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BRITISH PROTECTORATE, GREEK IONIAN ISLANDS, 1819 GEORGE III AE 2 Oboli (Penny)
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Obverse: IONIKON KPATOΣ:. Winged lion of St. Mark standing left, head wearing nimbus crown facing, and holding Bible containing seven arrows in outstretched paw; 1819 below.
Reverse: BRITANNIA. Britannia seated on globe facing left, shield leaning at her side, right hand resting on her right knee and holding laurel-branch, left hand holding trident.
Edge: Plain
Diameter: 34mm (Penny) | Weight: 18.4gm | Die Axis: 6h
KM 33 | Pridmore 18
Very Rare
The dies for this coin were engraved by William Wyon and the coin was struck at the Royal Mint in London. This issue, the 2 Oboli, was only struck in 1819.
Britain issued coins for the Ionian Islands based on the obol, equal to a British half-penny, intermittently until 1862. One obol was equal to four lepta up until 1834 when it was revalued at five lepta.
The obol was replaced by the Greek drachma when the Ionian Islands were given to Greece.
The Ionian Islands were seized by the British from the French when the French fleet was defeated off the island of Zakynthos (Zante) in 1809. Britain immediately took possession of Zante, Cephalonia, Kythira and Ithaca and in 1810 took over Santa Maura as well. The islands of Corfu and Paxos remained occupied by the French until 1814 when they too surrendered to the British who then ruled all the islands until 1864.
With de facto British occupation the Ionian Islands were placed under the exclusive "amicable protection" of the United Kingdom. This arrangement was formalised in 1817 when the seven principal islands became the United States of the Ionian Islands formed as a British Protectorate. The seven main islands are represented by the seven arrows held by the winged lion of St. Mark depicted on the coins. The British greatly improved the islands' communications and introduced modern education and justice systems, but after Greek independence was established, the islanders pressed for union with Greece and they were ceded to Greece in 1864 as a gift of the United Kingdom to the newly enthroned King George.
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