be divided (along with most other Greek art forms) into four periods, the Archaic , the Classical , the Hellenistic and the Roman . The Archaic period extends from the introduction of coinage to the Greek world during the 7th century BC until the Persian Wars in about 480 BC. The Classical period then began, and lasted until the conquests of Alexander the Great in about 330 BC, which began the Hellenistic period, extending until the Roman absorption of the Greek world in the 1st century BC. The Greek cities continued to produce their own coins for several more centuries under Roman rule. The coins produced during this period are called Roman provincial coins or Greek Imperial Coins. Ancient Greek coins of all four periods span over a period of more than ten centuries.

Weight standards and denominations

Above: Six rod-shaped obeloi (oboloi) displayed at the Numismatic Museum of Athens , discovered at Heraion of Argos . Below: grasp^[1] of six oboloi forming one drachma

Electrum coin from Ephesus , 620-600 BC, known as Phanes' coin . Obverse: Stag grazing, ΦΑΝΕΩΣ (retrograde). Reverse: Two incuse punches.

The basic standards of the Ancient Greek monetary system were the Attic standard, based on the Athenian drachma of 4.3 grams of silver and the Corinthian standard based on the stater of 8.6 grams of silver, that was subdivided into three silver drachmas of 2.9 grams. The word drachm (a) means "a handful", literally "a grasp". Drachmae were divided into six obols (from the Greek word for a spit ), and six spits made a "handful". This suggests that before coinage came to be used in Greece, spits in prehistoric times were used as measures of daily transaction. In archaic/pre-numismatic times iron was valued for making durable tools and weapons, and its casting in spit form may have actually represented a form of transportable bullion , which eventually became bulky and inconvenient after the adoption of precious metals. Because of this very aspect, Spartan legislation famously forbade issuance of Spartan coin, and enforced the continued use of iron spits so as to discourage avarice and the hoarding of wealth. In addition to its original meaning (which also gave the euphemistic diminutive "obelisk", "little spit"), the word obol (ὀβολός, obolós, or ὀβελός, obelós) was retained as a Greek word for coins of small value, still used as such in Modern Greek slang (όβολα, óvola, "monies").

The obol was further subdivided into tetartemorioi (singular tetartemorion) which represented 1/4 of an obol, or 1/24 of a drachm. This coin (which was known to have been struck in Athens , Colophon , and several other cities) is mentioned by Aristotle as the smallest silver coin.^:237 Various multiples of this denomination were also struck, including the trihemitetartemorion (literally three half-tetartemorioi) valued at 3/8 of an obol.^:

Denominations of silver drachma
Image	Denomination	Value	Weight
	Dekadrachm	10 drachmas	43 grams
	Tetradrachm	4 drachmas	17.2 grams
	Didrachm	2 drachmas	8.6 grams
	Drachma	6 obols	4.3 grams
	Tetrobol	4 obols	2.85 grams
	Triobol (hemidrachm)	3 obols	2.15 grams
	Diobol	2 obols	1.43 grams
	Obol	4 tetartemorions	0.72 grams
	Tritartemorion	3 tetartemorions	0.54 grams
	Hemiobol	2 tetartemorions	0.36 grams
	Trihemitartemorion	3/2 tetartemorions	0.27 grams
	Tetartemorion		0.18 grams
	Hemitartemorion	½ tetartemorion	0.09 grams

Archaic period

Archaic coinage

Uninscribed electrum coin from Lydia , 6th century BCE. Obverse: lion head and sunburst Reverse: plain square imprints, probably used to standardise weight

Electrum coin from Ephesus , 620-600 BC. Obverse: Forepart of stag. Reverse: Square incuse punch.

The first coins were issued in either Lydia or Ionia in Asia Minor at some time before 600 BC, either by the non-Greek Lydians for their own use or perhaps because Greek mercenaries wanted to be paid in precious metal at the conclusion of their time of service, and wanted to have their payments marked in a way that would authenticate them. These coins were made of electrum , an alloy of gold and silver that was highly prized and abundant in that area. By the middle of the 6th century BC, technology had advanced, making the production of pure gold and silver coins simpler. Accordingly, King Croesus introduced a bi-metallic standard that allowed for coins of pure gold and pure silver to be struck and traded in the marketplace.

Coins of Aegina

Silver stater of Aegina, 550-530 BC. Obv. Sea turtle with large pellets down center. Rev. incuse square with eight sections. After the end of the Peloponnesian War , 404 BC, Sea turtle was replaced by the land tortoise .

Silver drachma of Aegina, 404-340 BC. Obverse: Land tortoise . Reverse: inscription AΙΓ[INAΤΟΝ] ([of the] Aeg[inetans]) "Aegina" and dolphin.

The Greek world was divided into more than two thousand self-governing city-states (in Greek , poleis), and more than half of them issued their own coins. Some coins circulated widely beyond their polis, indicating that they were being used in inter-city trade; the first example appears to have been the silver stater or didrachm of Aegina that regularly turns up in hoards in Egypt and the Levant , places which were deficient in silver supply. As such coins circulated more widely, other cities began to mint coins to this "Aeginetan" weight standard of (6.1 grams to the drachm), other cities included their own symbols on the coins. This is not unlike present day Euro coins, which are recognisably from a particular country, but usable all over the Euro zone .

Athenian coins, however, were struck on the "Attic" standard, with a drachm equaling 4.3 grams of silver. Over time, Athens' plentiful supply of silver from the mines at Laurion and its increasing dominance in trade made this the pre-eminent standard. These coins, known as "owls" because of their central design feature, were also minted to an extremely tight standard of purity and weight. This contributed to their success as the premier trade coin of their era. Tetradrachms on this weight standard continued to be a widely used coin (often the most widely used) through the classical period. By the time of Alexander the Great and his Hellenistic successors , this large denomination was being regularly used to make large payments, or was often saved for hoarding.

Classical period

A Syracusan tetradrachm (c. 415–405 BC)
Obverse: head of the nymph Arethusa , surrounded by four swimming dolphins and a rudder
Reverse: a racing quadriga , its charioteer crowned by the goddess Victory in flight.

Tetradrachm of Athens, (5th century BC)
Obverse: a portrait of Athena , patron goddess of the city, in helmet
Reverse: the owl of Athens, with an olive sprig and the inscription "ΑΘΕ", short for ΑΘΕΝΑΙΟΝ, "of the Athenians "

The Classical period saw Greek coinage reach a high level of technical and aesthetic quality. Larger cities now produced a range of fine silver and gold coins, most bearing a portrait of their patron god or goddess or a legendary hero on one side, and a symbol of the city on the other. Some coins employed a visual pun: some coins from Rhodes featured a rose, since the Greek word for rose is rhodon. The use of inscriptions on coins also began, usually the name of the issuing city.

The wealthy cities of Sicily produced some especially fine coins. The large silver decadrachm (10-drachm) coin from Syracuse is regarded by many collectors as the finest coin produced in the ancient world, perhaps ever. Syracusan issues were rather standard in their imprints, one side bearing the head of the nymph Arethusa and the other usually a victorious quadriga . The tyrants of Syracuse were fabulously rich, and part of their public relations policy was to fund quadrigas for the Olympic chariot race , a very expensive undertaking. As they were often able to finance more than one quadriga at a time, they were frequent victors in this highly prestigious event.

Syracuse was one of the epicenters of numismatic art during the classical period. Led by the engravers Kimon and Euainetos, Syracuse produced some of the finest coin designs of antiquity.

Hellenistic period

Gold 20-stater of Eucratides I , the largest gold coin ever minted in Antiquity.

Drachma of Alexandria , 222-235 AD. Obverse: Laureate head of Alexander Severus , KAI(ΣΑΡ) MAP(ΚΟΣ) AYP(ΗΛΙΟΣ) ΣЄY(ΑΣΤΟΣ) AΛЄΞANΔPOΣ ЄYΣЄ(ΒΗΣ). Reverse: Bust of Asclepius .

The Hellenistic period was characterized by the spread of Greek culture across a large part of the known world. Greek-speaking kingdoms were established in Egypt and Syria , and for a time also in Iran and as far east as what is now Afghanistan and northwestern India . Greek traders spread Greek coins across this vast area, and the new kingdoms soon began to produce their own coins. Because these kingdoms were much larger and wealthier than the Greek city states of the classical period, their coins tended to be more mass-produced, as well as larger, and more frequently in gold. They often lacked the aesthetic delicacy of coins of the earlier period.

Still, some of the Greco-Bactrian coins, and those of their successors in India, the Indo-Greeks , are considered the finest examples of Greek numismatic art with "a nice blend of realism and idealization", including the largest coins to be minted in the Hellenistic world: the largest gold coin was minted by Eucratides (reigned 171–145 BC), the largest silver coin by the Indo-Greek king Amyntas Nikator (reigned c. 95–90 BC). The portraits "show a degree of individuality never matched by the often bland depictions of their royal contemporaries further West" (Roger Ling, "Greece and the Hellenistic World").

The most striking new feature of Hellenistic coins was the use of portraits of living people, namely of the kings themselves. This practice had begun in Sicily, but was disapproved of by other Greeks as showing hubris (arrogance). But the kings of Ptolemaic Egypt and Seleucid Syria had no such scruples: having already awarded themselves with "divine" status, they issued magnificent gold coins adorned with their own portraits, with the symbols of their state on the reverse. The names of the kings were frequently inscribed on the coin as well. This established a pattern for coins which has persisted ever since: a portrait of the king, usually in profile and striking a heroic pose, on the obverse, with his name beside him, and a coat of arms or other symbol of state on the reverse.

Minting

All Greek coins were handmade , rather than machined as modern coins are. The design for the obverse was carved (in incuso ) into a block of bronze or possibly iron, called a die . The design of the reverse was carved into a similar punch. A blank disk of gold, silver, or electrum was cast in a mold and then, placed between these two and the punch struck hard with a hammer, raising the design on both sides of the coin.

Coins as a symbol of the city-state

Coins of Greek city-states depicted a unique symbol or feature, an early form of emblem , also known as badge in numismatics, that represented their city and promoted the prestige of their state. Corinthian stater for example depicted pegasus the mythological winged stallion, tamed by their hero Bellerophon . Coins of Ephesus depicted the bee sacred to Artemis . Drachmas of Athens depicted the owl of Athena . Drachmas of Aegina depicted a chelone . Coins of Selinunte depicted a "selinon" (σέλινον - celery ). Coins of Heraclea depicted Heracles . Coins of Gela depicted a man-headed bull, the personification of the river Gela . Coins of Rhodes depicted a "rhodon" (ῥόδον^[8] - rose ). Coins of Knossos depicted the labyrinth or the mythical creature minotaur , a symbol of the Minoan Crete . Coins of Melos depicted a "mēlon" (μήλον - apple ). Coins of Thebes depicted a Boeotian shield.

Corinthian stater with pegasus

Coin of Rhodes with a rose

Didrachm of Selinunte with a celery

Coin of Ephesus with a bee

Stater of Olympia depicting Nike

Coin of Melos with an apple

Obolus from Stymphalia with a Stymphalian bird

Coin of Thebes with a Boeotian shield

Coin of Gela with a man-headed bull, the personification of the river Gela

Didrachm of Knossos depicting the Minotaur

Commemorative coins

 

Dekadrachm of Syracuse ^{[disambiguation needed]}. Head of Arethusa or queen Demarete. ΣΥΡΑΚΟΣΙΟΝ (of the Syracusians), around four dolphins

The use of commemorative coins to celebrate a victory or an achievement of the state was a Greek invention. Coins are valuable, durable and pass through many hands. In an age without newspapers or other mass media, they were an ideal way of disseminating a political message. The first such coin was a commemorative decadrachm issued by Athens following the Greek victory in the Persian Wars . On these coins that were struck around 480 BC, the owl of Athens, the goddess Athena 's sacred bird, was depicted facing the viewer with wings outstretched, holding a spray of olive leaves, the olive tree being Athena's sacred plant and also a symbol of peace and prosperity. The message was that Athens was powerful and victorious, but also peace-loving. Another commemorative coin, a silver dekadrachm known as " Demareteion", was minted at Syracuse at approximately the same time to celebrate the defeat of the Carthaginians . On the obverse it bears a portrait of Arethusa or queen Demarete.

Ancient Greek coins today

Collections of Ancient Greek coins are held by museums around the world, of which the collections of the British Museum , the American Numismatic Society , and the Danish National Museum are considered to be the finest. The American Numismatic Society collection comprises some 100,000 ancient Greek coins from many regions and mints, from Spain and North Africa to Afghanistan. To varying degrees, these coins are available for study by academics and researchers.

There is also an active collector market for Greek coins. Several auction houses in Europe and the United States specialize in ancient coins (including Greek) and there is also a large on-line market for such coins.

Hoards of Greek coins are still being found in Europe, Middle East, and North Africa, and some of the coins in these hoards find their way onto the market. Coins are the only art form from the Ancient world which is common enough and durable enough to be within the reach of ordinary collectors.