CNG (Mail Bid Sale 72) on the subject...
IONIA, Uncertain. Circa 650-600 BC. EL
Hemistater (7.16 g). Milesian
standard. Striated
type. Flattened striated surface / Two rough
incuse square punches separated by a cleft.
Cf. Weidauer 5 (trite);
cf. Traité I 16 =
BMC Ionia 1 (
Miletos;
stater; same cleft);
Triton IX, 939;
CNG 70, 271 (same punches and cleft).
Good VF, small scuff on
reverse. Extremely
rare, one of five known hemistaters of this
type. (sold for $11,000)
Apart from Herodotos (1.94.1), who assigned the origin of gold and silver coinage to the kings of Lydia, the physical evidence does confirm Asia Minor as the place of origin, most likely Lydia or Ionia, and a date somewhere around 650-625 BC. The
alloy used, a mixture of gold and silver known to the
Greeks as elektron, was based on the natural ore found in nugget form in many river-beds in the region. The earliest coins were of a globular shape and without design in imitation of this natural form; later, simple striated and punched patterns of squares, rectangles, and swastikas were included. The earliest true
types may have developed from the use of personal
seals, the most widely known being the
stater of
Ephesos with a stag bearing the
inscription “I am a seal of Phanes”. These devices later took on the characteristics of civic
symbols, although it would be dangerous to link a specific symbol to a particular city in this early period. The most secure form of classification has been by
weight standard, based on two major, and several lesser-used, standards. The Milesian
standard, with a
stater of circa 14 grams, saw circulation in
Lydia and parts of
Ionia. The Phokaic
standard of circa 16 grams was also used in
Ionia as well as
Mysia. Persic, Aeginetan, and Euboic standards saw scattered use in early coinage, limited in time and extent of circulation. The intrinsic value of the early
electrum, even down to the 1/96
stater, was too high for use in everyday commerce, and early coinage must have been used only for the transfer of large sums of
money, such as mercantile transactions, payment of government expenses (mercenaries, tribute and such), and donatives, either for services rendered to individuals or the state, or to religious foundations. The Artemision deposits,
hoards of early
electrum found at the site of the temple of
Artemis at
Ephesos, are examples of the latter.
The smaller
denomination can be
had for about 1/10 the
price. This 1/24th
stater sold for $1200 and decent examples might be found for around $1K (if you are lucky, but watch out for
fakes):
IONIA, Uncertain. Circa 650-600 BC. EL 1/24
Stater (0.62 g). Milesian
standard. Striated
type. Flattened striated surface /
Incuse square punch.
Weidauer -; Traité I 14-15;
SNG Kayhan 682.
Good VF.
